Yup.
A lot of it is just marketing: we all know that quality or value isn't what really makes a lot of companies shift product. A brand is huge one day, and gone anywhere from 2-20 years down the line: it's really hard to keep with the times. Victoria's Secret has almost certainly long since peaked. Their brand just doesn't fit what people want any more, so it's in a frantic attempt to change its public perception to keep its ball rolling as long as possible. I remember when Gap took over the high street in my country. Now their stores are few and far between. Currently H&M and Primark rule the roost, or the likes of Asos and BooHoo online, and I wouldn't bet on any of them being major players in 2040.
I do think, especially after the athletic wear boom over the past 4-5 years, people are getting to a point of looking for greater longevity and comfort in what they wear as opposed to appearance. Especially in light of post-recession economic woes, and as compared to the dubiously comfortable fashion trends that dominated the decade prior to that. Most women I've talked to in the past few years about lingerie -- quite a few, considering my past place of employment, the topic's an inevitability when almost all the merchandise you move is women's wear -- are much happier with current trends just on the basis of comfort and ease of wear, compared to those of the past.
As far as I can tell, the big trend right now is combining contemporary fabrics and manufacturing with vintage cuts and retro-inspired style, and I really don't see that going away in the next few years. Especially since Amazon pretty well has the market cornered on "novelty" lingerie with its endless supply of less-than-$10 Chinese shit. Since VS missed the boat on the former trend and got pushed out of the latter market, they really don't have a market niche to fill and that's what they need to fix to make the business sustainable in the long run...but as I implied, I don't think long-term sustainability is the intended goal but rather to push the company past the goal line of "divest and dissect".
Also true. "Non-woke" companies aren't really inclined to go woke unless something's already wrong: why would management change a well-functioning business model? They're trying "woke" as an attempt to see whether that will improve matters, and inevitably if it isn't (or at least not a critical problem) they will continue to decline.
What would fix things is to ditch the hard copy periodical format, and embrace graphic novel production and digital distribution. Comic book stores have been walking corpses since the comics crash; the writing has been on that wall since most comics stores had to transition to a hybrid model of merch sales, gaming products, and gaming supplies. The TPB boom is pretty much the definitive smoking gun as far as performance indicators of market performance and trends.
But for some reason, the comics industry is just refusing to swallow that bitter pill and they're just reverting back to the predatory, gimmicky shit of the late-'80s and early-'90s, trying to manipulate consumers already wise to the tricks into collection and speculation.
A friend of mine very into his comics spent hours raging to me about the last collapse: so he said DC and Marvel wrecked the business model of small comic shops in pursuit of their own profits, bankrupted a ton of them, and then found out a load of their would-be customers didn't have places to buy their comics anymore causing a major sales dip. Whoopsies!
The shot heard 'round the fandom should have been when in...early 2017 if I remember right...when store owners started posting their purchase agreements with distributors and invoices online, revealing Marvel was abusing the direct market's non-returnability and inflating their sales numbers by mandating minimum bulk purchases of...
certain...titles. Because Marvel was counting sales to
retailers, not sales to
readers.
Thereby, leaving already-struggling comic book stores holding the bag in the form of inventory they were forced to pay for and couldn't return for credit, which readers weren't buying.