VS is still popular just not as popular. Women are notorious cheapskates so it's no surprise bargain bin stores like H&M and Primark are doing well. But given the choice if they got free unlimited shopping for an hour which store they would choose? I guarantee not H&M which clothing disintegrates the moment you put it in the washing machine. It's just that the existing trend is to get a lot of shit for your buck even if it's of poor quality. Same reason why stores like Action are so popular. Eacaraxe is rght that VS' problem is that the price is too high for the quality. It sells because of the brand and the models and the shows and just the general advertising but like every business when your competitors deliver higher quality for a lower price and you can't sell on brand alone anymore then you start to have a problem. That the advertising was meant for men is just not true as it was mostly women that liked those shows and those models. Look how many instagram followers Romee Strijd has for example of which 99% women(or rather teenage girls probably).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.
VS thinks by going 'inclusive' that plus size women will suddenly change brand but that obviously isn't going to happen. They make the wrong analysis, alienate their existing customers without attracting new ones while missing the point. You can just tell these decisions are made by these out of touch managers and marketing bureaus. When the only thing they should have done is lower their price so that it more matches the quality.
I don't think a 44 year old mission statement is still very relevant.It very much was, by their own admission. As per Wikipedia: In 1977, Raymond borrowed $40,000 from family and $40,000 from a bank to establish Victoria's Secret: a store in which men could feel comfortable buying lingerie.
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