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Victoria’s Secret
Brooke MalamaOcean TrailYifu Ma
“Limited Brands is committed to building a family of the worlds best fashion brands offering captivating customer experiences that drive long-term loyalty and deliver sustained growth for our shareholders”
Background
• Founded in 1977 by Roy Raymond, who wanted to create a retail concept that was comfortable for the male consumer
• Held by L Brands Inc. (NYSE: $56.61) 59% of revenue is generated by VS
• Specializes in lingerie, womenswear, and beauty products
• Around 1019 stores (US)
VS Target Market
● Sexy and confident women
● Middle class woman, age 20 to 40.
● Shifted target from men buying lingerie for a spouse to a focus on women
PINK Target Market● Gateway to Victoria’s Secret line
— Good Strategy to foster brand loyalty
● Young and confident college girls
— Bright product color
● Trend: High school girls and teens
Store Layout
Consistent with brand image
• Pink lighting fixtures and magenta armoires
• Separate rooms for each brand
• Displays of mannequins dressed in lingerie
• Portraits of VS Angels
• Dressing rooms with large mirrors and couches
• Sales associates assist customers by finding appropriate sizes
Marketing Strategy
Multi-channel retailing
- Social media
- Email marketing
- Mobile marketing
- Victorias Secret Fashion Show
- Promotional Offers
- Semi annual sale
- VS all access
- Coupons
- Online deals
- Reward cards
SWOT Analysis
Strengths
- Strong company brand presence with over 1000 company stores across the globe.
- Utilizing all their social media platforms (Facebook, Twitter, YouTube, Pinterest, Instagram)
- The company’s sub-brand Pink targeting late teen and college age teens has been a great success.
- The company’s active online marketing wherein they have active blogs, catalogues to create awareness about their product lines.
- The brand uses organic and fair trade raw materials for it’s clothing lines.
Weaknesses
- Several competitors means customers have a lot of choices and brand switching is high
- Fake products with the same name affect sales as well as brand image
SWOT Analysis
Opportunities
- The brand can extend its portfolio by foraying into different lines to expand its offering.
- The brand can focus on markets like Asia where it has limited reach.
- The brand could create online digital dressing rooms to create a greater appeal for their products.
Threats
- Due to limited resources the company can face serious issues in lieu of an economic downturn
- The highly fragmented fashion industry would mean less brand loyalty .
- Competition among other brands
References
● http://finance.yahoo.com/news/l-brands-present-icr-xchange-160000014.html
● http://editd.com/blog/2013/04/the-booming-lingerie-market/
● http://www.pamperedpassions.com/victorias-secret-brief-history
● http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=4175421
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