Bathing suits are coming back, and the company is toying with possibilities of other new merchandise.
Ladies and fans of Victoria’s Secret will be excited to know that the company is hoping to bring back bigger sales since the recent lull by bringing back the bathing suit, reports Daily News.
Even though swimming season may be months away, Victoria’s Secret’s parent company L Brands made the announcement on an earnings call this week. The company plans to boost profits amid an influx of new competitors. CFO of Victoria’s Secret Stuart Burgdoerfer said that the company’s performance over the last quarter was “unacceptable,” and that swimwear, and potentially eyewear and footwear, would be rejoining the roster come spring. Yes, you read that right, Victoria’s Secret is considering carrying eyewear and footwear. Plenty of changes are coming up.
“Fundamentally, it is about what the customer is telling us.”
L Brands announced its quarterly earnings earlier this week, noting that while brands such as Bath & Body Works have performed better than competitors expected, Victoria’s Secret sales have dropped 6 percent since last quarter. Such a loss has happened even though Victoria’s Secret has continued to pop up in the news. Victoria’s Secret CEO Jan Singer recently announced her resignation, and the company has been battling bad press thanks to L Brands Chief Marketing Officer Ed Razek.
Fans of the company and much of the public were shocked when Razek sparked outrage earlier this month, saying in an interview with Vogue that transgender models had “no place” on the Victoria’s Secret runway. Razek further remarked that they did not fit the “fantasy” aspect of the show. Tory Burch head John Mehas was announced as Singer’s replacement, while Razek apologized amid heavy criticism from stars like Kendall Jenner and Rihanna.
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Plus-size model Tess Holliday ripped the company in an Instagram post that told Victoria’s Secret to “kiss my fat a**” while model Robyn Lawley said in an interview about the company’s annual fashion show.
“All my friends that were doing that show were starving themselves.”
Based on the reactions to Razek’s comments, many believe it’s clear that women’s preferences in the beauty industry are shifting. It seems women no longer desire the aspirational looks associated with Victoria’s Secret’s “Angels,” and are instead embracing the “realness” of brands such as Aerie, who push ad campaigns with body-positive, unretouched photos. Aerie has even campaigned by hiring models with disabilities, as was reported here at the Inquisitr. Aerie reported a record-high 38 percent increase in same-store sales in 2018’s first quarter, while the company’s comparable sales reportedly rose 27 percent in the second quarter. Part of the revamp meant to push the company ahead of its many competitors includes the reintroduction of swimsuits, which Victoria’s Secret axed from its lineup back in 2016 in order to focus on more profitable lines.
Catherine Geib, an associate professor at the Fashion Institute of Technology spoke with the Daily News, suggesting it was time that Victoria’s Secret got “on board” with competitors.
“We’re a big diverse world, so I think some people could be put off by that. Why not get on board? If they don’t get on board, somebody else will. There’s always somebody on your heel.”
Victoria’s Secret also nixed the swimwear print catalog, though it remains unclear if the lookbook will be making a return as well.
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