Lingerie chain Victoria’s Secret is reportedly ditching its woke, feminist makeover of recent years because it hasn’t translated to business success.
For the reason that brand decided to maneuver away from its “hyper-sexualized” image – as BusinessOfFashion.com described it in a recent article – Victoria’s Secret has seen a big revenue drop.
As such, it has looked to revamp itself and produce back “sexiness,” the outlet noted in a chunk that was also published by editorial partner CNN on Tuesday.
Cathaleen Chen reported that the brand’s efforts to advertise inclusivity – which included making LGBTQ pro women’s soccer player and outspoken leftist Megan Rapinoe, in addition to a transgender woman, brand spokesmodels and eliminating its famous “Angels” supermodels – gained “favorable reviews from online critics [but] never translated into sales.”
In response to the numbers, the lingerie brand’s projected revenue for 2023 is $6.2 billion, which is 5% lower than it was last yr, and even lower than 2020, when the brand’s revenue was $7.5 billion.
The drop in Victoria’s Secret’s sales also followed the corporate’s move to make its board of directors mostly female.
In 2021, Rapinoe called out what the brand had been before the revamp, claiming it had sent out a “really harmful” message that was “patriarchal, sexist, viewing not only what it meant to be sexy but what the garments were trying to perform through a male lens and thru what men desired.”
“And it was very much marketed toward young women,” the U.S. Women’s soccer star added on the time.
In the style outlet, Chen noted that the lingerie company’s try to stop the financial drain body-positive marketing was causing was to bring back its runway show format, and mix the sexiness the brand had develop into famous for with a few of its more inclusive initiatives.
She described the Victoria’s Secret: The Tour ’23 as a display that “fell somewhere in between the personification of male lust of the brand’s aughts-era heyday and the inclusive utopia promoted by its many disruptors.”
Victoria’s Secret and Pink brand president Greg Unis summed up this latest direction for the corporate, reportedly telling investors, “Sexiness will be inclusive.” He explained that “Sexiness can have a good time the varied experiences of our customers and that’s what we’re focused on.”
Chief executive Martin Waters also reportedly admitted that the inclusivity initiatives weren’t profitable for the corporate, stating, “Despite everyone’s best endeavors, it’s not been enough to hold the day.”
In response to BusinessOfFashion, the corporate’s latest goal is to “Improve profitability and cross back over $7 billion in annual sales.” To satisfy this objective, the brand plans to roll out activewear and swimwear, update its existing stores and open up 400 latest ones outside america.
Victoria’s Secret didn’t immediately reply to Fox Business’ request for comment.
Lingerie chain Victoria’s Secret is reportedly ditching its woke, feminist makeover of recent years because it hasn’t translated to business success.
For the reason that brand decided to maneuver away from its “hyper-sexualized” image – as BusinessOfFashion.com described it in a recent article – Victoria’s Secret has seen a big revenue drop.
As such, it has looked to revamp itself and produce back “sexiness,” the outlet noted in a chunk that was also published by editorial partner CNN on Tuesday.
Cathaleen Chen reported that the brand’s efforts to advertise inclusivity – which included making LGBTQ pro women’s soccer player and outspoken leftist Megan Rapinoe, in addition to a transgender woman, brand spokesmodels and eliminating its famous “Angels” supermodels – gained “favorable reviews from online critics [but] never translated into sales.”
In response to the numbers, the lingerie brand’s projected revenue for 2023 is $6.2 billion, which is 5% lower than it was last yr, and even lower than 2020, when the brand’s revenue was $7.5 billion.
The drop in Victoria’s Secret’s sales also followed the corporate’s move to make its board of directors mostly female.
In 2021, Rapinoe called out what the brand had been before the revamp, claiming it had sent out a “really harmful” message that was “patriarchal, sexist, viewing not only what it meant to be sexy but what the garments were trying to perform through a male lens and thru what men desired.”
“And it was very much marketed toward young women,” the U.S. Women’s soccer star added on the time.
In the style outlet, Chen noted that the lingerie company’s try to stop the financial drain body-positive marketing was causing was to bring back its runway show format, and mix the sexiness the brand had develop into famous for with a few of its more inclusive initiatives.
She described the Victoria’s Secret: The Tour ’23 as a display that “fell somewhere in between the personification of male lust of the brand’s aughts-era heyday and the inclusive utopia promoted by its many disruptors.”
Victoria’s Secret and Pink brand president Greg Unis summed up this latest direction for the corporate, reportedly telling investors, “Sexiness will be inclusive.” He explained that “Sexiness can have a good time the varied experiences of our customers and that’s what we’re focused on.”
Chief executive Martin Waters also reportedly admitted that the inclusivity initiatives weren’t profitable for the corporate, stating, “Despite everyone’s best endeavors, it’s not been enough to hold the day.”
In response to BusinessOfFashion, the corporate’s latest goal is to “Improve profitability and cross back over $7 billion in annual sales.” To satisfy this objective, the brand plans to roll out activewear and swimwear, update its existing stores and open up 400 latest ones outside america.
Victoria’s Secret didn’t immediately reply to Fox Business’ request for comment.
