Victoria’s Secret gets ready for a makeover

SEX SELLS, and it sells few things better than lingerie. Nowhere is that more evident than the Victoria’s Secret fashion show. Befeathered models, known as “angels”, shimmy down a runway to promote America’s biggest underwear retailer. In 2011 more than 10m people watched it on television. But on December 2nd just 3.3m viewers tuned in (see chart).

Victoria’s Secret has around a tenth of a global lingerie market worth $78bn, according to Euromonitor International, a research firm. It shows all the signs of a tired brand struggling to keep up with customer tastes. In America its market share has plunged from almost 33% two years ago to around 24% today, as social media and e-commerce make it easier for new brands to enter the market. Shares in L Brands, its parent company, were worth $100 three years ago; today they go for $30. Newcomers are disrupting every part of retail, but Victoria’s Secret has made its woes worse.

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via Business Feeds

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