The official Victoria’s Secret planet’s largest internal empire is about to collapse?
The official Victoria’s Secret planet’s largest internal empire is about to collapse?
This year more likely, Victoria’s Secret show will be stopped. This is sad for the fans of the inner angel but it is true. People are more likely to believe after the main channel has signaled to stop broadcasting this program.
Recently, in an interview with The Daily Telegraph, Shanina Shaik said: “Unfortunately, this year’s Victoria’s Secret concert may not be held. This time every year I am practicing as a Angel but this doesn’t happen makes me feel strange “. The model also shared that she thought the brand was trying to rebrand and implement the program in a new way.
The official Victoria’s Secret planet’s largest internal empire is about to collapse?
Victoria’s Secret was once considered a dreamland where all girls wanted to be angels. Since its founding in 1977, this domestic brand has gradually asserted itself as a pioneer in the new fashion market, focusing on underwear that many people used to fear in the past. Shanina Shaik’s statement proves that the brand is facing serious problems. Indeed, when comparing what Victoria’s Secret has done with the present, people recognize the warning signs of the expiration of an empire.
The official Victoria’s Secret planet’s largest internal empire is about to collapse?
Revenue declined seriously
During the period of 1977 – 1980 Victoria’s Secret grew $ 500,000 in the first year of sales to pay for a new headquarters and new stores and e-mail ordering services. In 1982, the brand’s 12th catalog was published with great sales, the profits from these catalogs contributed more than 55% to the company’s annual revenue of $ 7 billion. Due to problems in business strategy, the brand’s father Roy Raymond sold Victoria’s Secret to Leslie Wexner, founder of Limited Stores (later called L Brand).
The official Victoria’s Secret planet’s largest internal empire is about to collapse?
Five years after buying the company, The Limited opened 346 retail stores, infiltrating commercial centers. In 1986, Victoria’s Secret was the only domestic retail chain in the US. The New York Times wrote about the growth of Victoria’s Secret’s from four stores in 1982 to 100 stores in 1984 and raised speculation by experts, saying that the number would increase to 400 in 1988. In 1990, analysts estimated its revenue grew four times to 120 million US dollars in four years.
The official Victoria’s Secret planet’s largest internal empire is about to collapse?
However, the crisis with Victoria’s Secret came earlier than we know. In the 1990s and 1993s, the company continuously faced quality problems. In the following years, Victoria’s Secret’s sales went up and down, reporting the company L Brands’ mother also fell into crisis. 2016 L Brands’ shares fell more than 40%. After two years of running the brand Jan Singer also resigned in 2018, the company’s shares fell 39%. Customers no longer want to go to Victoria’s Secret store to buy items because it is no longer suitable, although expensive but obsolete designs.
While competitors such as American Eagle’s Aerie, Rihanna’s Savage x Fenty, ThirdLove, .. quickly caught up with the new trend of bralettes, Victoria’s Secret was a latecomer, molded and old-fashioned with thick pieces of foam and a shirt. frames. The brand’s marketing manager is Ed Razek and acknowledges this. In 2019, Victoria’s Secret intended to wipe out 53 stores after 30 stores were closed in 2018.
The official Victoria’s Secret planet’s largest internal empire is about to collapse?
