All eyes are on Victoria's Secret, which has set out to rebrand as an advocate for women. But will it work?
“Despite the run in the shares, we continue to believe this remains the greatest point of investor under-appreciation.”“is a huge advantage for us,” Greg Unis, chief executive officer of Victoria’s Secret Beauty, told WWD in July. That’s because most of the 867 stores turn a profit of roughly $900,000 and have 3.8 years left on their leases, on average, leaving room for negotiations, according to executives at the investor day.
Victoria’s Secret’s updated stores include lighter walls, more floor space and mannequins of various shapes and sizes, all in an effort to draw attention to the product, rather than the Angels.And there’s no escaping the fact that many of these stores are in parts of the country that offer few, if any, other options for trying onin real life. There’s also the Victoria’s Secret name, which holds equity, and the fact that many consumers are notoriously fickle when it comes to product loyalty.
“I do think there will be some people who will say, you know what? [Victoria’s Secret] is not where I want to be. That’s maybe not the right kind of space for me to be in,” Martha Pease, Victoria’s Secret’s chief marketing officer,“But I’m not anticipating that’s going to be a huge barrier. We’re going to be better positioned not to lose the historic relationship we’ve had with women, but to make it relevant. Our big issue is relevance.
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