Say it Isn't So! Victoria's Secret to Nix Majority of Womenswear
Posted Friday April 11, 2014 8:14 AM GMT
While consumers have grown to love the denim, outerwear, dresses and wovens of Victoria’s Secret over the years, it’s always been about the lingerie.
And L Brands Inc Chairman/CEO Leslie H. Wexner has decided to put the kibosh on most of the brand’s womenswear offerings in favor of returning to its roots.
Victoria’s Secret CEO Sharen Jester Turney explained, “We know we’re most successful when we remain focused on our core. As we look to double the business and continue our international growth, this alignment of apparel categories with the core attributes of Victoria’s Secret and Pink will provide a cohesive brand experience for our customer in stores, online and through our catalog.”
In a previous interview, Wexner noted, “Brand loyalty to beauty and lingerie is very different than loyalty to apparel. Because of that loyalty, we get trial and repeat [business] in a way that apparel does not get. It’s a very different pattern of purchasing behavior. Both categories have significantly longer product life cycles and reduced markdowns, giving the business unusual characteristics and stability… For substantial reasons, I am more confident than I’ve ever felt — tactfully and strategically.”
Photo Credit: Victoria's Secret