One of the most popular women’s clothing stores has been undergoing some company changes including the step down of the current CEO, Jan Singer. Victoria’s Secret has been highly known in women’s lingerie and beauty products for many years.
The “Angels” of the company promote the styles by holding an annual televised fashion show. However, after more than two decades of the annual show the angel era has come to an end. The show has went the opposite direction of want customers wanted when becoming ever sexier but with low quality.
Recently the company has been struggling in sales due to competition and style interest changing. They have lost over 3.8 million customers to rivals like Amazon and American Eagle’s Aerie, hurting their business tremendously. Other big retailers including Target and Walmart along with new online startups like Adore me have also affected the decrease in sales.
These other companies have given customers a variety of more sizes for an everyday fit that branch out to more women, they also make it more affordable while still providing the comfort. With that, the company will gain the new CEO, John Mehas, who plans to make major changes in order to keep up with rising competition.
One huge change is the closing of 53 of the company’s stores, still leaving more than 950 stores in the United States. Big changes in advertisement have been rethought, to relate to the “everyday women” that are represented by other companies in order to draw them back into shopping at Victoria’s Secret.
By having the Angels represent the entire Victoria’s Secret brand, the company created a limited view of the typical customer. Many women feel uncomfortable buying from a company that doesn’t include a wider variety of sizes that represent the brand. Model figures in their advertisements create insecurities due to many customers not fitting the guidelines as to what an “acceptable”size/body type is, shown in their advertisements and social aspects of branding.
Mehas who is also currently the president of Tory Burch has a plan to move forward with the company with his strong background in managing business. He clarifies that “Our number one priority is improving performance at Victoria’s Secret Lingerie and PINK. In doing so, our new leaders are coming in with a fresh perspective and looking at everything… our marketing, brand positioning, internal talent, real estate portfolio and cost structure.”
Wanting to bring the company into a new phase that fits women demands Mehas has taken many suggestions for the brand into thought.
In 2016 Victoria Secret had discontinued their swim line to focus on other clothing lines, however, in 2019 the much-loved swim brand has made a come back introducing new bikinis and one pieces. Many of the lines have change slightly to hopefully increase the sales and increase the number of customers to where it once was.