Victoria’s Secret, owned by L Brands, has witnessed a significant decline in sales since 2017 as consumers switched to other intimates brands promoting inclusivity and comfort. The company has employed many new strategies to get their customers back including re-entering the swimwear category, hiring its first transgender and plus size model and working with outside brands in collaborations. Nevertheless, Victoria’s Secret is still a market share leader in the intimates industry in the US and worldwide. If everything goes right, Victoria’s Secret’s shapewear might be a win-win situation for the brand’s image and the shapewear industry.
US-based Victoria’s Secret is an intimate apparel brand selling bras, pajamas, perfumes and other accessories. The retailer has for years faced criticisms for an out-of-date focus on sexy styles while competitors prioritized comfort. It canceled its once-annual fashion show as viewership increasingly shunned the provocative show. L Brands has been focused on diversification of its supply chain over the past five years. The company has been in negotiations with Chinese suppliers to take costs out of the production chain to offset the increase.
