Victoria’s Secret has faced a tough 18 months, with its CEO Sharen Jester Turney abruptly quitting at the start of 2016 and witnessing tumbling sales after axing its swimwear business as part of a major restructure.
The retailer tried to reverse this decline in revenue by focusing on sportswear and launching a range of bralettes as padded push-up bras lost their appeal.
But bralettes didn’t take off and they now make up just 5% of the brand’s product line.
Victoria’s Secret now plans to head back to its roots under CEO Jan Singer, who joined the company from Spanx last year.
“I think anybody can make a bralette, and that was a moment that will come and go and it will come again,” Singer told Detroit News. “But for us, we make constructed bras best.
We are “in the business of fashion and sexy,” the CEO added. She wants to know what her customers expect from products that “speak sexy” to them and “solve her sexy.” She wants to provide “choices of sexy for her.”
Despite the challenges, Victoria’s Secret continues to engage with the consumer and has a social media following that its fellow lingerie retailers can only dream of.
And a recent report by digital marketing experts Inside Online found that out of the 30 top lingerie retailers in the UK, Victoria’s Secret had the highest social media score.
The brand topped the list in the first six months to September 2017 for having the most followers and hosting engaging conversations on all major platforms.
Our research shows that the lingerie retailers with the second and third biggest social media following are Calzedonia and Intimissimi, with 3 million and 2.7 million Facebook likes respectively.
But the fact that there was no UK Alexa ranking listed for these brands meant they failed to make our Reach List.
Ann Summers doesn’t have as many social media followers, but its UK Alexa ranking was in touching distance of Victoria’s Secret’s, demonstrating its high number of daily unique visitors and page views over the last three months.
The report by Inside Online also showed that Ann Summers is the most searched-for lingerie retailer in the UK.
The retailer was searched for 823,000 times per month in the six months to September 2017, almost double the number of searches for Victoria’s Secret (450,000).