Weak sales at Victoria’s Secret are plaguing its parent company L Brands, dragging down its stock price more than 40% over the past year.
If you visit a store, it’s clear why.
I became obsessed with Victoria’s Secret in college, buying bras, underwear, lingerie, clothes, swimsuits, and perfume from the brand in store and online. I would typically buy something every two months or so. It was excessive, but I loved how fun the brand was, and all the luxurious stuff I could get with tons of discounts because I shopped there so often.
For the last four years, I’ve had a Victoria’s Secret Angel VIP credit card. But over the last two, I’ve noticed a deep dive in the quality of materials they use, the number of deals I can get, and the overall variety of options they offer.
I recently visited a Victoria’s Secret store to see how the brand has changed.
I went to the Victoria’s Secret in SoHo — one of their largest stores in New York City — after they didn’t have a large enough selection at their Flatiron location.
Each section of the store features about a dozen bra types that each come in a variety of colors and styles. Bras range in price from around $15 to $200.
My first impression is decadence. Rich, deep wood and mood lighting fill the store, inviting you to treat yourself.
As I venture in, it’s virtually impossible to find anything. A very nice sales associate offered to help me locate specific bras, but even she had trouble tracking them down.
The problem is that there are no labels anywhere. To find a specific style, you have to look at the tag of each bra to see what kind it is.
I’ve seen signs in their stores before, but this store lacked them. The names are difficult to differentiate, too, because they’re so similar. Their “Dream Angels,” “Body by Victoria,” and “Very Sexy” collections fit very differently.
With so many bras and panties everywhere, it is a constant battle for associates to keep the stores in order.
Victoria’s Secret has expanded its expensive offerings in the past few years, offering what they advertise as more luxurious lingerie.
This tiny bustier was almost $200.
On the flip side, many discounts were also advertised throughout the store. Market analysts have said the industry is in the midst of a “bra war,” thanks to mounting competition from American Eagle’s Aerie brand and athleisure companies like Lululemon.
Source: Business Insider