1/7/2023 0 Comments Victoria secret lingerieDo we have a crossover in customers? Of course we do. Aerie is more an apparel business that sells some lingerie. We’re first and foremost a lingerie business. In the case of the latter, Waters said, “I don’t think they’re a direct competitor. The list includes Elomi and Leonisa, both of which are available on the VS&Co-Lab site, for which he praised their inclusive offerings and shapewear assortment Shein (he’s a fan of their data use), and American Eagle Outfitters’ Aerie. Many investors and consumers alike are still reeling from former L Brands’ chief marketing officer Ed Razek’s slights against competitor ThirdLove back in 2018, in an interview that included less-than-flattering comments regarding plus-size and transgender models.īut the CEO did mention a few favorites. It’s not hard to understand why Waters was hesitant to talk about the competition. That’s a really important insight for us in terms of where we take this company moving forward.” But many of these brands that are close to our core exist because we were not what we should have been. And when you talk to those companies - I won’t mention them by name, any of them - when you talk to them and say, ‘tell me why you exist? What’s your ? What’s your point of difference? Why are you here?’ The first thing they say, typically, is a response to what Victoria’s Secret is not. But in aggregate it is an important part of the market. “They got to about $1.8 billion in overall revenues, a pretty significant share of the market for lots of companies that individually are quite small. “There’s a number of digital brands that didn’t exist eight, 10 years ago,” he added during his prepared presentation. And having that freedom to express the brand in that way is incredibly liberating. That’s just opened up a whole world of opportunity. We look at what women want as what we should do. So our lens in looking at what women should do is completely different than what it was. But what we are now is advocacy for women. That was a really, really good thing to do, just working in a mall. “And for a long period of time that worked for who we were. “In the old version of Victoria, everything the brand did, or that was said, or publicized or produced, was done because it fitted one single word, one single definition of what the customer needed and that was ‘sexy,’” Waters said. It was a chance for the CEO to update the investment community on the retailer’s turnaround progress - which he stressed was only in year two out of five - while also addressing the proliferation of brands entering the space and how Victoria’s Secret will continue to compete. Waters, along with other members of the C-suite and analysts, descended upon the Windy City on Thursday for Victoria’s Secret’s investor day, the first as a stand-alone company. We really appreciate the way you’re showing up now.’” “But we know from our research that when those people do discover the new Victoria’s Secret, they love it. “The reality is, for many people, they just haven’t noticed they haven’t had the occasion to either come to our site and see what the change looks like, or come to our stores and see what the change looks like,” Waters told WWD in an exclusive interview. Martin Waters is CEO of Victoria’s Secret & Co.
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