Victoria’s Secret is reportedly moving away from its recent “woke” and feminist rebranding, which hasn’t proven successful for its business.
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The brand had shifted from its earlier “hyper-sexualized” image, resulting in a significant drop in revenue.
In an effort to regain its appeal, Victoria’s Secret is returning to a focus on “sexiness,” as reported by an article shared by CNN.
The brand had made attempts to promote inclusivity, such as featuring LGBTQ advocate Megan Rapinoe and a transgender spokesperson while discontinuing its famous “Angels” supermodels.
These efforts received positive feedback from online critics but failed to translate into increased sales.
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The financial numbers reveal that Victoria’s Secret is anticipating a projected revenue of $6.2 billion for 2023.
This figure is 5% lower than the previous year and even falls below the revenue from 2020, when the brand earned $7.5 billion.
The decline in sales at Victoria’s Secret coincided with the company’s decision to have a predominantly female board of directors.
In 2021, Rapinoe spoke out against the brand’s earlier image prior to the rebrand, describing it as conveying a “harmful” message that upheld patriarchal and sexist values, and designed both sexiness and clothing based on a male perspective and male desires.
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“And it was very much marketed toward younger women,” the U.S. Women’s soccer star added at the time.
In the fashion article, Chen highlighted the lingerie company’s strategy to counter the financial decline caused by its body-positive marketing efforts.
To address this issue, Victoria’s Secret decided to revive its runway show format and integrate the brand’s traditional sexiness with some of its more inclusive initiatives.
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She described the event “Victoria’s Secret: The Tour ’23” as a display that fell somewhere between the embodiment of male desire from the brand’s earlier heyday in the 2000s and the inclusive ideals advocated by many disruptors.
Victoria’s Secret and Pink brand president, Greg Unis, summarized this new direction for the company, reportedly conveying to investors, “Sexiness can be inclusive.”
He explained that “Sexiness can celebrate the diverse experiences of our customers and that’s what we’re focused on.”
Chief executive Martin Waters also reportedly acknowledged that the inclusivity initiatives did not yield profits for the company.
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He stated, “Despite everyone’s best endeavors, it’s not been enough to carry the day.”
According to BusinessOfFashion, the company’s new objective is to “enhance profitability and surpass the $7 billion mark in annual sales once again.”
To achieve this goal, the brand intends to introduce activewear and swimwear, modernize its current stores, and establish 400 new ones in international markets.
