Victoria’s Secret stock dropped 41% in 2018, amid general disliking and controversies around the brand’s marketing. According to a 2017 Wells Fargo study, the lingerie brand seems to be losing customers’ attention.
According to The New York Times, the survey showed that consumers are unhappy with the brand. According to The New York Times, 68 percent of respondents didn’t like the brand anymore than they did in the past. Only 60 percent liked the brand. “fake.”
Victoria’s Secret received a lot of attention last week for the controversial comments made in Chief Marketing Officer Ed Razek about the brand’s decision against using transgender or plus-sized models in their annual. fashion show. He compared the brand markets to their target market.
“It’s like, why doesn’t your show do this? Shouldn’t you have transsexuals in the show? No. No, I don’t think we should,”He spoke to Vogue. “Well, why not? Because the show is a fantasy. It’s a 42-minute entertainment special. That’s what it is.”
Razek later issued an apology for his comments, which were criticized across social media platforms. Razek stated that the brand would cast a transgender person if they met the requirements.
Model Kelsey Merritt from the Philippines, Maia Cotton from New Zealand, Willow Hand, Iesha Hodges from the USA, Melie Tiacoh, a model from Ivorian, and Myrthe Bolt from the Netherlands, walked the runway at the 2018 Victoria’s Secret Fashion Show at Pier 94 in New York City.
TIMOTHY A. Clary/AFP/Getty Images
Experts in branding say the brand’s problem lies in its marketing. Paul Lejuez, Citi’s retail analyst, stated to the New York Times that other brands will surpass Victoria’s Secret due to their inability to relate.
““Victoria’s Secret is losing share to other brands because it’s out of touch,”Lejuez. “The way it’s marketing is out of touch. Women don’t want to be viewed as stereotypical sexy supermodels buying lingerie just to impress men.”
The 2018 Victoria’s Secret fashion showThe show will air on December 2, featuring Kendall Jenner and Gigi Haid, as well as extravagant musical guests. showIt’s difficult to keep viewers. The TV special drew only 5 million viewers in 2017, 3 million less than Rudolph the Red-Nosed Reindeer that evening. 2013: fashion show9.7 million viewers.
Jan Singer, the CEO of Victoria’s Secret’s lingerie division, resigned on Tuesday. Denise Landman, CEO at PINK, will be stepping down at the end the year. So what is the brand’s best strategy to survive?
Shoppers and brand executives told the New York Times that they want to support a company that celebrates diversity and embraces sexiness.