Victoria's secret

Victoria's secret

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  Victoria’s Secret wasfounded by Roy Raymond in 1977 because he thought retailers only offered “racks of terry cloth robes and ugly floral print nylon nightgowns”. In 1982, Raymond sold the company to Leslie Wexner.
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  Why has Victoria’s Secretbeen so successful??
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  What is directmarketing? It is the use of consumer direct channels to reach and deliver goods and services to customers.
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  Types of directmarketing
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  The company targetedfemale consumers who buy for themselves, rather than male consumers who shop for their significant others.
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  The company focusedon consistency of fit, and stores were reconfigured to appeal to female shoppers
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  Today, Victoria’s Secretspends approximately $220 million a year and mails 390 million catalogs worldwide. Catalogs allow customers to browse and shop for lingerie in the comfort and privacy of their homes.
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  Victoria’s Secret takestelephone orders 24 hours a day. Telemarketing provide the opportunity to extend and test different product offerings.
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  BRAND MANTRA Products instylish colors, textiles, and patterns that made women feel sexy and glamorous in a tasteful manner.
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  Another milestone inVictoria’s Secret marketing strategy was its shift to include supermodel fashion shows and television commercials.
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  COMPETITORS 1.Fredireck’s of Hollywood 2.Friutof the Loom 3.Aerie by American Eagle 4.Jockey 5.Gapbody 6.Nordstorm
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  How does companyreach its target audience? In 1982, sale was limited to the male customers. Leslie Wexner realized the company should target female consumers. Launched a new range of products in colors and textiles. Focused on consistency of fit and stores were reconfigured to appeal to females.
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  What are Victoria’sSecret biggest challenges? • Competitors like AdoreMe are poaching top designers and offering similar products at cheaper price. • Plus size consumers are petitioning to offer larger sizes. • Victoria’s Secret still uses traditional brand positioning concepts such as “Angels”.
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  How does thecompany grow?
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  Today Victoria’s secretsell its products through alluring catalogs, through its website, in more than 1,075 stores.
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  The company recentlyexpanded with launch of PINK, a lingerie line targeted at 15-22 year old women.
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  • About • Howvictoria’s Secret became successful. • Brand Mantra • Competitors • Questions
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  DISCLAIMER Created by HimanshiSingla, Dyal Singh College, during a marketing internship under Prof. Sameer Mathur, IIM Lucknow.