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Victoria's secret- mini case
Victoria's Secret, founded by Roy Raymond in 1977 and sold to Leslie Wexner in 1982, remains the largest lingerie brand in the U.S. with reported net sales of $2.438 billion. The brand targets a diverse demographic with its 'Pink' line for younger women and utilizes various marketing strategies including fashion shows and celebrity endorsements. Recent challenges include a narrow product line and competition from cheaper brands, prompting shifts in product offerings and marketing approaches.
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Victoria's secret- mini case
- 1. A BODY FOREVERYBDOY
- 2. About the Brand •Roy Ramond founded the company in 1977 and then later sold it to Leslie Wexner in 1982 for $1 million. • Largest Lingerie brand in the united states till date (reported net sales of $2.438 billion for December, an increase of 1% over last year) ROY RAMOND
- 3. Story Behind Victoria’sSecret • A Stanford MBA named Roy Raymond wants to buy his wife some lingerie but he's too embarrassed to shop for it at a department store. He comes up with an idea for a high-end place that doesn't make you feel like a pervert. He gets a $40,000 bank loan, borrows another $40,000 from his in- laws, opens a store, and calls it Victoria's Secret. Makes $500,000 his first year. He starts a catalogue, opens three more stores, and after five years he sells the company to Leslie Wexner and the Limited for $4 million.
- 4. Diversity Victoria’s Secret PINKItself Victoria’s Secret Body Care Products
- 5. PINK • A lingerieline by Victoria’s Secret targeting younger women than their main line. The target demographic consists of youth from ages 12 to 22. • Expects this youth to be loyal to the brand and buy from the mother brand in future.
- 6.
- 7. Product Lines • Lingerie •Sleepwear • Clothes • Swimwear (used to) • Beauty
- 8. How it reachesit’s Customers? • Television Ads • Multi-Utility Stores • Online sites • 24/7 ordering line
- 9.
- 10. Fashion Shows • HiresInternational models • Mega Performances by Celebrities
- 11. • Angel Wings•Fantasy Bra (Diamond studded)
- 12. Strategy Intimate Product + Innovation +Direct Marketing = Stylish, Trendy, Accessible and Acceptable Product
- 14. Success • Happy Customers •Great Satisfaction • Brand Loyalty
- 15. Challenges • Narrow ProductLine • No cultural variation across the globe • Similar cheaper brands • Celebrity endorsements- economic burden
- 16. What is itdoing to cut down it’s costs? • Removed swimwear • Removed accessories • Removes apparels • Stopped sending catalogues
- 17. What’s New forVictoria’s Secret? • Expand Product line • Endorsing common people • Sponsoring general events • Adding cultural variations
- 18. SUMMARY • About thebrand • Story • Diversity • Product line • How it reaches its consumers • Strategy • Challenges • What’s new?
- 20. Disclaimer This is amini case study prepared by Dhwani Kothari from J. D. Birla Institute (Department of Management) during a marketing Internship under Professor Sameer Mathur. Prof. Sameer Mathur IIM LUCKNOWDhwani Kothari JDBI