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Beauty begins underneath. Be it the backless blouse you are teaming up with a traditional saree for your friend’s wedding or the shimmery bodycon dress with a plunging neckline you intend to wear to the cocktail party, it’s the right lingerie that can make or break an outfit. As more women become aware of their body types, they don’t mind scrolling through pages of designs on the Internet before choosing the right cut and fit. Adding to their
Beauty begins underneath. Be it the backless blouse you are teaming up with a traditional saree for your friend’s wedding or the shimmery bodycon dress with a plunging neckline you intend to wear to the cocktail party, it’s the right lingerie that can make or break an outfit. As more women become aware of their body types, they don’t mind scrolling through pages of designs on the Internet before choosing the right cut and fit. Adding to their innerwear options from next year will be the iconic American brand Victoria’s Secret. Victoria’s Secret, known for its ‘angels’ walking the ramps around the world, launched its website in India on November 22, 2021. The company has partnered with Mumbai-based Major Brands, its India distributors, and marketers. Founded in 2001, Major Brands is also responsible for bringing to India brands such as Aldo, La Sensa, Bath and Body Works, Charles & Keith, Beverly Hills Polo Club, Inglot, and Call It Spring. A touch of luxuryVictoria’s Secret took nearly half a century — 44 years since its launch in 1977 — to enter India. The company has so far launched only its beauty and perfume range here. The lingerie business is expected to start in 2022. Tushar Ved, CEO, Major Brands, says, “Victoria’s Secret is a huge brand in the lingerie, skincare, and perfume categories. We at Major Brands have been working towards getting similar premium brands to the Indian markets for years now. We are planning to bring one to two premium international brands every year to India. After successfully bringing in the likes of Aldo, Bath and Body Works and the rest, Victoria’s Secret made sense.” While the launch of Victoria’s Secret is being celebrated by consumers, who unless travelling internationally would not have access to it, the brand in the past few years has been facing a lot of flak due to its ‘outdated’ standards of beauty (read: skinny models). Besides, L Brands, the previously held parent company, decided to separate its two business operations right in the middle of the pandemic. As of mid-2021, Bath and Body Works and Victoria’s Secret are operating and trading as separate entities. The split was done to increase shareholders’ value, and to focus on both businesses individually. Furthermore, the pandemic led to the parent company shutting down nearly 240 outlets in North America, as mentioned in its 2021 annual report. Considering the myriad issues that the brand is dealing with, expanding into a country like India with its beauty and fragrance categories seems like a survival move. With a burgeoning number of women willing to spend more on beauty and lingerie, this move might actually work. Reaching out to the right customerAs of today, Victoria’s Secret is available in India only through the direct to consumer (D2C) channel. This channel gained a lot of confidence and became the most sought-after retail strategy for all beauty and fashion brands during the pandemic. One of the primary reasons is that brands do not have access to their own consumer data when selling via platforms such as Nykaa, or Myntra, irrespective of the e-commerce platform being inventory-led or marketplace. That’s a problem. Major Brands has no plans to partner with e-commerce players for Victoria’s Secret. However, its other brands, namely Bath and Body Works, Aldo, and Charles & Keith, are available on Myntra and Nykaa. “We decided to launch the D2C channel first for the beauty and perfume range, as this allows us to maintain the inclusivity and experiential factor that we would be bringing in for Victoria’s Secret EBOs (exclusive business outlets) as well,” says Ved about the retail strategy. “When consumers are shopping from a brand like Victoria’s Secret, they are looking for the experience more than anything else. And at Major Brands, we work towards successfully creating that at every level.” In addition, most brands pay nearly 20%-35% of their final order value to the e-commerce platforms as marketing and visibility costs. Again, that’s a substantial margin which could be added to the top-line revenue. “Earlier (before the pandemic), we used to have distribution centres across cities, which could only take large retailer orders. However, during the pandemic, we worked on that. Now our distribution centres are also our fulfilment centres, and we can ship even one order to a customer directly. We have partnered with all possible last-mile logistics companies and are covering nearly 20,000-plus PIN codes,” says Ved regarding the D2C operations for Bath and Body Works and Aldo. When the company launches Victoria’s Secret offline stores in 2022, the brand will be available only via its EBOs located in malls and high-street shopping areas. Currently, Major Brands is importing all Victoria’s Secret products and plans to fulfil orders through its distribution centres. For some of the brands distributed by it, a minor part of the production is manged in India as well. However, imported products account for the majority of Major Brands’ sales. “Major Brands leases all its offline outlet properties, but the stores are operated end-to-end by us. We train the staff, and every employee in the store is on Major Brands’ payroll,” says Ved. “The Victoria’s Secrets stores will be 5,000 sq ft-7,000 sq ft, and carry the full range — lingerie, the PINK brand, and the beauty range. We want our consumers to get the complete experience of shopping at a Victoria’s Secret outlet.” When working with international brands, it’s important to understand how to source products, Ved adds, especially for the online business, which has grown exponentially. Before the pandemic, Major Brands generated only 3% of its revenue from online. During the pandemic, this increased to 33%, which was its target for a few years into the future. “How you manage distribution is the key to any brand’s success in India. It is important to partner with the right company,” says Ved. Premium beauty and personal-care business India’s beauty and personal-care market is estimated to be INR115,110.11 crore for the calendar year 2021, according to market-research firm Euromonitor International. Out of this, 5% is driven by the premium category, and the rest by the mass category. However, the premium category grew at a CAGR of 9% over 2015-2021, while the mass category grew at 6%. Industry experts believe the premium category will grow strongly over the next few years. This is primarily driven by millennial women, who are spending more on beauty and personal care compared to earlier generations. While the Gen Zers are buying more in bulk, their average order value is still lower than that of the millennials. Ved says, “Although the D2C website has just been launched, we expect our orders to be generally between INR4,000 and INR8,000. Victoria’s Secret as a brand is aspirational and has some of the most popular brands under its umbrella. We expect Bombshell perfume to do well, just like it did in the western markets.” Such an order value is nearly 60% higher than those of the country’s leading beauty platforms. The average order value for Nykaa is INR2,500, and for Purplle.com, orders are often between INR1,500-INR1,700. Victoria’s Secret Bombshell is one of the company’s top-selling perfume brands. The range includes Bombshell, Bombshell Passion, Bombshell Seduction, mists, lotions, and roll-ons. The 100ml bottle of Bombshell eau de parfum is priced at INR8,999, while the 50ml one costs INR6,499. The full-bottle price of the mists and lotions start at INR2,999. Victoria’s Secret isn’t in the premium category on its home turf, but it is positioned and branded as one in India because of the lower average order values and lower spending on this category. However, premium brands are what Major Brands specialises in. It is working towards a retail-pricing strategy that does not dilute the brand’s aspiration factor. The company has done it successfully with Bath and Body Works and La Senza. But Victoria’s Secret is priced higher than Bath and Body Works, whose mists come at INR1,499 for a full bottle, at its lowest price. India’s premium-skincare business has been growing steadily over the years. The total skincare market is sized at INR16,679.9 crore by Euromonitor, and of this, the premium category accounts for nearly 8%. Despite the growth, international brands have not been doing the best in the country. The Body Shop, which entered India with Quest Retail as its distributor, has been here for the past 15 years. The company is the sole distributor of the brand along with Kiehl’s, another premium skincare brand. According to corporate database Tofler, it reported revenues of INR402 crore in 2020. Industry experts believe the expected growth for premium beauty and personal care will be stronger in the coming years compared to the last decade, which places Victoria’s Secret in a good position. India vs. the US markets Victoria’s Secret is the largest lingerie retailer of the US even though its parent company shut down nearly 250 stores across US last year, and had plans to close another 50 during 2021. However, the exact number of store closures was not confirmed. According to L Brand’s 2021 annual report, internationally (the company operates in 70 countries), Victoria’s Secret beauty and accessories stores decreased to 338 as of January 30, 2021, from 360 on February 1, 2020. The Victoria’s Secret’s stores (which cater to its lingerie business) increased from 84 to 120 during the same period. The total number of international stores, including the Bath and Body Works brand outlets, increased from 722 to 746. Victoria’s Secret was listed as a separate stock on NYSE in August this year, and the opening value of the share on August 2 was USD45.25. Its closing price on November 26 was USD53.88. Clearly, the brand is focussing on international markets in terms of footprint expansion. In India, as the vaccinated population steadily increases, offline stores, which continue to be the backbone of retail in the country, have started seeing a growth. This could become a key market for the premium beauty and lingerie maker. It has entered India at a time when consumers are “revenge shopping” and have the means to afford aspirational brands. “Victoria’s Secret is an iconic brand with a ready consumer base. As a company, we understand how premium retail works. We have been working with Bath and Body Works in India for some time now. We believe this is the right time to focus on the premium beauty and lingerie market. Consumers will want premium options, and the deciding parameter in the coming years will be the quality and the experience offered by the brand,” says Ved. (Graphics by Sadhana Saxena)
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Victoria’s Secret launches India online store; to have brick and mortar outlets
Home / Companies / News / Victoria’s Secret launches India online store; to have brick and mortar outlets1 min read.Updated: 23 Nov 2021, 11:31 AM ISTLivemint
- Victoria’s Secret was part of erstwhile L Brands, Inc, an American specialty retailer based in Columbus, Ohio. Earlier this year L Brands, Inc. changed its name to Bath & Body Works, Inc
NEW DELHI: American beauty and intimate wear retailer Victoria’s Secret has launched its online store in India, years after it opened a single store in the country, to sell its range of fragrances, body care, accessories, and beauty products. The retailer along with its local franchisee retailer Major Brands (India) Pvt. Ltd on Tuesday also confirmed plans to launch full assortment lingerie brick and mortar stores in Delhi and Mumbai in summer 2022.
The retailer had opened its maiden store in India at the Delhi airport back in 2014, but limited its collection to just beauty and fragrances. Its popular intimate wear was left out. The store was shuttered last year.
The e-store, www.victoriassecretbeauty.in, officially launched on 22 November, will house the brand's fragrances, body care, mist collections, accessories, and PINK beauty collections, the retailer, in India through its franchisee retailer Major Brands India, said.
Victoria’s Secret was part of erstwhile L Brands, Inc, an American specialty retailer based in Columbus, Ohio. Earlier this year L Brands, Inc. changed its name to Bath & Body Works, Inc.
Bath & Body Works is a chain of fragrance and body care products. Major Brands also runs the Bath & Body Works stores in India.
In August, L Brands concluded demerging the Victoria’s Secret business into an independent, public company through a spin-off to L Brands shareholders. The new company, named Victoria’s Secret & Co., includes Victoria’s Secret Lingerie, PINK and Victoria’s Secret Beauty. It is listed on the NYSE has nearly 1,400 retail stores worldwide.
It sells a wide assortment of signature bras, panties, lingerie, casual sleepwear and athleisure as well as fragrances and body care. Its annual fashion show, which started in 1995, that features some of the world’s top supermodels has drawn criticism in recent years for being “sexist", “outdated" and "lacking diversity".
Major Brands operates as a partner in India for international labels such as Aldo, Aldo Accessories, Bath & Body Works, Charles & Keith, Beverly Hills Polo Club, Call It Spring, Inglot, La Senza, and now Victoria’s Secret.
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Victoria’s Secret is the world’s largest specialty retailer of modern, fashion-inspired intimates, lingerie, casual sleepwear, athleisure and award-winning prestige fragrances and body care, focused on championing women all around the world.Visit Us
Victoria’s Secret PINK is lifestyle brand focused on celebrating and supporting the power of community, fostering positive mental health among young adults, and being kinder to the planet.Visit Us
Pink (Victoria's Secret)
Brand of apparel
|Founded||October 16, 2002; 19 years ago (2002-10-16)|
Number of locations
|141 stores (2020)|
|Amy Hauk, CEO (2019)|
Pink (stylized PINK) is a lingerie and apparel line by Victoria's Secret, a former subsidiary of L Brands, targeting younger women than their main line. The target demographic consists of youth from ages 13 to 22. PINK had a regular segment featuring their products in the Victoria's Secret Fashion Show, held through 2018. Sales at the company were initially swift, reaching $1 billion in 2010. Reports of decline due to shifting consumer preferences appeared in 2018.
On October 16, 2002, Victoria's Secret announced the launch of PINK, a new product line targeted to young adults and older teenagers. The product first appeared in late 2003 in select stores, with a full chain-wide roll out in July 2004. Pink was launched strategically with the aim of creating customers from young women who would then go on to shop at Victoria's Secret stores.
The PINK brand sells underwear, swimsuits, sleepwear, loungewear, beauty products, and accessories, with the intent to transition buyers into more adult product lines of apparel at Victoria's Secret. The company often placed its stores side-by-side with Victoria's Secret stores.
Pink's competition in the lingerie market for the youth demographic includes Abercrombie & Fitch and Aerie by American Eagle. The company's pajamas and sweat pants proved popular within the teenage and preteen set from 2006.
The company grew rapidly in the 2000s, adding stores domestically, and by 2010, sales at PINK reached $1 billion. On November 1, 2009, PINK established its first stand-alone store in Canada, prior to the main Victoria's Secret brand opening its first Canadian store on August 12, 2010.
After working as a leading executive at L Brands and Bath and Body Works, Richard Dent joined the management team at PINK in 2005. He held several key leadership roles at PINK, including the jointly-held responsibilities of COO, SVP, and co-leader of the division. Under Dent's leadership, the brand established a partnership with the National Football League (NFL), Major League Baseball (MLB) and the Collegiate Licensing Company for use of the names and logos of 60 universities in a line of PINK clothing. The Pink "Collegiate Collection" was released in July 2008. Dent expanded the company’s college line in 2009 to include historically black colleges and universities (HBCUs), in response to a campaign by a student at Howard University.
Denise Landman was appointed CEO at PINK in 2011 and served until she retired at the end of 2018. Landman was succeeded by Amy Hauk as CEO in 2019.
The PINK line has been promoted through college tours, and in 2011, the brand continued to work in partnership with NFL teams to market apparel containing team logos to teenage girls and college-aged women.
Reports of declining sales at PINK began to appear in 2018, following shifts in consumer preferences towards athleisure and a move towards more body-positive brands of underwear than parent brand Victoria's Secret. Analysts have regarded PINK as more nimble, with a better track record of shifting their marketing towards inclusivity, than their parent brand, which faced an onslaught of controversy in 2019 and 2020. As of 2020, the company had 141 stores, all attached to Victoria's Secret stores.
In March 2013, Victoria's Secret PINK launched a marketing campaign for its "Bright Young Things" underwear line, directed at teen and pre-teen girls, that drew considerable negative attention. The underwear contained wording such as "call me", "feeling lucky", and "wild". A Change.org petition calling for the company to discontinue its product line amassed over 24,000 subscribers. After the criticism increased, Victoria's Secret removed the items from the company's website and said that the ad campaign was meant for college-age women.
Kylie Bisutti, a former Victoria's Secret model, headlined several Pink to Purpose events from 2013 to 2015, and since 2018. These events, unrelated to the retailer, are described as an encouragement for women "to leave the PINK lifestyle to find PURPOSE!" Bisutti perceives her past as "being at the pinnacle of the PINK lifestyle of fake, broken relationships".
PINK was central to the controversy that followed the 2018 Ed Razek interview with Vogue, in which he made statements against the inclusion of plus-size and trans models in the Victoria's Secret Fashion Show. In August 2019, the first openly transgender model, Valentina Sampaio, was hired to work for PINK. Razek's departure was announced days later.
PINK is a division of Victoria's Secret, and was owned by American retail company L Brands. Victoria's Secret was a subsidiary of L Brands, with financials for PINK reported jointly with those of Victoria's Secret.
In a 2009 letter to shareholders, the company's founder, Les Wexner, stated in that PINK had "brought vitality, youth, energy, and an all-new customer base to base Victoria's Secret."
The PINK brand has its own spokesmodels that serve as brand ambassadors. Zuri Tibby became the brand's first spokesmodel of color in 2016.
PINK has a college line that focuses brand recognition through public university athletics, started in 2008 under the leadership of Richard Dent.
The company has partnered with both MLB and the NFL for lines launched by Prinsloo as well as then Angels Chanel Iman, Erin Heatherton, and Candice Swanepoel. Since then, spokesmodels, including Hosk and Jessica Hart, have attended sporting events to promote joint ventures with MLB and the NFL.
Starting in 2010, the brand marketed their product line at spring break parties, often hosted by a pair of female models (including Behati Prinsloo, Chanel Iman, Elsa Hosk, Rachel Hilbert, Sara Sampaio, and Devon Windsor) and a male guest such as Alexander Ludwig,Nick Jonas,Cody Simpson, or Diego Boneta
The brand, via a "PINK Nation" campaign, has also promoted their products with campus bashes featuring popular performers, as in 2014 with Iggy Azalea at University of Nevada Las Vegas.
Additional models appeared at events for the brand, including Taylor Marie Hill,Emily Didonato, and Jessica Strother as well as the celebrity Ashlee Simpson.
Victoria's Secret Fashion Show
There has been segment for PINK in the annual Victoria's Secret Fashion Show from 2006 to 2018, the final year the show was held.
In 2007, the brand held an event featuring spokesmodel Miranda Kerr, alongside Jessica Stam and Rosie Huntington-Whiteley. The company ran a contest called "Pink Road Trip to the Runway", awarding a spot in the 2007 fashion show to winner, Katie Wile.
The Fashion Show runway segment for PINK was initially accompanied by recorded music from popular artists. From 2010 through 2018, the PINK runway segment featured live performances by widely recognized music acts.Katy Perry was the first live performer for the PINK runway at Victoria's Secret Fashion Show 2010, performing a medley from her recently released Teenage Dream album, in addition to performing "Firework" in a segment for the main Victoria's Secret brand.
In 2012, Justin Bieber performed during the Pink segment of the fashion show, while the notorious bicycle corset, featuring only handlebars with streamers, was modeled by Jessica Hart.
PINK has also marketed their brand by sponsoring fashion show viewing parties during air time, such as in 2013 at West Virginia University.
Pink runway history
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