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The Rise and Fall of Victoria’s Secret

Oct 20, 2024
Chantal Fernandez, co-author of "Selling Sexy: Victoria’s Secret and the Unraveling of an American Icon," shares her insights into the swift rise and dramatic fall of Victoria’s Secret. She discusses how founder Les Wexner’s understanding of consumer desires fueled early success, but the brand struggled to keep up with competition from companies like Skims and Aerie. Fernandez also delves into revitalization strategies, highlighting lessons from Abercrombie & Fitch’s turnaround, with an emphasis on quality, inclusivity, and modern consumer needs.
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ANECDOTE

Raymond's Lavish Spending

  • Roy Raymond, founder of Victoria's Secret, created a luxurious boudoir-like shopping experience.
  • However, his lavish spending habits led the company to near bankruptcy before Wexner's acquisition.
INSIGHT

Victoria's Secret's Peak

  • Victoria's Secret's peak success varied across generations, aligning with different cultural moments.
  • From the early 2000s spectacle to Taylor Swift's association, the brand resonated with diverse demographics.
INSIGHT

The Bralette's Impact

  • Victoria's Secret's downfall was partly due to ignoring the bralette trend, a symptom of larger internal issues.
  • This oversight revealed their lagging cultural understanding and inflexibility, ultimately weakening the brand.
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