The Powers That Be: Daily
Victoria’s Secrets & A Fendi Exit
Oct 15, 2024
Lauren Sherman, author of "Selling Sexy: Victoria's Secret and the Unraveling of an American Icon," shares her expertise on the significant rise and dramatic fall of Victoria's Secret. She reveals how the brand once dominated American consumer culture and contrasts its decline with the success of more inclusive competitors. Additionally, Lauren discusses Kim Jones' exit from Fendi, exploring the potential impact this shift may have on luxury fashion and the broader implications for industry leadership.
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Quick takeaways
- Victoria's Secret has struggled to maintain cultural relevance due to changing societal norms and increasing competition, despite significant annual sales.
- Kim Jones' exit from Fendi may catalyze a major shift within the fashion industry, affecting leadership and creative strategies among luxury brands.
Deep dives
The Rise and Fall of Victoria's Secret
Victoria's Secret has experienced a significant decline in cultural relevance and consumer interest over the years, despite still generating substantial sales. The brand peaked in profitability around 2016 but faced challenges that began surfacing as early as 2015, particularly linked to changing societal norms and the emergence of the Me Too movement. Shifts in consumer perceptions of beauty and the backlash against the brand’s sexualized marketing strategies contributed to its downfall. While it remains a considerable business with around $6 billion in annual sales, its former status as a cultural icon has diminished, overshadowed by competitors like Skims and Aerie.
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