What Happens When You Lost Sight of Your Core Values and Chase Something New
(July 29, 2022: This article was edited from its original format)
Call it a case study, an Op-Ed… or you can call it a rant. I recently read an article about Victoria’s Secret and had some pretty visceral thoughts and had to share them.
I just read this Retail Dive article titled Victoria’s Secret’s broken angel wings. The lead-in: “The third quarter brings the latest sign of trouble for L Brands’ dimming star. Can new lingerie chief John Mehas bring the light?”
The article talks about faltering sales, its famous fashion show and recent cultural missteps. Here is what was missed in the article: the journey to get there.
Back in the day…
About 20 years ago, Victoria Secret launched Pink, catering to the rising Millennials. The sexy collegiate was all the rage.
As a Gen X’er, I was becoming a new parent at the time, and I couldn’t relate. It felt like Victoria’s Secret had abandoned me. I had been their loyal customer for all those years, but suddenly it felt like I had aged out.
I understood, though. After all, who doesn’t chase youth?
There was also the fact that the M’s was a much larger market with money to spend. During the last 20 years, just as our culture pushed the boundaries of sexual openness, Victoria’s Secret designs pushed their designs forward in the same direction.
But time marches on. Those Millennials are now reaching the same age that Gen X’s were when Victoria’s Secret parted ways. The M’s are now becoming mothers and focusing on other life stages. More than that, just as in the generations before, the M’s bodies are maturing, and what looks great on a youthful body only accentuates the bulges that come with age. A different cut is required to make a bulge look like a soft curve that gives a woman confidence.
Unfortunately, that is not what Victoria’s Secret is selling.
Let’s go way back…
Way back in the day, there were two options in women’s lingerie: Fredericks of Hollywood and utility lingerie. While no one liked the cotton briefs, Fredericks was a little too risqué and sexualized for the mainstream. Victoria’s Secret entered the market and provided a lingerie option that gave women a way to feel sexy, empowered yet still sophisticated.
What do I mean by sophisticated?
It’s ageless beauty. It’s smart. If you google it, you’ll find it defined as a quality of much worldly experience and knowledge of fashion and culture. When you wore Victoria’s Secret intimates, you felt like you could be sexy and still project a depth of character.
So now, Victoria’s Secret finds itself where sales are down and losing market share. What should they do? Are they trading in the M’s for the younger woman? I am sure they would like to.
The problem is that, as the article explains, the next-gen (Gen Z) has a completely different value system and feels that Victoria’s Secret is over-sexualized. Of course, this is the time of the #metoo movement and the demand for more respect. Victoria’s Secret designs and advertisements are directly in opposition to that cause.
As Victoria’s Secret has made a business model out of chasing the youth, their designs seemed to lean towards a Fredericks of Hollywood feel over time. Gone is the ability to feel the beauty of experience and knowledge. Today, it seems that Victoria’s Secret products are all about youth and sex. Frankly, I would avoid walking past Victoria’s Secret store if my kids were still young.
It’s not surprising that Victoria’s Secret has broken its angel wing. I contend that if Victoria’s Secret hopes to maintain its dominance in the market, they need to revisit where it entered and consider returning to that.
One thing has not changed regardless of political and cultural stance: women don’t want granny pants, and we still want to feel beautiful, empowered, and sexy. BUT we do not want to feel like we have to hide the goodies in case our kids (or parents) start to snoop.
My thought is this:
Victoria’s Secret, if you want your wings back, you need to stop trading women in for the younger model and pivot with your customer as our lives change and the times change. Help us feel more empowered again. Keep the sexy, but above all, please bring back the sophistication.
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