Tag: Victoria’s Secret

  • Victoria’s Secret to Open First Full Retail Lingerie Store in China

    Victoria’s Secret to Open First Full Retail Lingerie Store in China

    Good news to all fashionitas out there! Premium lingerie brand Victoria’s Secret has announced that it will be launching its first full retail store in the mainland, offering its well-known bras and panties, its China-based office told China Daily.

    The firm is set to open a 1,475-square meter boutique at Lippo Plaza – the former house of one of Louis Vuitton’s four retail outlets in Shanghai. The lingerie shop is anticipated to make its debut by the end of the year. However, according to an insider, specific details have not been confirmed as the opening date largely depends on when the customs clears the company’s entire collection.

    Since last year, Victoria Secret’s parent company L Brands has opened 20 stores across the mainland including one in Shanghai, Guangzhou and Chengdu. But, these outlets are all advertised as “Victoria’s Secret concept stores,” with only accessories and beauty products such as shampoos, perfumes and canvas bags available.

    The insider revealed that although the company remains cautious of selling its prime products in China, L Brands will continue to widen its concept outlets in more cities.

    Despite plummeting sales in the luxury goods industry, the lingerie market has been experiencing soaring sales, with a double-digit growth rate. According to Frost and Sullivan, a consultancy firm, the lingerie market in China will reach approximately $240 million by the end of the year.

    Experts predict that apart from bags and shoes, tremendous amount of money will be splurged on intimate apparels as the spurring growth of the middle class will start bragging of their new wealth.

    Victoria’s Secret is globally known for its annually televised fashion shows. But those lacy apparels, which the company allocates millions to market with top models, are apparently only available in three countries, namely, Canada, the United States and the United Kingdom.

  • Victoria’s Secret to open first flagship store here

    Victoria’s Secret to open first flagship store here

    Victoria’S Secret will open its first South-east Asia flagship store in Singapore by year end and unveil a full assortment of its sexy wares.

    The international lingerie brand will open the 12,000 sq ft outlet in the fourth quarter of the year at Mandarin Gallery in Orchard Road.

    The two-storey store, which faces the street, will take over the units that Mont Blanc, Bimba Y Lola and Bathing Ape used to occupy.

    These brands will be moving to other areas in the four-storey mall. The concierge counter on level two was also relocated to level three to accommodate the largest American retailer of women’s lingerie.

    The nine existing Victoria’s Secret stores here are all the brand’s beauty and accessories stores. They sell fragrances, accessories like bags and only a small range of women’s underwear.

    Patrina Tan, senior vice-president of retail, marketing and leasing at Overseas Union Enterprises, which manages Mandarin Gallery, said that the hoarding on the mall went up last week.

    “Mandarin Gallery has always been known to be a mall that houses the best of the best in retail and food. We have the king of ramen, the king of ribs. So naturally, Victoria’s Secret echoes and reinforces what the mall stands for,” she said.

    There are plans for the brand to hold fashion shows here on top of other events, she said. “It is a long-awaited brand that has never been available in this part of the world.”

    The Straits Times understands that prices at the store here will differ from those elsewhere as they will be based on domestic variables like taxes and profit margins.

    Its product range will be identical to that offered in stores in the United States and will not be tailored to the local market.

    Victoria’s Secret is one of several global brands that have chosen to set up shop here recently.

    French sporting goods store Decathlon will open a 35,000 sq ft store in Chai Chee Technopark next week; popular French women’s wear label Maje opened its first flagship store at The Shoppes at Marina Bay Sands in October; Singapore’s first Apple store will open next year; and the renowned Dover Street Market will soon make its debut here.

    Experts said that international retailers, faced with economic challenges in developed markets, are looking to emerging markets such as South-east Asia.

    “Singapore is seen as an ideal test bed for brands looking to break into South-east Asian markets and is viewed as an important place to build brand awareness,” said Sarah Lim, Singapore Polytechnic’s senior retail lecturer. “Customers in countries in the region will identify with the brand when it moves over to their countries.”

    She said that Victoria’s Secret will up the ante in the retail scene here: “They don’t just sell products, but strengthen their brand with fashion shows and experiential shopping. Other brands can learn from them.”

    Shoppers like Gina Farr, 32, are excited.

    The fitness trainer is a fan of the brand’s underwear and owns several pairs that she bought from the smaller stores here.

    “The quality is great, and there will be a wider range including bras. The range of items they have here now is too small,” she said. “I would probably shop there quite often when it opens.”

  • Swimsuits drive Victoria ’s Secret sales

    Swimsuits drive Victoria ’s Secret sales

    Victoria’s Secret – which accounts for more than one third of the US lingerie market – says swimsuit sales are growing at twice the rate of its overall growth.

    In the first quarter of this year – not even summer season in the US – swimsuit sales soared 10 per cent, while the brand’s overall sales grew just five per cent. Swimwear was introduced in 2002 but only in the last few years has the range been widely stocked as a core line across the brand’s more than 1000 company-owned stores.

    CEO Sharen Jester Turney told an investor conference call that swimwear is not the only category driving growth.

    “We’re very excited and very pleased with our sport business, especially in our bra category,” she said.

    “That’s where we’ve been putting a lot of our emphasis and seeing tremendous growth.”

    In fact, sportswear was only on the company’s radar just a couple of years ago, yet sales are already nearing $250 million annually.

    Analysts predict the brand could eventually grow sportswear sales to $1 billion dollars (the brand’s total 2012 sales were more than $6 billion), with Victoria’s Secret set to launch its Sport offer into another 150 stores in the current quarter.

  • Fast fashion future for Victoria’s Secret

    Fast fashion future for Victoria’s Secret

    The stunning global success of European fast fashion experts Zara and H&M is promoting a shift in strategy for what is possibly the world’s best known lingerie brand, Victoria’s Secret.

    According to a report by Business Insider, Victoria’s Secret is getting into fast fashion.

    The US-based brand revealed in a conference call with analysts the company plans to hasten its design and re-stocking process

    “Basically almost all of our panties today are on some kind of speed program,” CEO Sharen Turneysaid in the conference call.

    “And those speed programs allow us to read the business on a Monday and be back in stock in the stores within 15 to 25 days.”

    It also wants to shorten the timeline between design and shelf, the report said.

    “We’ve already taken probably four months out of our development time and believe there is probably another two months to continue to work in,” Turney said.