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Victorias secret delivery packaging1/10/2024 ![]() Sales growth at stores open at least a year has tumbled for six consecutive quarters.Īs social norms defining beauty and sexiness have changed over the years, Victoria’s Secret has stuck to the same playbook and lost a large number of customers to its competitors. The lingerie chain has been losing its grip on shoppers by offering underwear that emphasizes the erotic over comfort. Kloss modeled for Victoria’s Secret from 2011 to 2015 and is a sister-in-law of Ivanka Trump. “The reason I decided to stop working with Victoria’s Secret was I didn’t feel it was an image that was truly reflective of who I am and the kind of message I want to send to young women around the world about what it means to be beautiful,” said Karlie Kloss in an interview with Vogue magazine in 2019. In 2019, the brand announced that it would no longer air the fashion show. In 2018, the show drew only 3.3 million viewers, down from 9.7 million in 2013. The show quickly became a pop-culture phenomenon, and managed to attract millions of viewers every year since its broadcast debut in 1999.īut the once prime-time appointment television show was widely criticized for promoting unrealistic ideals of beauty and suffered from a shrinking audience. In 1995, Victoria’s Secret launched the brand’s first annual fashion show, which features supermodels sporting barely-there lingerie while wearing massive wings, heavy makeup and six-inch heels. By the early 1990s, the brand generated $1 billion in annual revenue and became an American lingerie retailer empire. Two years after Wexner took it over, Victoria’s Secret made $500 million in sales. In 1982, Raymond sold the failing San Francisco company for $1 million to Wexner. Victoria’s Secret got its start in 1977 by American businessman Roy Raymond, who wanted both men and women to be comfortable shopping for lingerie at a high-end store. It’s a stunning decline for a brand that once defined femininity for millions of American women. (LB)’ 82-year-old CEO and chairman, will step down from the company he founded. ![]() (LB), Victoria’s Secret’s parent company and one of the biggest American clothing companies, sold a controlling stake of the lingerie brand to a private equity firm on Thursday. This week, Victoria’s Secret was taken private in a deal that values the brand at just $1.1 billion. Five years ago, Victoria’s Secret produced nearly two-thirds of the revenue for its parent company, which was then worth $28 billion. Victoria’s Secret has struggled to keep pace with shifting consumer tastes.
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