Victoria's secret

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  • Victoria's secret

    1. 1. Victoria’sSecretTeddy Lord, Cameron Martin,Colby Hough, and Liz Leinbach
    2. 2. How it all started• Roy Raymond established Victoria’s Secret in1977• Started as a store for men• Limited Brands acquired Victoria’s Secret in1982– Completely overhauled the company
    3. 3. Limited Brands• Formerly known as “The Limited Inc.”• Slowly made Victoria’s Secret into one of thetop 10 most recognized brands in the world– Now a store for Women, not men• Expanded to 1,019 stores in the United States
    4. 4. Target Market• Customers aresexy, confident, and have adesire for “sensual fashion”• Targets middle class women– Ages 20-40; does NOTspecifically target youngwomen• Targets men shopping forgirlfriend, wife, etc.– Victoria’s Secret was createdby Roy Raymond, as a placefor men to buy their wiveslingerie
    5. 5. Target Market (PINK)• Victoria’s Secret PINKCollection• Targets a younger, collegeaged woman (19+)• Inevitably attracts teens andhigh school girls– Brighter colors, trendyprints, less sensual attire– “Designed to be more cutethan racy”• Meant as a gateway in themain Victoria’s Secret Line
    6. 6. Victoria’s Secret Stores• Average size: 6,000 sq ft• Very unique layout– Most have black or cream colored interiors– Very nice interiors– Sub-brands separated in the store
    7. 7. Flagship store NYC• Located in Herald Square• 25,000 sq ft• Three floors– Each floor intricately pieced together by Victoria’sSecret designers
    8. 8. Retailing• Retail stores located all throughout theUnited States• Started off as 3 boutiques• First national lingerie store (multiplecollections)• Sold at Victoria’s Secret:- PINK: life style brand for youngerwomen, colorful stores, some separatestores- Swimwear: now available in stores- VSX Sport: women’s athletic apparel- Beauty: makeup, fragrances (also men’s),skin/hair care- Clothing: handbags, accessories, jackets,denim, tops, dresses
    9. 9. Product Sourcing• Limited Brands takes much pride in sourcing from placesthat meet their strict standards– No tolerance policy• Deem their products “fair trade” and “good forwomen, good for the children who depend on them.”
    10. 10. Scandal in Burkina Faso• In late 2011 people discovered sourceof some of Limited Brand’s importedcotton• Cotton specifically used in Victoria’sSecret• Came from impoverished cotton farms– Child labor– Abuse– Unpaid workers
    11. 11. Digital Strategies• Omni Integrated Digital Strategy = same experience everywhere• Social Media- Facebook (2nd most popular retail store on the site, 18thmost popular brand)- Separate pages for Victoria’s Secret, PINK, and VSX- Twitter, Pinterest, Instagram, YouTube- Respond to customer comments and questions
    12. 12. Digital Strategies• offers, deals, organized- VS ALL Access• Email Marketing- new product= email blastcustomers• Mobile Marketing- apps for iPhone, iPad, Androidphones• TV/ Radio Ads- popular super bowl ads- Victoria’s Secret Fashion Show
    13. 13. Victoria’s Secret Catalogue– Direct marketing approach– $220 million a year is spent on thecatalogs sent to customers homes• includes postage, creative, printing,paper and circulation– VS uses print to drive more"emotional content”– The Victoria’s Secret brand is in themature stage of the product lifecycle• Emphasis is focused on the productrather then creating a buzz aroundtheir brand
    14. 14. Current Marketing Strategies:Freebies– Coupons are sent out in themail every month with freegifts– No purchases are necessary– Creates traffic in the store– Causes impulse purchases• Costs for freebies are low incomparison to the profits
    15. 15. Semi Annual Clearance Sales– Items only go on salesduring specified timeframes– Items are discountedbetween 25 to 70%– Creates space in retailstores and warehouses fornew products– Targets different types ofconsumers
    16. 16. VS Secret Rewards– Gift card with an unknownamount of money– Redeemable within a specifiedtime frame on the card– Values range from $10-$500– Can be utilized online or in theretail store- Drives traffic- Acts as an incentive to makepurchases with the help of thereward card
    17. 17. Expansion of PINK– 20% of stores carry the fullPink assortment– In 2012, 34 U.S. storestotaling 109,000 square feet– In 2013, an expansion to 83stores will occur with 282,000square feet“Growth in lingerie and Pink were the primary catalystsfor a 3 percent increase in VS’ fourth-quarter same-storesales, while beauty business was flat and holidayperformance.”- Stuart Burgdoerfer (WWD)
    18. 18. The VS Designer Collection- High-end lingerie collection- In-house designers- Sold online at VictoriasSecret.comand at 13 VS locations“Bras retail from $98 to $158; undiesand garter belts are $38 to $68; babydolls and teddies are $158 to $218,and the kimono and merry widow are$120 and $298, respectively.”-WWD
    19. 19. Victoria Secret Fashion Show– Incorporates their under garmentsinto outrageous themed costumes– 11.5 million viewers in 2012– Mostly women– They have created a tradition• “Angel wings” implemented in 1998– Cater to their target audienceintegrating popular entertainers• Justin Bieber and Rihanna“The 2012 themes: Circus, DangerousLiaisons, Pink Is Us, Silver Screen Angels,Angels in Bloom and Calendar Girls.”
    20. 20. CompetitorsAerie- American Eagle• Launched in 2006• Targets 15-25 year old women• Intimates Collection– Bras, thongs, sleepwear,sweatpants, “adorable wear”• Competes with PINK– “Dorm-Wear” fad– Price?– Appeal?– Preference?Bare Necessities• Launched in 1998– Second largest online specialtyretailer for intimate apparel• Known for assortment of bras andlingerie• 3700 styles from 170 brands– Bras, panties, swimwear, etc.– Competes with Victoria Secret’s mainlingerie selection• Targets middle aged women– Ages 20-50
    21. 21. Major Strengths• Market Leader• Extremely good atadvertising– E-mails, TV commercials,Fashion Shows, Facebook,Twitter, etc. ($66 million peryear)– Traditional and DigitalMarketing• Vast number of stores• Very few competitors, all ofwhich are less successful• Multiple Sales Channels
    22. 22. Major Weaknesses• Parental view of Victoria’s Secret– Many people think Victoria’sSecret is wrongfully exposingpreteens to “adult items”– “Bright Young Things”?• Unable to expand their targetmarket; very specific market
    23. 23. VS Fashion Show
    24. 24. Work Cited••••••