When talking about sexy, allure, must-have lingerie one brand stands out in the consumer’s mind: Victoria’s Secret. Owning 35% of the lingerie market, Victoria’s Secret is still the dominating brand while constantly challenged by lingerie startups such as Intimint or Adore Me searching to attract customers with lower prices and marketing tricks. So, what is the secret of success behind Victoria’s Secret?
The $12 million annual fashion show that pays for itself
The brand owes its success to its annually over-the-top Victoria’s Secret Fashion Show. The televised event not only draws worldwide attention but also pays off the $12 million setup costs. The show reflects opulence and the brand’s values and is one of the best marketing strategies Victoria’s Secret has. On its first air in NY Times Square, it literally stopped the traffic.
A brand that creates celebrities
The Victoria’s Secret Angels are a major part of the brand’s image. Unlike other lingerie companies that use celebrities to market their lines of clothing, Victoria’s Secret launched modeling careers. Rather than picking known models and use them as spokespersons, the brand considered choosing specific models with which women customers would feel comfortable around and could relate to.
A close attention to the customer experience
Women don’t line up at Victoria’s Secret because of the low prices; they line up because of the luxurious experience the brand offers. The pink wallpapers, the inviting fitting rooms, the friendly and well-trained staff and its constant re-inventing strategy are what gets the customer to thinking that paying $50 more for their lingerie purchases is an investment.
A perfect mix of offline and online experiences
The brand is streamlining its store and online assortments, using online data to influence in-store purchasing decisions. For example, for items that are regularly bought online, the company ramps up offers for them in stores.
A wise international expansion strategy
The company has been smart about its global expansion. Victoria’s Secret avoided the temptation of overexpansion and only after opening and well monitoring several stores in London, it decided to go global. This year, the company entered the mainland Chinese market which could lead to a much larger expansion.
In conclusion, the Victoria’s Secret calculated strategies for captivating the American women and for expanding worldwide are what made this brand a top lingerie leader on the market. The luxurious customer experience, the amazing Fashion Show, held annually, and the brand’s Angels made it impossible for competitors even to come close to the Victoria’s Secret dominance.
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