Victoria’s Secret is actually struggling because women want to be comfortable

The wealthiest man in Ohio is actually a lingerie salesman

When you think about Victoria’s Secret, you think push-ups, Miracle Bras along with sexy lingerie.

The problem for Victoria’s Secret is actually in which women don’t want those anymore.

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In early 2016, Victoria’s Secret doubled down on sexy underwear. the idea pulled its swimsuit along with apparel collections off the shelves, slashed promotional deals along with stopped printing the Victoria’s Secret catalog.

“The company walked away coming from $400 million at the same time they changed their promotional appeal,” said Instinet analyst Simeon Siegel.

While Victoria’s Secret was from the middle of its reboot, a consumer shift took hold in which opened the door for competitors: “Bralettes.”

Designed for comfort, bralettes are unconstructed bras without padding or underwire. They’re around half the cost of Victoria’s Secret underwire bras, which run about $35.

Victoria’s Secret tried to step up its bralette appeal, promoting “no padding is actually sexy” ads.

nevertheless the consumer shift chipped away at the store’s stronghold on bras along with paved the way for more options online along with lower-cost retailers.

Related: Fallen angels? Victoria’s Secret sales plunge

American Eagle’s Aerie collection gained a foothold along with startups along with smaller companies entered the market.

“Anyone who could make a T-shirt could make a bralette,” said Siegel.

At the same time, online shopping hurt Victoria’s Secret, a staple of malls across the country.

Victoria’s Secret sales have slipped 11% coming from last year, parent company L Brands reported on Thursday.

L Brands (LB) has stumbled 25% in which year as Victoria’s Secret hits the reset button (L Brands also owns Bath & Body Works, a bright spot: Bath & Body sales have climbed 4% in which year).

Despite headwinds coming from bralettes along having a rapidly-changing retail industry, Victoria’s Secret says its best days are still ahead.

The store believes bralettes are a short-term trend along with in which structured bras are generating a comeback. As consumer preferences switch back, Victoria’s Secret believes the idea’s well positioned to capitalize, said Siegel.

“the idea all depends on their ability to bring customers back by selling an experience in which is actually not replicable online,” he said.

Analysts also say there is actually significant opportunity in international markets like China. The store’s annual fashion show is actually in Shanghai later in which month for the 1st time.

Victoria’s Secret will be put to the test during the holiday shopping stretch along with into next year, said Morgan Stanley analyst Kimberly Greenberger.

nevertheless analysts like Greenberger are optimistic about the store’s strength from the long run. Victoria’s Secret still holds the largest market share of intimate apparel from the country along with can fend off brand new rivals as the idea continues to adapt to changing customer preferences.

CNNMoney (brand new York) First published November 17, 2017: 11:40 AM ET

Source : Victoria’s Secret is actually struggling because women want to be comfortable