After a notable downturn in sales, the iconic lingerie retailer Victoria's Secret has decided to revert to its original, provocative branding. The move comes after an attempt to adopt a more inclusive, "woke" image didn't resonate with their customer base as expected.
Over the past year, Victoria's Secret & Co. has seen a consistent decline in sales across multiple quarters. Reports from Retail Dive and Business Insider indicate a 6.2% decrease in net sales year over year for Q2, with total comparable sales falling by 11%. This downward trend continued into Q3, with a further drop of 9%.
The company's shift towards a more "woke" brand identity was a strategic move to appeal to a broader audience and address contemporary social issues. However, the declining sales figures suggest that the rebranding may not have struck the right chord with their target market.
The New York Post and The Telegraph report that, amid this slump, Victoria's Secret has chosen to reinstate its classic "sexy" branding. The decision indicates a return to the company's roots, which made it a household name and a dominant player in the lingerie industry.
This turnaround could potentially reignite the spark in consumers who were drawn to the brand's original allure. It remains to be seen if this move will help Victoria's Secret to regain its footing and re-establish its position in an increasingly competitive market.