Leading lingerie and intimate wear brand, Victoria’s Secret & Co., has shared about the brand’s strategic shift towards the Gen Z buyers, according to reports.
The company will be working to differentiate its two brands, which merged in 2022, and give more space and attention to Pink and cater to the younger audience to drive higher growth for the brand.
CEO Hillary Super said that ‘Victoria’s Secret and Pink’ will be creating cultural moments with their products and marketing campaigns. She has emphasised redefining the company’s brand image and capturing the attention of younger consumers.
The report also revealed that Super intends to launch its VSX collections again with youth icons like Sabrina Carpenter.
She noted a growing demand for glamour, bold styles, and over-the-top fashion, which aligns with the company’s core strengths. The brand also intends to further appeal to Gen Z with the company’s renewed focus on the Pink brand.
The company’s recent financial performance has been positive, with net sales increasing by 6.5 per cent year-over-year to US $ 1.3 billion in the third quarter of 2023 marking the strongest quarterly sales growth in three years. However, net loss widened by over 22 per cent to US $ 54.8 million.
Based on the ongoing performance of the firm, it raised its forecast for the year, saying it now expects sales to rise 1 per cent to 2 per cent. The prior expectation was for a 1 per cent decline.
