Victoria’s Secret has become a power house in the world of lingerie and intimate fashion. The brand has seamlessly built their reputation on creating the hottest pieces within this one compartment of the fashion world. However, VS wants more of the pie.
Business Insider reported earlier this week that the brand is aiming to adjust its business direction with the intentions of keeping up with the “fast-fashion” retailers like Zara. To achieve this, Victoria’s Secret told analysts “it is working on speeding up its design and restocking processes.”
CEO of VS shared the new direction of the brand with Business Insider.
“Basically almost all of our panties today are on some kind of speed program. And those speed programs allow us to read the business on a Monday and be back in stock in the stores within 15 to 25 days.”
In short, this will allow for VS to cut down on the planning process and get products manufactured that consumers really want in a quick and efficient manner by consistently stocking shelves with “of-the-moment products.”
Victoria’s Secret has been inspired to go this route due to the intense competition stirred up by various brands that have the “fast-fashion” process down to a fine science. Zara is top of the pyramid of fast-fashion success stories, and Victoria’s Secret has taken note. Who What Weardescribes the genius strategies of Zara in their report on the VS change up.
“There’s no denying Zara’s insane amount of success; the brand is one of the leading players in the fast-fashion industry. With its quick clothing turnover and reasonable price range, other brands are out to emulate its foolproof strategy.”
Other fast-fashion brands include H&M and Forever 21. With their low price tags and generous supply of trendy clothing, it’s no wonder Victoria’s Secret is seeking to emulate them. VS has even decided to ditch the makeup in hopes of focusing on fast turnover and lower production costs.
“Understanding this has really cleared up a lot of things for me, because I was interested in VS’s next move when they stopped selling makeup, a few months back. And now it all makes sense. Ditching the makeup to focus on the turnover of the product that they sell so well. This is all good news to me, because the worst thing is finding the bra you must have, and them not having it in your size, so I can’t wait.”
[Feature image via www.thecasecentre.org]