Victoria Secret+ by Victoria Secret
By Rosie Kinsella and Emmanuella Ngimbi
Victoria Secret+
Analysis: Current state of play: Identity, Market location and Financial Status • In 2016, the lingerie market was valued at $28.57billion, estimated to reach $30.65billion by 2020. Lingerie Market Revenue
North America
Europe
$11.67billion
$7.93billion
Of sales
South America & Rest of World
13.3% of lingerie revenue
• Founded in 1963, L Brands is now worth $22billion • Operates 3,077 company owned specialty stores in the USA, Canada, UK and China • They own a range of flagship brands such as Victoria Secret Lingerie, Bath & Body Works and PINK • Victoria Secret makes up for 41% of its nations market, and 14% of the lingerie market
• Jan Singer - CEO of victoria secret • Greg Unis - chief executive of VSbeauty • Les Wexner - CEO OF L BRANDS • Susie coulter - President at Victoria Secret
• Bill May - Chief Operating Officer • Olga Fields - General Manager • Abigail Barkauskas - general manager
Stakeholders
• Samira Naber - general manager • Melinda Hannah - general manager • Estelle Kleinberg - general manager • Karin Herbet - general managers
• Toni Brookshire - General manager • Christine Funches - general manager
Market Niche Victoria Secret have successfully created 3 different units that can cater to a diverse audience, such as their PINK collection which target young females from ages 14-18. Then we have Victoria Secret Lingerie which is targeted at ages 18-34. Victoria Secret Lingerie offers its products to mainly middle class women, or men shopping for them. Their market evolves as much as the sector does due to peoples disposable income increasing.
Victoria Secret Brand Slander Timeline
• 2009 – Victoria Secret were sued several time due to their underwear containing an organic compound in the cotton, that caused severe skin rashes on women. • 2012 – Investigated for child labour • 2014 – Victoria Secrets ‘The Perfect Body’ campaign which caused controversy. A petition against the lingerie collection took place and a demand for an apology, for the unhealthy and damaging message that the campaign sent out to women of all ages. It got over 30,000 signatures. There was never a formal apology.
SWOT of Victoria Secret STRENGTHS • Strong and well known presence within the lingerie market with over 1000 company stores across the globe • Strong promotion/advertising strategies • Loyal and well known models (Angels) • Firm financial security and continued growth • Exclusive factors that work in favour of financial growth: VS Show • Large social network following/interaction • Extended communication; catalogue • Use of organic and fair trade materials for clothing lines • Brand value/Customer loyalty • Strong strategies to redirect traffic to their main website via their social media platforms.
Weaknesses • Lack of potential income due to neglecting possible consumers (our plus size audience) • Multichannel retailer – VS make no extra efforts to sell their clothing products in particular, in other stores – this doesn’t give the customer the choice of which channel they would prefer for their own shopping experience • Lack of consistency in regards to promotional – Their sale dates are not the same in store, catalogue or online. This makes customers feel ripped off. • Controversial issues damaging brand reputation, especially with no change in behavior or approach to their consumers • Fake/imitation of products • Bad criticism on sociocultural body image norms; Victoria Secret has sent a consistent message to young women which is that the models they choose are the standard of beauty
Opportunities • Plus-sizes; expand product lines of lingerie to neglected customers, as well as focus its marketing efforts to promote the plus size market • Victoria Secret+ would make its rival companies plus size ranges old news, as the shocking change the company will make would be unexpected due to the duration of being without plus sizes/no plans to embrace them for so long. • Apologizing to previous problems that have not yet been apologized for • Monitor where the majority of its consumers are exposed to its adverts/marketing strategies so they are able to determine the other area’s that may need some more work.
Threats • Competitors are all already a step ahead of the game with their plus sizes. Due to VS being a well-established brand with a heritage, the new brands who may not be around as long, will slowly but surely over take as they will be consistent in offering something Victoria Secret is not • Rivals creating a better digital platform may become a problem due to another lingerie company being more equipped with more realistic product images. • Due to the data they collect being shared among 3rd parties, there is a higher risk of it being leaked. • New controversy if Victoria Secret+ goes ahead due to some people viewing it as the brand promoting an unhealthy body image • If Victoria Secret+ was to ahead, which in UK sizing is the equivalent to a 40E. This may be seen as satisfactory by the company as they can actually say they offer bigger sizes.
Rival Companies Victoria Secret+ • An American based brand launched in 2006, targeting 15-25 year olds • Firmly believe in body positivity • Have an “Aerie Real” campaign that features models of all shapes, sizes and skin colors/tones. • Online bra size guide for women sizes 30A to 40DD • Does not digitally touch up models • Emma Roberts appointed face of the campaign • Sponsored by the national eating disorders association
• An American based plus sized clothing and lingerie outlet • Sizing from 34C to 50C • Famous for their ‘I’m No Angel’ campaign – an effort to slander Victoria Secret and their beauty standards. • The campaign also reached out to women through social media to get them to share their sexy, and spread body positivity.
• Sizes range from 36DD to 44HH in bra’s and size in underwear (UK), and American sizes are 36DD to 44L in bras and size 26 in underwear • Known as “Asos Curve”; they have their own section and collections for plus sized women • Most recognized for their raw and true images of models in underwear • Affordable prices • Available online with multiple delivery options for customers, and options for free returns
Victoria Secret Sizing • Bestsellers (Bra’s): 32A to 40E • Victoria Secret Underwear: Knickers, Thongs and Briefs only go up to a XL (16) • Victoria Secret baby dolls, slips and nightwear: Size 16 (XL)
Victoria Secret+ • Plus size range consisting of products remade from Victoria Secrets “Very Sexy” best sellers range
• Sizes will consist of 34C to 40G • Products available will be bras, bralettes, and underwear • Pricing will be usual, $11-$56.
• New and improved material • Launch commences February 2018
Location
• The products are due to be launched in Victoria Secrets largest store In Manhattan, NYC. The campaign itself will get international coverage, as even though the products won’t be available in certain countries straight away, news and updates on the campaign will. • Choosing the first location to be at its largest store In Manhattan would allow for not only the purchases from locals, but from tourist’s. With such a large population so exposed to something so ground breaking, sales would generate.
Strengths and Advantages of Victoria Secret+
• With Victoria Secret having such a prestige status, they are a company that can use their voice to change things for the better. If Victoria Secret, due to who they are, were to introduce plus sizing to their company which included the use of plus size models hired by VS, body positivity campaigns and the overall outlook for accepting every type of woman, Victoria Secret would make a major breakthrough the eyes of all the controversy they have caused over the years. • Another advantage of this new line would be a positive message to young women. Companies with as much power as theses should be putting to rest the idea that you can’t purchase an item of clothing because you’re not visually worthy. • If it’s a trend, it will sell. If it’s available to more hands, it will sell. There is an opportunity for an increase in financial income for the company. • It will create history for the brand and obtain more positive media
Tess Halliday
Philemena Kwao
Ashley Graham
Victoria Secret+ Brand Ambassadors
The Publics
• Our Plus Size target market • Women of ages 18-35 • Gain attention from new bra sizing guide for larger busted women • New materials used in products to increase comfort
Media – Analysis
Most used social media: Instagram – Being of young ages, customers of the Victoria Secret target audience use Instagram and are found following other fashion houses, Alist celebrities that are associated with the brand, models, high end make up companies. The users also enjoy reflecting their own personal content in a style the bloggers they follow do. Key information they want to know – The biggest size Victoria Plus+ go up too, what bestsellers they are available in, the price and who has been seen modelling it. Shopping habits – Mainly instore due to the experience, online, frequently during promotional seasons/current coupon offers. Customers also appreciate little things such as the bag you receive after buying a product and the added touch of boxing up your item for the added luxurious feel. This generates repeat purchase.
Consumer Profile
• Ages 18-35 • High disposable income – whether income is personal or distributed (from parents etc) • International customers/brand attention • Beauty, Fashion and Celebrity Affiliation • High fashion consumers • Image conscious/enjoyment in image improvement
Primary Media List - Print
Secondary Media List (Digital) Time Square NYC
Budget and Estimates $2,000,000 budget for the entire campaign $500,000 for adverting across digital and print platforms, including the $11,482.38 cost to advertise on TV. TODO Productions are an events agency that specialize in fashion shows They previously worked with Victoria’s Secret Fashion Show from 2011 to 2013. We estimated the cost would be a maximum amount of $6,000 to hire. TODO Production will provide the setup, tools and equipment for the show.
Julie Valler are a staffing agency that will provide, bartenders, waiting staff and security. We estimate the maximum amount to be $3,000.
Tactics
• Use of an advert – Victoria Secret+ will create an advert with a duration of 1 minute, to advertise the plus size bestsellers on our 3 new brand ambassadors. However, throughout the stages of the campaign, this will be teased in snippets on their social media platforms to acquire more interest and curiosity. • Press Release – To allow for things to run smoothly, releasing our press release before the releasing of articles in our magazines and full advert wouldn’t work, which is why we’ve decided to release It on the 1st of february, just after our chosen publications release their stories which can then be backed up by our press releases. • Media Launch Event – Our event will commence on the 6th of February: Victoria Secret+ Fashion Show. Mimicing Victoria Secrets annual fashion show, we decided to host a fashion show that wasn’t exclusive and open to the public. It will be hosted at The Plaza Hotel, New York City, in the Grand Ball Room. Able to seat up to 500+, we will allow for 300 tickets to be available on sale. Each ticket will cost $20, and all proceeds will go to charities that fund factory workers. The ticket will get you a seat at the fashion show. VIP tickets will be accessible, which will start at $50 for front row.
Victoria Secret+ Fashion Show; The Plaza Hotel
The Grand Ball Room
Victoria Secret+ Fashion Show 2018
Media Launch • A Victoria Secret+ fashion show that mimics the companies annual fashion show, however this one will be open to the public
• Tickets will be priced at $30, and will get you a seat at the fashion show which will be hosting 300 people • The show will consist of plus size models modelling the new plus size collection, a day before it launches in stores • Exclusive shopping hour to purchase any of the items, with assistance from bra measuring experts • In attendance will be our 3 brand ambassadors, as well as 3 of the other exclusive angels – you wont find out who until arrival!!! • Live DJ
• Licensed Bar
Crisis Management • Weather – Unpredictable weather could become a possible issue for our event, especially the VIP Launch Party as the red-carpet event will be held outside. We will be able to overcome this issue by checking the weather and ensuring that we have a backup plan just in case. • Demands - A publication may demand to receive an exclusive set of the lingerie to review before its official release date. This demand will not be held up as there will be a Victoria secret fashion show and a VIP launch party where bloggers, celebrities and magazines will see the collection for the first time. • Competition – There is a chance that one of Victoria’s Secret’s competitors may hear about the collection and launch a similar campaign. However, Victoria secret is the largest retailer of lingerie and is currently worth over $22 billion therefore the competition doesn’t really have a chance to overshadow the campaign. • Celebrity Endorsement – Since Ashley Graham is already a brand ambassador for the rival company Lane Bryant, she may refuse to work with Victoria Secret. This issue could be overcome because Ashley has previously said that if Victoria secret called she would say yes. • Difficult Guests – The meet and greet, Secret fashion show and VIP launch party will likely bring difficult guests, whether its excited customers, one of the celebrity’ entourage or the models. We will overcome this problem by always having security in all areas to avoid any disturbances. • Timing – A possible issue could be that the lingerie for the collection may not be ready on time however this is unlikely as the campaign will run for 6 months and the lingerie will be the bestsellers rather than a new collection.
Timescales
October
November
December
January
February
• Be active in logo design processes • Begin meetings with designers
• Book location for launch of Victoria Secret+ • Begin drafting invites for guests
• Allowance for Christmas and VS’s busy time promotion – granted due to a quarter of the jobs being done
• Promotion for VS+ begins. First platform is the advert on TV, 10 seconds only.
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• Established new • Confirm and set and improved up collaboration materials to apply with activists to new products against lack size • Confirmation of diversity to allow Brand Ambassadors for sponsoring of • Met and confirmed the campaign storyline/purpose
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Invites for launch sent Second half of Jan: allow for longer view of advert. Applied to times square and Instagram Promotion for the Victoria Secret+ Fashion Show Launch active
• 1st of February, all brand ambassadors officially share news on THEIR platforms • 3rd February – press launch event for our exclusive guests/bloggers/pre ss
• Our advert with • Meet and directors and establish contract management of our with Editors and brand ambassadors journalists for – contract signed. coverage of the campaign
• Assigned social media content creators, along with PR management team with specific timed releases
Casting day for models to feature in launch event completed Last week commencing: Adverts in full release
• 6th of February – official launch event: VS+ Fashion Catwalk show
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Begin recording solo interview snippets with our Brand ambassadors about Victoria Secret+ Last week of December, allow for importation of Victoria Secret+ products Pitches to editors and journalists sent to allow for notice for next issue
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All promotion for Victoria Secret+ in full swing, Victoria Secret+ products available from 7th February Press Releases Launched
Strategy (following from our Tactics)
• The whole point of Victoria Secret+ is to unite lingerie lovers together, of all shapes and sizes. We wouldn’t apply our marketing strategies any differently than Victoria Secret do already, as we want to reflect everyone being treated as the same. It will be just as sexy and glamourous as everyone who is a size 8, can be sexy and glamorous. • Social Media Strategy – The use of our advert would be applied to not only TV and our chosen New York Billboard, but Youtube too. Victoria Secret+ will be advertised before a viewer gets to watch it’s desired content which is related to anything beauty or fashion.
Resources
1 Social media managers and content creators
2 Management of Victoria Secret+ campaign
3 Photographers
4 Video directors
5 Designers
6 Event production agencies & staff
7 Casting directors
1. We aim to improve the opinions of our consumers and overall outlook on Victoria Secret by introducing and embracing our plus size market, with hopes they will recognize our new outlook on body image and body positivity.
Reputation Objectives
2. We aim to put to rest controversial issues regarding lack of diversity within size, and apologize for neglecting our plus size market’s needs and expectations. 3. We aim to change our company aims and overview; “Victoria Secret is inspired by a love for lingerie, and the desire to bring beauty – and fantasy- into every woman’s wardrobe. We believe the little luxuries are of grand importance, and what’s closest to your body is always closest to our heart” to ALL customers
1. We aim to improve the relationship with not only our current customers, but our new and potentials. We want Victoria Secret to be a brand you can rely on for loyalty, empowerment and feel good factors.
Relationship Management Objectives
2. We aim to create and maintain healthy business relationships with our partners. We hope to do this by being as open as possible with the location of our material suppliers, our relationships with our workers and other sources in order to ensure safe and correct business relationships. 3. We aim to fix our impression from our consumers from diverse cultures in response to our outlook on native and cultural costume that has been reflected in the designs of our products. We want to apologize for any offense this caused anyone and make it clear it was not our intention to bring harm or upset. As well as this apology, we want to make it an effort to apologize for a number of different controversial incidents.
Campaign Objectives
1. Become a refreshed brand in the eyes of current and potential consumers. We want to allow for this campaign to show our customers that we want to cater to every type of woman. The duration of the response to the initial projection of us creating Victoria Secret+ will be quick as it’s something that is wanted from our customers, and it will show we are listening. 2. To educate and promote body positivity and self-confidence no matter what size, shape, sex or color you are. 3. To increase awareness of the company’s new outlook on body image and overall Victoria Secret+ campaign messages. We will do this by aiming to gain at least 10 pages of editorial on their new line, supported with images in 5 key magazines such as Teen Vogue, ELLE, Cosmopolitan, Instyle, and Glamour. These publications fit the campaigns target audience, so benefits will reciprocate.
• Consumers are going to want good quality materials and fashionable visuals. It’s not rocket science to understand that as we are now producing products for a larger sized woman, comfort in materials to support the features of a woman is extremely important.
What do they want from VS+?
• Consumers are going to want to see and feel the change, which will then allow for confident satisfaction when it comes to a purchase • In business terms, we want to give them an emotional response, however for VS it will be a successful new business venture and will be achieved by showing understanding and change of company outlook/behaviour
Key Business Messages • We believe Victoria Secret+ will allow for Victoria Secret to gain better publicity, and give it a chance to fix all controversial issues the brand has caused by only catering to certain, smaller sizes. In relation to this, the campaign also educates and alters the standards of beauty and allows for a more body positive outlook. • Victoria Secret+ is unique to Victoria Secret because it’s the first plus size product line to be made based on the bestsellers, with new and improved material. • We feel Victoria Secret+ will be an interesting new business venture, due to expanding the level of satisfaction to our consumers by being able to not only reach a larger audience, but impress the already existing audience that are not of the larger sizes. It’s a revolutionary time for women of all ages within our age demographic to allow Victoria Secret be a company that is now able to empower everyone.
Evaluation: Victoria Secret+