Victoria’s Secret Six Month Buying Plan
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TABLE OF CONTENTS Objective: Page 2 History: Page 4 Mission Statement: Page 6 Company Profile: Page 8 Size and Scope: Page 10 Business Stratigies: Page 12-16 Target Market: Page 18 Customer Profiles: Page 19-22 SWOT Analysis: Page 24 Merchandise Venues: Page 26-28 Competitors: Page 30-42 Fashion Trends: Page 44-46 Lifestyle trends: Page 48-50 6 month Buying plan: Page 52 Assortment Plan: Page 54 6 month Buying plan: New York: Page 56 6 month Buying Plan: Atlanta, Georgia: Page 58 Statement of Opportunities: Page 60
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Victoria’s Secret
The objective of this project is to create a six month buying plan for the Victoria’s Secret VSX sportwear line.
History
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Originally a store that targeted men, Roy Raymond established Victoria’s Secret in 1977. In 1982 Leslie Wexner (The creator of Limited Brands Inc) bought the Victoria’s Secret brand from Raymond for one million dollars. In 1983, Wexner revamped Victoria’s Secret. Today, Victoria’s Secret lingerie is the top performer for the congolomerate.
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Mission Statement
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Bringing together women of different generations who appreciate the romance and fantsay of intimate apparel.
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Company Profile
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Sensual Feminine Sexy Luxurious Romantic Fantasy
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Scope & Size
10 1,098 Stores in the United States
42 Stores in Canada
10 Stores in the United Kingdom
Flagship store in New York City
Flagship store in London as of 2012
*Victoria’s Secret has total of 6,680,000 square space in the United States
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Business Stratigies
12 Captivating Female customers Much of Victoria’s Secret success has to do with their marketing strategy. The VS brand carefully selects models that they believe female customers will relate to.
Attention to international customers
Overseas growth remains a huge growth opportunity for Victoria’s Secret. VS entered mainland China this year which could lead to expansion. In recent years, VS has incorporated more Asian models into their fashion shows & catalog.
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Uniting stores with online Victoria’s Secret uses online data to make smart merchandising decisions in their store. For example, bras that are promoted in stores are also displayed on the website.
Fashion Show Victoria’s Secret uses their Fashion Show to promote and market its goods in high-profile settings. The show features some of the worlds leading fashion models who also help publicize the event.
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Semi Annual Sale Twice a year, Victoria’s Secret host a semi annual sale, one in the summer, the other during the Christmas season.
Catalog Before E-commerce, the Victoria’s Secret Catalog provided an exciting experience to a consumers home. The Victoria’s Secret Catalog offers a more diverse range of merchandise.
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Social Media
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https://www.pinterest.com/victoriassecret/
https://www.facebook.com/victoriassecret
@victoriassecret
@victoriassecret
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Target Market
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Women ages 16-50 who identify with the fantasy of the Victoria’s Secret brand & Men of all ages who shop for gifts for their wives or girlfriends during the holiday season.
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Customer Profile Name: Bridgett Age: 17 Occupation: Part time job at Chick fil A Income: Minimum Wage Location: Austin, TX Lifesyle: Lives an active lifestyle. She is a varsity cheerleader for her high school. After graduation she plans on attending UGA on a cheerleading scholarship. Shops the Victoria’s Secret PINK line.
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Customer Profile
Name: Monica Age: 25 Occupation: Journalist Income: $35,000 Location: Atlanta, GA Lifesyle: Lives an active, healthy, vegan lifestyle. She is also eco friendly and cares about the envroniment. She graduated from NYU with honors. She enjoys going out with her friends on the weekends. Shops the Victoria’s Secret sport and beauty line.
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Customer Profile
Name: Andrea Age: 39 Occupation: Accountant Income: $55,000 Location: San Francisco, CA Lifesyle: Lives a busy lifestyle. She is always on the go between her job and her children. She likes to go on vacations with her children, and going wine tasting with her husband on the weekends. She shops the Victoria’s Secret lingerie line.
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Customer Profile
Name: Johnathan Age: 45 Occupation: Real Estate Agent Income: $70,000 Location: Chicago, IL Lifesyle: Travels often due to his occupation. He’s married, and loves to spoil his wife with gifts. When he is home, he likes to spend time with his friends at the country club and play a round of golf. One of his favorite hobbies is fishing on his yacht.
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SWot Analysis
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Strengths
Weaknesses
-Holiday Oriented
-Doesn’t cater to plus-size women
-Social Media Access
-Multi channel (some clothing that is sold online isn’t sold in stores)
-Strong E-commerce System -Values Excellence in Customer Service -New Product Introductions -Brand Marketing
-Promotional Consistency -US and Canada locations only -Quality doesn’t match the price
Opportunities
Threats
-Plus Sized Market
-Higher Prices
-Customized Email Offerings
-Foreign Competitors
-International Expansion
-Premium Pricing (fluctuation of the economy)
-Differentiate between VS & PINK
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Merchandise Venues
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Victoria’s Secret Store & Website Victoria’s Secret is the largest American retailer of lingerie. There are about 1,098 stores in North America. Most of thier purchases come from brick and mortar stores.
In 1995, Victoria’s Secret began building its e-commerce website, which the company launched after three years of development. At 6 p.m. December 4, 1998, using the domain VictoriasSecret. com. The second largest amount of purchases comes from e-commerce.
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Catalouge
Prior to the emergence of e-commerce, the Victoria’s Secret catalogs provided both an informative and exciting experience in the comfort of the consumer’s home. The Victoria’s Secret catalog offers a more diverse range of merchandise.
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Victoria’s Secret Apps On the Victoria’s Secret App, you can shop from your phone, scan pages of Victoria’s Secret catalogs, get insider access on the latest trends, find the nearest VS store near you, and connect with friends.
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Competitors
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Athleta’s Mission is to: Gap Inc. is a leading global retailer offering clothing, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,300 company-operated stores, almost 400 franchise stores, and e-commerce sites.
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Luluemon’s Mission is to: Creating componets for people to live longer, healthier, fun lives.
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Nike’s Mission is to: Bring inspiration and innovation to every athlete in the world. “If you have a body, you’re an athlete”
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Adidas mission is to: The brands of the Adidas Group complement each other in a unique way to help athletes perform better, play better, feel better. Their products break records, set trends, make history every day all over the world. Welcome to the Adidas Group.
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Under Armours mission is to: To make all athletes better through passion, design and the relentless pursuit of innovation.
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Gaps mission is to: Gap Inc. is a leading global retailer offering clothing, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,300 company-operated stores, almost 400 franchise stores, and e-commerce sites.
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Fashion Trends
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The Performance Legging Silhoutte: The legging evolves, engineered as one piece with a short for winter training, and elongated over the foot for yoga. Ankle lengths continue to be key as the legging becomes the new jean. Print & Pattern: Multi-dimensional performance lace ventilates, seamless jacquards are bold and graphic, while all-over print is hyper-real and weightless. Materials & Details: Seamless knits, softest ribs, merino, polyester elastane for sublimation prints, cotton and polyester marl blends.
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Performance Bra Silhouette: The bra is all-important, seen in a variety of new silhouettes. Construction takes its cue from lingerie, with engineered support, moulded cups and cleavage reveal in the deep-plunge bra. The athletic halter is high-impact but with a sexier fit, while new configurations create transitional pieces that work outside the gym. Print & Pattern: Jacquard pattern and branding are seen in tonal and contrast variations. Performance lace ventilates in refined, lightweight patterns and laser-cut constructions. Details & Material: Zip fastenings, multi-linear strapping, keyhole bust ventilation, power elastic banding, soft ruffle trim, breathable padding, cotton-handle blends, performance lace.
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Lux Track Suit Silhouette : A transitional piece, the tracksuit is reinterpreted with a sexier cut and cropped proportions, while the boxier cut jacket is offset with a tapered pant. Print & Pattern: To elevate the silhouette, look to luxury material finishes and handle as well as all-over print and valuable trims. Details & Material: Shorter through the body, the proportions of the jacket are kept neat and slightly cropped with the hem finishing just on the waist, while the pant matches with controlled volume through the hip tapering through the leg to an open hem with optional zip-opening.
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Lifestyle Trends
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Wellthness -The health and wellness market is booming, steadily growing into a $3.4 trillion industry, surpassing the pharmaceutical industry for the first time -Benefiting the waistline and the bottom line, ‘sweatworking’ (inviting clients or business associates to a fitness class) is the new power lunch -The most dominate wellness status symbol is ‘clean eating’ with pure food restaurants and ‘eat clean’ apps appealing to the wellthness lifestyle
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Technology and Innovations -FIR (far infrared reflecting) fabrics, which claim to improve circulation and aid faster recovery and healing, have been a hotly debated topic in sports textiles over recent seasons with its effectiveness and value in performance sports questioned. -Functioning fabrics, as opposed to smart fabrics, were key at Performance Days for autumn winter 2015/16. Functioning fabrics interact with the body and a new generation of heat generating textiles is at the forefront of this area. -Reflective has evolved for autumn/winter 2015/16, becoming more subtle with reflective accents and flashes rather than all-over solid colour. This taps into the overarching trend for transitional apparel that can be worn around the clock and for a variety of activities.
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Workout Trends -Precision Running: The treadmill is making a comeback with running workouts set to increase in popularity in 2015. Hitting the sweet spot between fun, fitness and tech, group running classes combine the excitement of spin with the competitiveness of racing. -Immersive Fitness: Immersive fitness is changing the way we work out. Using the latest projection and LED technology, 360-degree augmented reality classes transport gymgoers and add a new sense of purpose. -Shake it like a Celeb: In 2015 dance workouts are all ‘celebrity and sass’. High-cardio workouts see participants ‘shaking it’ like their favourite stars and recreating their dance routines in club-like studios complete with hip-hop soundtracks, spotlights, smoke and wind machines.
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6 Month Buying Plan
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Assortment Plan
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New York Flagship
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Atlanta, Georgia
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Statement of Opportunities
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Victoria’s Secret could extend their VSX brand even further by adding additional activewear options and by adding a wider variety of sizes.
Tranise Sharpe
Sami Bailey
Cherish Riley