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The Rise And Fall Of Victoria’s Secret

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When Victoria's Secret entered the market in the 1980s, it revolutionized the retail of women's undergarments. Previously, women viewed their bras on a binary — strictly functional for day-to-day or fancy for special occasions. Victoria's Secret combined the structure and function of day-to-day bras with the fun prints and feel of fancier bras. But 30 years later, the brand is falling behind the times as consumer priorities shift and younger brands like Aerie and Rihanna's Savage x Fenty adapt. The lingerie brand, owned by L Brands, has reported negative same-store sales for the past three years now, as women steer clear of its bedazzled bras and underwear for comfortable pieces in cooler colors. That's as a new cohort of start-ups like Adore Me, Third Love, Lively, Cuup and Knix are resonating with younger consumers as they surge in popularity on social media channels like Instagram. Wall Street analysts and investors alike are unsure if L Brands will be successful in reinventing Victoria's Secret's increasingly obsolete bras business. Even a recent slew of heavy promotions doesn't appear to be moving products off of shelves, according to UBS analyst Jay Sole, who's been tracking promotional activity in stores and online. "The pivotal question on the stock is can L Brands rehabilitate the Victoria's Secret brand image," Sole said in a note to clients earlier this week, ahead of L Brand's monthly sales report. He said he noticed Victoria's Secret's January promotions "increased significantly" from a year ago. And that typically means a company didn't sell enough during the holiday season, thus needed to drop prices to try to lure shoppers in. Despite its struggles, though, Victoria's Secret is still a behemoth in its industry today. It's been estimated L Brands would account for roughly 63 percent of sales in the lingerie industry in the U.S. in 2018, according to a study put out by IBISWorld last October. The group defines the industry to include retailers that predominantly sell intimate apparel, including bras, panties and other lingerie items, for women. No other companies were on track to account for more than 5 percent of revenues, while American Eagle's Aerie brand had 3.5 percent and Chico's Soma brand had 3 percent, IBISWorld said at the time the report was released.» Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Google+: http://cnb.cx/PlusCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC #CNBC #VictoriasSecret How Victoria’s Secret Disrupted Lingerie - Then Fell Behind
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Text Comments (5687)
D N (14 hours ago)
We don't want tacky, unwearable lingerie. Also, the VS model like is very 2000s. Strong is the new skinny. Thick thighs and big butts are in. We do like those total knockout pants tho. Keep em coming!
Angel Wings (1 day ago)
I LOVE vs so sad these insecure women are bringing it down 😔 I do agree it’s too expensive and many people would rather buy cheaper stuff
Baby Glitter Bear (10 days ago)
Fire Ed. It’s that simple.
burymedeep 2093 (11 days ago)
Women are too heavy now and all the SJW stuff is also the reasons
Ravi Singh (12 days ago)
These days every American companies go to China and make cheap products and make huge profits and make American people fool so now it's not going happened if they have to stay in business maintain quality and made in USA with new ideas
Dhanar Putra (13 days ago)
I always think this VS brand owned by Victoria Beckham. But...I realized I was wrong the whole time.
first name (13 days ago)
Why is the narrator talking like she's in a rush?
Erin Benton (13 days ago)
The only thing that keeps VS alive is PINK.
Darnell Jones (13 days ago)
As the son of a skinny mother . I never minded standing outside of the store 😂🙃. But I have noticed they don’t get alotta customers anymore
No Effect (13 days ago)
Mass obesity has something to do with this
KolonaRulez (13 days ago)
If you buy all your bras and underwear from VS you're very rich, very stupid, or most likely both.
787brx8 (13 days ago)
It has it's problems but it's way better than Victor's Secret!
Abhishek Dev (13 days ago)
A girl has to stay fit to fit into Victoria's Secret. 😂😂 Maybe rise of Landwhales is the reason for it's low selling. 😂🤣
puneet gulati (13 days ago)
Women wore yoga pants to sometimes actual yoga classes......
Modern Tips (13 days ago)
Ethics? Then everyone should delete their Uber app.
Kalia Torres Rodriguez (13 days ago)
They just don't cater to real women sizes... Period! I struggle finding lingerie and undergarments all the time because I am breasted but medium built. Their DDD end up becoming D size because they insist on padding (as if we needed it) and continue to exclude women with natural breasts, natural shapes and all sorts of sizes. If you ask me, walking through one of their stores makes me feel like the teenager that desperately wants to fit in, so it goes over splurging in stores as an attempt to buy their self esteem and self worth in an absolutely empty, shallow, unrealistic barbie paradise. Update your look to fit a strong, sophisticated, smart and independent woman lower your ridiculous prices to match the market needs or at least stop your questionable work ethics. The world wants answers to the ailments of society. Those refusing to change will stay behind until they are forced to shut down. Face it VS, you are full of BS
Kent Chester Orillo (14 days ago)
I was in the middle of the video and then i thought..... WHY THE HECK! AM I WATCHING THIS!?
De Cnijf Kris (14 days ago)
I don't wear bras. Though big brands counting good price for underwear are plagued with the origin of manufacturing, child labor and underpaid workers. Most girl likes nice lingerie here and there a bit embroidered but are not prepared to spend all their money on it. I find the idea of T-shirt bras very good for sales litterally levelling out competition.How come brands like Schiesser can sell expensive simple underwear?
James Guy (14 days ago)
The rise of MGTOW and Red Pill awakening in men not to spend money on women. But to invest in themselves.
Beleaguered Beluga (14 days ago)
I know of some VS stores, but I've never walked into one. Then again, im a dude....
littlerascle59 (15 days ago)
Too expensive for the average consumer...
William Traylor (15 days ago)
Everyone is just tired of seeing the blatant and public sexual objectification of women for profit. Hopefully the music industry will suffer for similar tactics. Or, maybe people just don't watch as much TV as they did even 5 years ago.
Beleaguered Beluga (14 days ago)
Im not tired of that.
Van Thieu (16 days ago)
Back in the days, people tries to fit into clothes. Nowadays, clothes tries to fit onto people. What a turn of event!
ROGER GANA JAMES (18 days ago)
OMG...VS please read these comments! and save your investors money! your products are so overrated and cheap!
Heeran (20 days ago)
I used to buy from VS when I first entered the workforce and the, the pink line,came out and it looked and felt,like stuff from Wal-Mart but much more expensive. I stopped seeing the value and couldn't justify spending that much on such little,fabric.
MrChen 06 (21 days ago)
Transgender people are not WOMEN their gender is what they were born as you can not change that.
Antione Berry (22 days ago)
nowadays most american women are gold diggers who eat like pigs and drink like fish!
Antione Berry (22 days ago)
listen ladies plus-size means fat!
Clown Sonny (25 days ago)
This could just be my vision or something but I swear something, or someone fell from the bridge at 2:18 ish. I hope it wasn’t though.
Beleaguered Beluga (14 days ago)
I saw that too. Looks like its just some birds.
Mega Ayie (27 days ago)
If they stop hiring Kendall, Gigi and Bella for the VSFS, the show would be better. Bringing doesn't attract ratings. Sure they are beautiful but theyvcan't even walk for their life. They work hard but they only got there because of their beauty and last name.
Ty Love (29 days ago)
They started using IG models like Kendell and Gigi, they lost their originality. that's what happend
Baby Doll84 (1 month ago)
Ivy park and fenty didn’t even do well. I just think woman are tired of having to be uncomfortable to be cute! It also dosent help that most women have undergone breast augmentation and those over stuffed bras are no longer needed!
Nena Vlogs (1 month ago)
Amen they need me to model for them I’m a regular shaped 2019 WOMAN
Janik B (1 month ago)
Only good thing are the perfumes and accessories
JBTechCon (1 month ago)
VS has lost market share because they use to be the only player in town but now have lots of competition with great products. But leave it to the media to spin it all to say it's because customers want to see more trannies.
James D3 (1 month ago)
This is evidence that girl power is a myth. The secret was men paying for the purchases.
CW Brooks (1 month ago)
Just seems like a dated company stuck in the 1990s. Makes me think of models snorting cocaine on a yacht and dancing around for a bunch of fat, old guys like Leonardo DiCaprio.
M_ Mince08 (1 month ago)
I also think they are shortsighted in their approach to sizing. I went there and they sized me to my “sister size” I wore that size for years, and remember being so uncomfortable in it, and never felt like it fit right. I finally went to a local shop, and when I walked in, the lady immediately was like, oh, they sized you way wrong honey. They didn’t even get the “sister size” right, and it’s because they try to make you fit into their generic sizes. I can’t tell you the difference it’s made wearing bras that are the correct sizes.
kitty meow (1 month ago)
i honestly love victoria secret pink store c:
kitty meow (1 month ago)
i miss hello kitty/ sanrio that victoria secret use to sell
lyannastarkweather (1 month ago)
I thought I'd graduated to something special when I first bought Victoria's Secret bras at 17 and 18, but they were woefully disappointing considering their price and visibility. Their products are pretty, but their official method of measuring customers for bras is seriously inaccurate compared to other stores. At 23, I vastly prefer to go buy from Aerie or SavagexFenty for my more expensive bras and bralettes.
AbsoluteMdot (1 month ago)
Victoria secret bras give me rashes. I'm switching to aerie
Franky Flowers (1 month ago)
the stores get looted by black women and nobody wants to go
Xykloud DuPont (1 month ago)
oh she roasted Don Draper..died 10:43..
eventvisionsinc (1 month ago)
Victoria secret if you shop back in the late 1987 and throughout 2005 the quality in clothing,bra’s,underwear it was amazing, long wear, I still have some of the vintage pieces, even socks were made better. Now it’s a joke no quality present even the fragrance line, they stop making the original fragrances that gave Victoria Secret such success. Sadly they did this to themselves. 👼🏻
J (1 month ago)
the commentator speaks way too fast
Sniper Trading (1 month ago)
Fashion institute of Technology?..LOL
VZNYC (1 month ago)
also, if you are a girl who doesnt like or want to be gifted with things once in a while then there is something wrong with you...
Marvki Pi (1 month ago)
They need to start putting out some obese women. Maybe some fat unhealthy women are going to start watching. Gillette says it's ok.
Daniel Cuevas (1 month ago)
Any other guys having fun reading these comments 😅🤚🏽.
James Angel (1 month ago)
All there models are dudes !
Ghost Ghost (1 month ago)
The secret is ladyboy.
FeatheryBird (1 month ago)
The straps are usually to narrow, that's one of the biggest issues with all bras. Also, they put soft fabrics OUTSIDE who cares we want the softness inside.
MrJJK2013 (1 month ago)
*Women are identifying as a dog, as a refrigerator, and so it goes. You can't compete with a world of idiots*
MrJJK2013 (1 month ago)
*Victoria Secret is closing stores, it's over for them*
Newman Newmanz (1 month ago)
When you try to sale for everyone, you sell for nobody.
Prickly Pickle (1 month ago)
You can buy affordable cute lingerie almost anywhere now.
Ella Day (1 month ago)
the only thing i buy from victoria's secret is the body mists 😂
luan trieu (1 month ago)
People don't want to buy products showing underweight models
77Tadams (1 month ago)
I was a huge consumer of their brand....last 7 or so years....I have seen the product quality of the bras I loved go down....then again a VS bra would last me 3 years! Now I find that the quality is down and they last around a year. I didn't mind spending 80-150 on one bra...now I figure I can get target bras that last a year and for 25 bucks. Why spend on a VS bra, especially when I can get the same quality from a lower brand and get more of them??? VS is going out.
DAVE MISAL (1 month ago)
I knew if hung around long enough I'd get to the ridiculous SJW crap eventually.
med ray (1 month ago)
Most Millennial women are broke hos and deadbeats, and men don't want them.
Benny R (2 months ago)
Plus there are so many ways to watch entertainment. Through hulu, Netflix, YouTube etc . The audience is divided among these platforms that's a contributor
Laura Minnick (2 months ago)
I've always had that "perfect body" shape and honestly I don't like it. It seems while people promote other body types for not being "perfect" they've degraded people who do
mstrthief00 (2 months ago)
I'm Here For Science
fredrika27 (2 months ago)
Women who are plus sizes can't go in to VS and shop. They lost their lucrative 35 to 60+ age group who have more cash to spend when they refused to sell to us! They forgot that Generation X grew up on VS products and as such we won't be wearing Playtex or Maiden Form! Quality for value is another issue. I have VS panties from 2000 and 2018! Guess which undies are crap? The current product doesn't last beyond a year and cost upward of £18 (€20 or $27) a pair at Heathrow airport! Women can go to Boots, Real and Walmart and purchase a bag of 7 Hanes or Fruit of the Loom knickers in their size that fits for £12! VS didn't get the memo that their competition is selling better product for cheaper!
Liz like friz (2 months ago)
I love how these are run by men. Like wow. How is this the norm? Like what?
Karma (2 months ago)
Shop online at Felina instead! Super comfortable panties and variety of bras and lingierie :) affordable, great quality and they have good deals
Karma (2 months ago)
Hate the underwear, very poor quality ick.
kathy Mee (2 months ago)
I used to love and always wanted everything at VS when in high school, but it was around 2010 that I noticed the quality was really poor and that was a huge turnoff. A lot of other brands and department store items were better. They also kept having sales - not a good idea bec that hurts the perceived value. The brand confusion with PINK also started. At the same time, they started producing too many types of merchandise which diluted the brand. So I really never go there anymore.
Woo Cash (2 months ago)
the fall of the usa is near if they want to promote unatractiveness and unhealthy overweight models and transgender models. It shows the public has lost its normal values
Greg Carlson (2 months ago)
Like everything else on earth, it must definitely be men’s fault. So shame on VS for appealing to “the men of the Mad Men’s era”.
Christian Fischer (2 months ago)
Is everyone just going to ignore that we are currently living a second Guilded Age with an ever expanding chasm between the poor and the wealthy? Luxury goods are all on a downwards spiral because YOU DON'T HAVE ENOUGH MIDDLE CLASS PEOPLE TO BUY THESE THINGS!
hep the great (2 months ago)
I buy bras in bulk. It's probably more financial than anything else. I can't afford 1 bra for more than 20 dollars, and as I'm a dd they don't have that. I just buy big sports bras in bulk off amazon for 5 dollars a pop. If I have a fancy date or something I'll break out the fancy bra, otherwise it's black sports bra and black panties (which I also buy bulk)
Fluffymiyster (2 months ago)
I'm a bit of a prude so I've never been big on Vicky's Secret, lol. But I see they likely wouldn't cater to my size anyways...or my wallet. The one thing I'm still trying to wrap my mind around with lingerie is that underwear can cost me more than my outer clothes. A single bra at $50 is two pairs of jeans for me.
Sublime Music Channel (2 months ago)
I'm not against prostitute culture, as it is clearly what Victoria's Secret appears to have based its business model on--as well as the reason the CEO came out to say transgenders are certainly welcome--only to me its extremely revealing (pun intended) how he never bothers to mention fat babes, who probably don't fit (yet another pun intended) the model he imagines can be sold for the highest dollar amount to the average American male prepared to pay Vic/Secret prices for what amounts to little more than a pair of drawers. I mean, Thailand, Indonesia, and the Philippines don't appear to be struggling selling their slender "boy-girls" to visiting (white) American guys, while marketing the "heavy-set" continues NOT to be something they probably think pays the rent for them as a nation. Alas, if only women could be convinced to begin caring about themselves and start REFUSING to think themselves as asses-for-rent. The two aren't the same, imo.
stephanie rando (2 months ago)
It doesn't help that the models have become skinnier and skinnier. Tyra Banks looked hot on the runway and she filled the bras and panties. The newer models looks like bone bags and can't fill out the lingerie.
nlh719 (2 months ago)
Buying pre-designed undergarments confuses me. Especially since I have never seen a woman with identical sized breasts. The right boob is usually bigger.
Men Growing TO Win (2 months ago)
Doesn't matter what women wear any more. Men are walking away. Bye.
Estelle M (2 months ago)
VS is most popular with suburban or high school girls. I use to steal so much underwear, swimwear etc from their stores because I couldn’t afford anything😅😂 Glad those days are over and now choose to support ethical, progressive companies with my coin$
x0xtran9x0x (2 months ago)
Quality is trash..yet they act so exclusive
kenzie ranae (2 months ago)
L Brands also owns Bath and Body Works
Bridget Washington (2 months ago)
Victoria Secret focuses on the youngster consumers, ages teens through 25. Your business was booming when you targeted 25 and older. These are the career women. Especially, when you sold clothing for all occasions. I think too much money was being invested in the shows and not enough in the actual product. You have pricey tags, but the price doesn't match up with the quality of your brand. This was the time when I really loved your product.
Samuel Cortez (2 months ago)
Thier prices are ridiculous and are made cheap. I only send her when they have good sales.
KM (2 months ago)
Aerie is a million times better— better quality and really cheap with sales. Plus I can actually find my size in stores lol
Yara Vidal (2 months ago)
they polute terribly! We want them to help the environment. The new conscious consumer wants green products, with no monsanto cotton. . All my family and I bought thousands of cloths since de 80´s but we stopped 10 years ago when we noticed the mass production probably wasnt ethic and we were right. Greenpeace and other ONGS gave the facts. Fast fashion: bad quality, no ethics and body shaming.
DC R (2 months ago)
Mint & Tea (2 months ago)
To sum this up - the quality is complete garbage. Go to a boutique and get you a REAL bra.
Regina George (2 months ago)
the designs are tacky
No More (2 months ago)
Never apologize to leftists! That's a path that leads to destruction.
Phyonnai Grave (2 months ago)
1. Everything is overpriced 2. Cheap brands online and department stores are doing the same thing but better for cheaper 3. Child labor 4. Not inclusive of bodies and gender
WanderLust Endumado (2 months ago)
I feel like 2001 called and they want their bras back....
刘人宇 (2 months ago)
Truth be told, man like slim women for a reason. You can't change the preference of DNA of male, can you?
Sylph S (2 months ago)
Their "show" is so boring!!! Was there ever a moment in which watching women walking and blowing cheese kisses qualified as a show????
Yamin (2 months ago)
Terrie Belle (2 months ago)
If I’m going to splurge on lingerie, it’s going to be on fenty. 💅🏻
Aliens and pyramids and shit (2 months ago)
The quality went down, the undies fall apart or ride up your butt. Not comfortable for everyday wear not for that price.. the bras are ok not the cheap polyester ones though. As i got older i hated having sweaters with pink on them i gave them all to my teenage niece.
Josephine Oaks-Courtney (2 months ago)
They still think they're in the '80s & '90s when women were still buying into the lie that they could look like skinny, airbrushed supermodels. (Even VS models don't look like VS models. Read up on what they have to do to get on shape for the show. It's brutal.) Today's message is more about loving your body and being healthy rather than striving for some impossible goal. Their marketing and products need to reflect that and fast. Which I believe they can do while maintaining their VS allure. If not, they're going to find themselves going the way of Contempo Casuals & Chess King!
Shanty Town (2 months ago)
a friend and i stopped by one for his gf during a sale and it was packed af, we headed for the door cause she was taking forever, no place to sit, and i think we were the only 4 balls in the building. Was like black friday walmart packed, kind of pack.
Notrend Beauty (2 months ago)
One price two most Victoria Secret fans were Men but since you can easily see nearly every womans secret now any way you turn whats the point paying all that money for the show three price