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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
Category: News & Politics
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Text Comments (6339)
tentacletomato (7 hours ago)
It's fun to go in the shop, but I never buy anything. The designs aren't sexually appealing to me? Especially at that price
Diana21692 (12 hours ago)
I think one of the problems is they advertise with models with small sized bras. It creates a perception only certain women can find something they can wear there
Lonnie Out Loud /LJ (15 hours ago)
Sandy Wichmann (22 hours ago)
Slave and child labor- that’s absolutely a red flag! We need products we can wear with pride and not feel guilty about buying them in the first place..
THE LIFE OF H (1 day ago)
Its the quality that turned me down. It's been 3 years since I purchased something there.
Krystal S (1 day ago)
So many negative comments but I for one actually love VS bras. I have bras from Walmart, Target, etc and they are so uncomfortable! At least I know my VS bras will actually be comfortable. Yes a bit pricy but I would rather buy a comfortable $30 bra then an uncomfortable $15 bra from Target.
Renee Liu (1 day ago)
I spent that VS bra money on a Ross bra and 10 cans of cat food for my kitty!
Ryan Osbourne (1 day ago)
Women were concerned with their sexual revolution, while it took a man to revolutionize women's underwear. Oh the irony!!
K Lu (1 day ago)
I never got the appeal of Victoria's Secret. I always thought the stores were pretty garish.
Sara (2 days ago)
Watching this feels empowering. VS still promotes an unhealthy and unrealistic body standard and seeing them fail because of it is v amusing.
Claira (2 days ago)
I’m shook I went shopping at pink today and I fit into a large panty size comfortably but there biggest size for the bras was a 36. Let me repeat that a 36 !!!!! Girl.... i know VS has bigger sizes but I was real disappointed with pink. I’m over here trying to spend my money at a place that doesn’t believe my size should shop at there store.
PancakesAnd Wine (2 days ago)
Maybe nobody wants to see starving stick figures doing a praying mantis walk in their undies.
MyssPersnickety1 (2 days ago)
I absolutely love VS and PINK! 💞 I still shop there but what turned me off was the over the top combination of colors, patterns, and prints. Just keep the colors simple and lay off on the heavy padding lol.
burgandi watson (2 days ago)
I buy my bras from Victorias Secret. Their fragrances are great as well but the sweatpants and everything are way overpriced...
Sarah Yost (3 days ago)
I’m currently in nursing bras 💁🏻‍♀️. $5 from amazon can’t beat them. Supportive too. And they’re comfy af. I can’t fathom spending more than $40 on one bra.
Anastassiya Li (3 days ago)
why didn’t they mention adding skinny plastic Hadids and KenDull to replace beautiful girls with curves?
Shinigami Kitsune (3 days ago)
I personally think, if they did include more variety in advertising with body types, their sales might improve. But "diversity" has a line that must be drawn at promoting overweight/obese body types, which is just as dangerous as promoting unrealistically thin body types. There is a natural, healthy slender as there is a borderline anorexic stick-thin as there is a full-figured/plus sized, healthy person to an obese/overweight individual who is susceptible to many health problems. In the end, *inclusion and balance go hand-in-hand.*
Deh Skitz (3 days ago)
I'm a guy so I buy boxers from walmart
adjwindu70 (3 days ago)
I didnt know pink was owned by VS. They should do what Hudson did and rebrand as Target
samleman Molina (3 days ago)
How about not wearing bras or anything? I only own two bras , both gifted from my cuz who felt bad I didn't own a bra at all. I only wear em if I go out and it's sunny, can't wear a jacket or if I'm going to pass the footy with my partner. Haven't bought clothes in a year going on two.
MsSunhappy (3 days ago)
7:38 'sometimes actual yoga classes' Such shade 😂
Iva Mickey (3 days ago)
Plus size taking over nd they don’t have nothing plus that or pink
KallMe Kiki (4 days ago)
i hope they NEVER go out of business 🤗💕 Favorite Store 🙌 👙
Dahri (4 days ago)
I want a Victoria's Secret runway with real women wearing their undergarments. Kendall and Gigi would look good in a paper bag. We want real representation.
S1973 (4 days ago)
Out of touch with the reality!
Emma Swan (4 days ago)
I’m surprised this video didn’t mention that the quality decreased while the competitors quality is much better.
Bobofet241 (4 days ago)
With age gravity will get ya all the time!
Shayanne Smith (4 days ago)
I’m enjoying every minute of this. Hope they bag in the streets 🤣🤣🤣🤣🤣
Jasmyne Williams (4 days ago)
Most woman are not skinny they are full and curvey. Need to make the market appealing for all.
Mervé C (5 days ago)
since selena gomez « sung » at their Fashion Show, the brand is increasingly flopping ! It’s selena gomez’s fault !
Solo Nepeon (4 days ago)
Pikacu Mecucu (5 days ago)
The models figures looks like trannies. Hips dont lie
theincredibleyou2413 (5 days ago)
Bras look D+ cups but only fit A cups
Levi B (5 days ago)
BUSTY If vs models are considered busty then I wonder what women with actual boobs bigger than a cup are considered as 😂
Saucey Sinister (5 days ago)
Part of the problem not mentioned here is that VS had a problem with their products having toxins in the fabrics. There was a huge outcry by those in organic lifestyles when women were becoming sick from their bras.
anchorman burgundy (6 days ago)
Just seen the victoria secret show in which weekend performed my goodness what an show ,now will advocate vs for life
www (6 days ago)
on their last fashion show majority of the models were 5-10lbs heavier, you can tell they even let barbara palvin walk the runway again. they only let her walk once before then dumped her when she started gaining weight.
G•Dèsireè _729 (6 days ago)
I dont even shop in VS. Looks cheap and the prices are 🤯 I went to winners and I got two Puma panties for $9.99 and they are comfortable and strong.
Popololo (6 days ago)
Did someone just jumped off the bridge at 2:18 - 2:20? Just look at foundation, there is like a white shadow that jumped off the bridge
Dashia James (6 days ago)
I gotta admit I used to love watching there shows now there shows are getting boring.... BLAH !!
Dashia James (6 days ago)
I bet Adore Me are gonna be higher ( moving faster) than VS...!! There lingere isn't expensive and there lingere is sooo cute, a lot of women are already falling in love w/Adore me !!
Mia Nile (6 days ago)
They sell to the ideal woman not actual and their clothes are trash also overpriced.
Michelle Lopez (6 days ago)
Not all women are model's VS very uncomfortable cheap made over priced products.The only thing I bought was VS body lotions & Perfumes pear glaze & midnight mimosas was their best seller's.
Roxy love (6 days ago)
It's just Over...
Virgo 11 (6 days ago)
Nobody wants their junk anymore... people are waking up! Don’t open new lines, just quietly fade into the background
Nicole Tetreau (6 days ago)
Ok, so here's the real tea on VS. I have always loved the comfort and quality that comes with the VS line. In the last year, I purchased three bras from VS. One had a metal front clasp, others had metal detailing. When I spend between $60-$90 for a bra, I expect the metal detailing not to be cheap and turn my skin green! They are selling a CHEAP product at a premium price, simple as that. So disappointing.
Veronica Kövesdy (7 days ago)
His remarks just showed what the brand was about. Basically.
esmeebUty (7 days ago)
I like their bras and panties I’m not gonna lie. I love the matching sweats with the matching sweaters too. I’m still going there, I hope they can pull thru and turn it around.
Creole Mello (7 days ago)
They steal so much of the pink merchandise ..I dont find it attractive when everyones wearing it and it starts looking cheap...like wal mart-ish...lol
Eye Ess (7 days ago)
i think is is some weird suto-propaganda
BlackDawg (7 days ago)
Victoria Secret models are still the BEST!
Miss Grumps (7 days ago)
Yup. I used to be able to wear their bras but ones my breast grew over 38d they didnt have bras for me. Too bad...I would gladly pay more for a body by Victoria in my size
Str8UpSeoulSister (7 days ago)
I can relate to the diversity, not only with body diversity but also racial diversity. For years, they have been pushing this narrative that you must have a slim and busty figure coupled with Eurocentric/acceptably ethnic features. I personally could not find any panties that fit over my ample bottom and birthing hips whenever I used to shop in a VS store. If they don't get with the times soon, they will face the same fate as Sears Holding Company.
Devona Bates (7 days ago)
Their bras are a joke, the quality sucks now
Riggins Riggins (7 days ago)
I prefer Waco or Olga and would buy from Steinmart first.
Trish C (7 days ago)
Bring back the catalog
Jess T. (7 days ago)
At least in Europe, specially in France we have nice brands of lingerie, they're elegant and functional and not tacky .. And i haven't even mentioned those huge gigantic bra sizes VS has.. it's like they only sell bras for women with huge breasts,or with huge implants! hahaha
Kristina Mullen (7 days ago)
I used to buy clothes from their catalog in the 80's.They were fashionable, good quality, and the prices were affordable.I was disappointed when this changed.
Kristina Mullen (7 days ago)
I'll take Walmart lingerie any day.VS is hideous, overpriced crap for trannies.
Tania Luna (7 days ago)
I remember being 12 and wanting a Victoria's Secret so bad. I even felt fat when I looked through the store. My mom hated it since she said it wasn't realistic. So now, I'm 23 and I barely look through the website. I rather shop my bra's at walmart or aerie.
Front Runner (7 days ago)
Here's Victor Victoria's Secret.... TRANNYS!
A B. (7 days ago)
The only things I like from them are their sports bras, and even then I only get them when they're on sale. The quality has gone down so much.
Tianna Ketner (7 days ago)
So what are the poppin lingerie brands??
Tianna Ketner (7 days ago)
Theyre too expensive and bring back swimsuits!
Tianna Ketner (7 days ago)
Bring the swim suits back
Heather Ballard (7 days ago)
I’m in college, struggling to get by, and I can’t afford a 35$ bra at the cheapest. Or underwear at 10$ a pair. It’s ridiculous and frustrating . I can never find my size because my cup size is awkwardly between a B and A. My breast slide under the bras cause there isn’t enough flesh to fill up the cups. The bras are designed for round, full, perfect perky breasts which is usually not realistic. Women’s boobs don’t look like that. I’m nearly flat chested and they don’t cater to that. I’m now finding companies that cater to small breasted women online. Still can’t afford it but it’s wonderful to know the option is there one day . I feel so insecure when I shop in there because I know how uncomfortable my breasts will feel in their bras.
Ronnie R (7 days ago)
I love VS their bras always fit and are comfortable and last me a long time, the only bras I wear. Im curvy and all their stuff always fit
Selina Sunay (7 days ago)
They use child labour, are way too overpriced, the quality is not that great for such a high price and on top of that they are transphobic and not inclusive of fat people
Aylén Guevara (8 days ago)
They’re cancelled
Carisa Peart (8 days ago)
Primart took over!
Santa Fe Fashion Week™ (8 days ago)
Michelle Grant (8 days ago)
Once they stopped carrying pants and sweaters I lost interest.
Joni Williams (8 days ago)
Hate to break it to you CNBC, but you missed the biggest reasons why VS is losing its following. I've been (or was) shopping there literally as long as I can remember. But last year I stopped buying anything from them. The prices are high as others have pointed out and the quality over the years has dropped insanely low. Target, Walmart + fast fashion retailers all have competitive lines at a fraction of the price that are -- surprise! -- offer either close or above their quality. After making a major investment in their VS Sport apparel line, I had to buy a slew of lingerie bags because I found they were disintegrating when washed, even on the gentle cycle. Also, many of the items were designed to be cute but didn't perform very well when worn in a work out (i.e. uncomfortable hook and eyes along the spine that were painful during Pilates). Their top tier lingerie, though pretty, was too expensive and their everyday items were too though cheap in quality. For the most part, their sizing was pretty consistent ... until it wasn't. Though the bottoms were consistent some of the tops and other items could be really way off.
Leydi Morales (8 days ago)
Fenty and Aerie killing the game rn!!!
Gee Tee (8 days ago)
Seems like fat and ugly chicks hating on beautiful women. Nothing to see here. Child and slave labor are a far secondary concern if at all.
Jojo Saylor (8 days ago)
Its sales are bad because of the quality has declined and customer service is horrible
kristina barkovic (8 days ago)
I mostly stopped shopping there because they started having unappealing styles and patterns. Maybe it was just the time I came there they didn’t have anything interesting. But it happened at least 3 recent times. One time I washed their brand new bra in washer and i found it split in half 😺😑 the fabric between cups just torn off. It was the bra’s 1st wash
Hailee Stewart (8 days ago)
Maybe if VS included women of all sizes and heights as their models. Not just women who compulsively exercise and restrict their food to “achieve” a small body.
MizzPretty Huston (8 days ago)
Also I bought clothes from Wal-Mart that held up better....one week after buying a 50 dollar bra from VS the wire popped out.
MizzPretty Huston (8 days ago)
One reason is failing to let a transgender woman be a spokesperson or in the show.......I disagree with them on this!
Chelsea Taylor (8 days ago)
Galations2 8 There is neither Jew nor Gentile, neither slave nor free, nor is there male and female, for you are all one in Christ Jesus.
Indiegirl007 (8 days ago)
They don't carry my size. Nothing even close. And to the 'slim but busty' line: A B-cup is not 'busty'.
Indiegirl007 (2 days ago)
+Nikki Cooper They just look at my chest and say, 'I don't think we have your size."
Nikki Cooper (2 days ago)
This. 15 years ago I used to shop there, IF I could find a D cup that wasn't white, nude, or black. Eventually I just gave up and went somewhere else instead of wasting a whole trip to the mall just to be told "sorry, but we do have it in nude!"
Indiegirl007 (8 days ago)
I stopped watching the fashion show, because after I would watch it, I would feel terrible about my body. I'm generally okay with my body, but that show would just have me feeling a certain kind of way about myself.
DeAndre Holland (8 days ago)
Regular women..... gotcha’.
Toby Ab (8 days ago)
Victoria secret is old and out of touch with ALL women today that is in demand today.. Victoria Secret is way too old fashioned and conservative. They are done.
Google User (8 days ago)
Finally!! Gosh i never shop there cause i actually have curves. No women who has a real body is comfortable in these bras....
Fallon M (8 days ago)
I shop at aerie. Anything that I bought from VS ripped and didn’t last!
peekaboots01 (9 days ago)
I don't want to see trans models.
saida287 (9 days ago)
No bras for plus sizes and bigger cups. I now go to Macy’s, Soma, and even QVC or HSN ( I love Rhonda Shear Ahh bras from there)
Teehova Forreal (9 days ago)
So disappointed, been wearing only Vicky secrets for 20yrs. Will truly be missed.
MJMusic (9 days ago)
the fact that bella hadid and other models starve themselves down to walk in the show as recently as 2018 was the reason so many of my peers refused to watch the show. I mean regardless of if the models are told to slim down or not, that unattainable image is the vibe of victoria secret. No one can relate, not even supermodels. Not to mention, who even wears bras anymore.
m0L3ify (9 days ago)
I used to like their clothes when I was in college. I could always tell if the pants were long enough for my legs by how the models wore them in the catalogs. If the waist band was around the bottom of their hips, I knew the pants were too short. That being said, unless you're a size 0 with a tiny chest, they're just not going to have your size. I know I'm exaggerating, but not by much. It wasn't long before they'd laugh in the store when I told them what size bras I needed because there was just no way they were ever going to carry them. It's been ages since I shopped there. Definitely doesn't cater to normal women.
Ella Salaam (9 days ago)
Bring back Adriana Lima, Alexandra Ambrossio, Miranda Kerr, Tyra Banks and many of the older models and you'll see the amount of people watching VSF go up!!!
Allison Bradley (9 days ago)
Funny as a plus size women a store near me told me i wasn't welcome there and i should try lane bryant. Keep in mind i was 18 to younge 20s at the time. I felt ugly and i never went back still to this day.. over 10 years later. I hate that store/company.
Madison (9 days ago)
Their bras fall apart after 3 months.
PRIS (9 days ago)
Thanks Instagram models, strippers and Twerking
Sharice Harrell (9 days ago)
If VS doesn’t change they’ll be the next blockbuster who failed to realize the changing market trends.
Tabitha Deynes (9 days ago)
The shutting down of swim suit and clothes really hurt
Tabitha Deynes (9 days ago)
Because it's to damn expensive. Also the styles are made for stick figure women
Sorcerer Vaati64 (9 days ago)
The root of the problem for me is size. I am a complicated size and go to a specialist fitter/seamstress. Also their products down right feels like cloth. Everything is padded and you know not all people wear pad because they are “naturally” padded
Conspiracy Hamster (9 days ago)
My body by victoria bra is soft and awesome but i had to cut holes in the side to slide out the wires.