Victoria Secret - SWOT analysis

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STRENGTHS:
  • The Victoria secret fashion show which creates mass advertising as on elf the biggest fashion shows in the world being showcased in leading fashion magazines and TV channels. 
  • Victoria Secret is a brand that creates celebrities and has a huge celebrity following 
  • They have a big focus on customer engagement and even though sales are declining they still have a very dedicated fan base of loyal customers 
  • Victoria secrets legendary in-store experience that many brands miss out on. They pride them selves on there store and the layout of the store with the pink striped wallpaper and the spacious fitting rooms. Although many of this generation now prefer to shop online when it comes to lingerie and predominately bras its found that women prefer to shop in-store to get expert advise and bra fittings. This is something brands like Savage-Fenty lack.


WEAKNESSES:
  • They have a very negative association at the moment with the statement VS’s chief marketing officer Ed Razek made around transgender and plus size models not being included in the VS fashion show as the show is a ‘fantasy’ and they are not part of it. Many have clung onto this statement and not let go. Transgender influencer ‘Nikita Dragun’ fired back posting a video on instagram which got over 11 million views; it was captioned "dear Victoria’s Secret, you said trans women can’t sell the “fantasy” so here i am as a TRANS WOMAN selling the FANTASY! 👼🏻 everyone is beautifully unique. embrace your differences. stand tall in who you are! live your fantasy and don’t let anyone tell you otherwise. "
  • There use of models is boring and unoriginal. There model choice hasn’t changed since they opened in 1977 yet the world has and as Gen Z is taking over they want to see more and more diversity such as models with: disabilities, plus size, transgender, short, bald, nature, mixed ethnicity etc. We as the rising generation want to see some more originality and acceptance.
  • VS’s ethical morals are non-existent as an investigation report from Bloomberg reveals that the “fair-trade, organic” cotton used in a number of VS’s products is shockingly produced by a company that largely relies on forced child labourers. VS have no worker empowerment initiators such as collective bargaining or rights to make a complaint and has made no progress towards ensuring payment if a living wage. Information sourced from https://goodonyou.eco/how-ethical-is-victorias-secret/
  • The VS PINK range causing controversy with parents as its adverts and younger models are seen to be sexualising the market of young girls and children.


OPPURNUTIES 
  • Branch out and bring out a mens range
  • Bring out a plus size range and expand the size range of the bras to better suit women with bigger busts than a DDD (which is VS biggest size available).
  • Bring out celebrity endorsements with inspirational women who aren’t VS’s typical model such as Ashley Graham or Slick Woods.
  • Bring out a range of garments and lingerie that are ethically sourced and made and advertise widely so people know that VS are making a change.
  • Bring the target audience up. VS have had so much backlash towards the consumer demographic being too low and many young teens can’t afford a $70 bra anyway so branching out to the older generation will not only bring sales up but also introduce a new element of classy and sophisticated.


THREAT’S:
  • Brands such as; Savage x Fenty, Les girls les boys, Nubian skin, Reformation, Svala, Moonbird, Naja, Ayten Gasson, Underprotection, Use Surana and Aerie. Who are all innovative and fresh using natural models, natural resources, ethical produce and a range of individual yet beautiful models. 
  • VS biggest two threats are Savage x Fenty and Aerie. Savage x Fenty is a new and upcoming brand birthed by Rhianna in 2018 who shook the lingerie community by using a huge range of extremely individual models to promote her lingerie, even though VS and Savage x Fenty are around the same price point Savage x Fenty’s profits are souring compared to VS’s decline. Savage x Fenty recently put on a lingerie show which Is one of the first to come up and rival against The VS Show. Both Bella and Gigi Hagid which regularly features in the VS Fashion Show were also seen modelling Savage x Fenty’s line.






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