(Filed Under wholesale Lingerie News). Things have taken a positive turn at Victoria’s Secret this fall, according to Sharen Jester Turney, chief executive officer and president of the iconic lingerie and women's apparel company.
But its conservative approach to business has not stopped Victoria’s Secret from continuing to challenge the market with innovation designs. While many lingerie designers have stuck to basic black, white and nude shades, Victoria’s Secret continues to focus on color, fashion newness and key product launches in bra’s, panty’s and beauty.
“The popularity of color [in lingerie] has increased this year,” Turney said. “Black, white and nude of course sell well for us, but color is performing increasingly well.”
On November 4th, the company’s latest innovation, the Miraculous bra—designed to push a woman’s bust-size up a whopping two cups—hit stores. Miranda Kerr, a Victoria’s Secret Angels supermodel, described the Miraculous bra as extremely comfortable and flattering.
For the holiday season, among many other giftables, the company offers new lingerie and accessories under the Sexy Little Things line embellished with playful sayings, such as facemasks inscribed with; “wake me with a kiss.”
In the retail arena, Victoria’s Secret, which currently operates 1,049 stores, plans to focus on international expansion in 2010, starting north of the border. The company has already opened four PINK stores in Ontario, Canada, and plans to open four Victoria’s Secret stores in the country next year. Domestically, Victoria’s Secrets’ first store in Hawaii opened in early October. The company has also added new stores in New York City’s Soho neighborhood, Michigan Avenue in Chicago, and Aventura, FL.
As one of the most recognized brands worldwide already serving 80 countries through VictoriasSecret.com, it seems like a great time for an International store expansion.
Limited Brands promoted Turney to the position of president and CEO of Victoria’s Secret in July 2006. Previously, she served as president and chief executive officer of Victoria’s Secret Direct, the brand’s catalog and e-commerce arm, starting in 2000. According to Limited Brands, under her leadership, Victoria’s Secret Direct became one of the world’s largest direct marketers of women’s apparel and lingerie in the United States, with sales in 2005 peaking at over $1.2 billion. Turney began her apparel career in 1979 at Foley’s, and served in various senior level roles at Neiman Marcus, Inc. prior to joining Victoria’s Secret. She received her Bachelor of Arts degree in business education from the University of Oklahoma.
In 2008, Victoria’s Secret sales, including La Senza sales, totaled at $5.6 billion.
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