Victoria’s Secret’s Comeback Story
Remember when Victoria’s Secret seemed to lose its spark? Not too long ago, the brand made some questionable choices, moving away from the captivating beauties that had built its reputation, replacing them with models that didn’t have the same appeal. I mean, it was a puzzling shift. It seemed like they were trying to be inclusive, but it didn’t really hit the mark.
Fast forward to 2023, and the company’s stock is now hovering above $70, a stark contrast to its slump below $15 just a short while ago. What changed? It’s quite straightforward.
Victoria’s Secret has revamped its advertising strategy, distancing itself from what many viewed as less appealing images in their promotional materials. I’m not being harsh; it’s just that not everyone wants to see every body type in lingerie. The brand used to represent fantasy and allure—something special, really. Nobody expects to see, say, an average Joe in a Speedo on the runway.
Back in 2021, the stock took a nosedive, plummeting from $57 to around $20 on good days. Once celebrated as the ultimate in sexy fashion, with extravagant pieces and iconic runway shows, the brand struggled as cultural perceptions shifted. Millennials began advocating for body positivity, and Victoria’s Secret struggled to adapt. Their efforts to reposition themselves, perhaps involving progressive voices, weren’t well received and barely resonated with customers. They couldn’t regain the loyalty of their previous fan base and failed to attract newer shoppers.
Hiring someone like Megan Rapinoe as a brand ambassador? That didn’t help either—it seemed like an odd choice. It kind of felt like putting me in charge of promoting Disney; it just doesn’t fit.
Then came a critical point for the company, teetering on the verge of bankruptcy. In August 2024, Hilary Super stepped in as CEO, leading a change in direction that brought back a sense of classic allure.
The company recently changed its stock symbol to “VSXY,” moving away from the previous “VSCO.” This was a clear attempt to signal a return to their roots, something that seemed to instill confidence in investors.
Super expressed confidence in this new direction, emphasizing that the change aligns with their strategic goals. They’re poised to own this image, and I think there’s a renewed sense of pride in their branding.
And yes, fantasy is making a comeback. That said, it’s worth mentioning that while some might find beauty in a wider range of representations, that’s often more about personal preference. However, the majority still lean toward traditional notions of charm and allure. Victoria’s Secret had to choose: cater to niche attractions or appeal to a broader audience.
This wave of inclusiveness seemed less about celebrating diverse beauty and more like an attempt to reshape societal norms under a layer of pressure. It felt like an endeavor to normalize what many perceived as unattractive. Thankfully, public opinion remains robust; people have voiced their concerns through reduced sales and waning stock prices.
