Victoria’s secret lingerie is sold by a company called Victoria’s secret which falls under the apparel industry. The company was founded in the year 1977 by a graduate from Eric Heisler. He started the first store after realizing that there was no private store for purchasing undergarments.
Most of them were displayed publicly in big stores. The company has its headquarters in Columbus, Ohio. It offers a number of products but mainly focuses on women’s undergarments.Other products offered include; fragrances, nightwear, hosiery, panties, bras and cosmetics. The company is a brand under the Limited brand with reported revenue of close to five billion dollars last year.
Victoria’s secret has earned a reputation as the country’s best dealer in women’s apparel. It has about one thousand stores in the United States. The company has sold close to half a million of its products last year through catalogs. There are a number of collections that can are used by the company to group its products. There are also locations within stores that have specifically been chosen for displaying the company’s range of beauty products. (Victoria’s secret homepage, 2007) Place Where to buy products If one requires an item from the Victoria’s secret clothing range.
Then they can obtain it from any Victoria’s secret store near them. Since there are a number of stores located throughout the country, then customers can conveniently access items without too much strain.Alternatively, consumers can shop online through Victoria’s secret.com website. This is normally done through application of a catalogue after which products can be delivered personally to a consumer’s location. Information about where the Victoria secret stores are is found on limited brands.
com website. Franchising Victoria’s secret is not a franchised company where franchising can be seen as duplication of systems through support and training. It is a corporate owned company operating under the Limited Brands name. (Victoria’s secret homepage, 2007) Dealerships The company has recently teamed up with Yahoo to cover their annual event called the Victoria secret fashion show awards.There is a lot of hype that has been generated around this fashion show because it has been associated with a number of high profile models in the fashion industry. These include Stephanie Seymour and Tyra Banks.
In addition, the fashion show has a charitable cause behind it. The business deal between yahoo and Victoria’s is therefore quite significant to both parties because Victoria’s sales are boosted by this event. The deal has also helped yahoo because it generates a lot of appeal to various internet users. A number of other dealerships have been made by the company in the recent past.The company operated independently under its own name for a period of five years. It was known for its displays.
Goods were in one size but came in different varieties. This meant that customers could choose what style they wanted from the displays and then they could then specify the size they wanted to salesmen and women. After a period of five years, the comp any was sold to the limited. This personalized image of the company was maintained by the new owners. The company has undergone a lot of expansion and is now a leading retailer in lingerie.
Because the Victoria secret stores were doing so well in sales, they have become the main focus of the Limited Brands. This was because Victoria’s was earning The Limited brand about seventy percent of its revenue. Distribution Distribution of Victoria’s secret lingerie is wide.This is testified by the four hundred million products which were sold by the company in the year 2006. It has three distribution channels.
These can be outlined as follows; • Catalog. • e-shop and marketing. • stores (Brand channel, 2005) The catalog is perhaps one of the most reliable distribution channels for the company. This can be analyzed through a visit to the company’s official website. It is surrounded by attractive models and special offers that are designed to woo customers.This e-shop enables clients to surf for whatever product they desire, be it shoes, clothes, swimwear, beauty products and many others.
The catalog enables shoppers to place a quick order for the purchase of a desired product. In addition, the catalogue also allows customers to view their desired product in a customized way i.e. they can enlarge it. • Stores are the most straightforward distribution channels in the company and consumers get to see for themselves the products they are buying. They are also able to gain advice on what products are most suitable for them.
(Brand channel, 2005)Price Goods may cost between forty dollars to two dollars depending on what they are. Beauty products tend to be on the higher side e.g. ‘so in love’ perfume costs twenty nine dollars, Victoria’s secret passionate kisses gift set costs thirty dollars while Victoria’s secret basic instinct perfume costs forty dollars.
Clothing items are also on the high side, e.g. a hipster ruffer coat goes for thirty-six dollars and a Victoria’s secret pink down vest costs thirty dollars. On average most of the prices are between ten to twenty dollars for example a v neck baby doll and panty hose cost twenty dollars, a push up bra costs ten dollars, v-strings thongs cost ten dollars while pure seduction lotion costs five dollars.
(Greyscale, 2007)But this must be compensated by shipping costs if the goods have been purchased online. The above prices are non inclusive. There have been complaints that shipping costs are quite exorbitant. Some people have claimed to have paid close to fifteen extra dollars in shipping costs. However, one has to consider distance between the company’s stores and the consumer’s location.
The various sizes are sold at the same price. A Victoria’s secret seamless bra 36d costs ten dollars, while a 34d, 40dd are all sold at the same price. The range of prices in local outlet stores does not differ greatly from these prices quoted above. Most of these products could cost about a fifth of their market price. This is because the company has to consider a lot of expenses involved between the manufacturer and the consumer thus cutting down on profits. (Greyscale, 2007)Most of the products are labeled on boxes.
Sometimes the company can design these boxes to suit a particular occasion. For example, on Valentines Day, lingerie is usually enclosed in heart shaped boxes to fit the occasion. Promotions There are numerous advertisements that the company uses for a display of its products. The company normally uses occasions to promote its products.
For example, in 2004, there was a Christmas advertisement for Victoria’s lingerie. These were advertisements are usually composed of well-known models designed to appeal to the audience. Some of the advertisements made by the company have titles like; what is sexy?, My bodyguard, 1 seamless bra, 5 seamless ways.The Victoria secret has its own magazine that advertises various promotions and lastly, the company has a number of billboards found in a number of locations from taxicab windows to roadsides. Most of these billboards are known for having beautiful models dressed in very captivating lingerie.
The most important promotional event is the Victoria’s secret lingerie fashion award. The event is characterized by Victoria’s angels. These angels must be appealing and must have personality. (Boteach, 2003) Conclusion The company has done well in the retail industry because it has an edge over other competitors in the market. First of all, it specializes in apparel thus enabling it to give personalized services to clients.
It has a well designed website for online shoppers and engages in a number of promotional items for the company.
