Women here in Singapore are not ignorant about Victoria’s Secret. Men in fact also know about the brand because of the famous Victoria’s Secret Angels. Victoria Secret is a famous brand in retail industry. Its market share is 35% which is by far the largest portion. There are other retailers who dream of crushing the giant but they cannot beat its dominance.
The company focuses on captivating women and girls in America. These days, Victoria’s Secret regionalized which made the brand more dominant. Victoria’s Secret has come to Singapore and they are determined to stay. Danielle McCoy, the President of Equity Research, shared some of Victoria’s Secret formula for success. The formula includes:
- Getting their target customers: Victoria’s Secret is proud of its marketing strategy. Its strategy is simple and uncomplicated. It only exists to charm female customers. The advertising team of the brand carefully handpicks models. The team makes sure that female customers can relate to the model.
- Online stores: The company is dedicated to give the customers access to their stores regardless of the time or territory. For example, bras that are promoted in the store are displayed in flagrantly in the website. The online data facilitates smart decision-making for customers.
- International market: A huge opportunity for the company unfolds because of its regional presence. The growth of the company overseas only proves that the brand is getting stronger and better. Victoria’s Secret has many stores in Asia. It does not stop there because the company now integrates Asian models.
The lingerie business is a lucrative business and Victoria’s Secret proves that.