(WTVO) — Lingerie retailer Victoria’s Secret says it is bringing “sexiness” back after efforts to overhaul its hyper-sexualized image in favor of a feminist makeover resulted in a drop in sales.
In a presentation to investors last week, brand president Greg Unis said the company was going to put a focus back on sex appeal to improve profitability and lure younger shoppers from upstarts such as Savage X Fenty and Parade, CNN reported.
Unis said the brand’s efforts to promote inclusivity, such as featuring LGBTQ and transgender spokesmodels and retiring its famous runway “Angels,” got the brand favorable notices from critics but have not helped the bottom line.
“Despite everyone’s best endeavors, it’s not been enough to carry the day,” said chief executive Martin Waters.
This year, Victoria’s Secret is projecting revenue of $6.2 million, well below its $7.5 million take in 2020.
“Sexiness can be inclusive,” said Unis. “Sexiness can celebrate the diverse experiences of our customers and that’s what we’re focused on.”
The company’s new goal is to introduce activewear and swimwear, and update its existing stores.
Last month, the annual Victoria’s Secret Fashion Show, which ran for more than 20 years on broadcast television, was replaced by a feature-length documentary called “The Tour ’23,” on Prime Video.
Victoria’s Secret is still the largest underwear retailer in North America, with about 20% of market share.