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Victoria Secret sales hit a low


Victoria’s Secret sales fell by 2% in October, this is a new affair owing to a series of speculations doing a round around the brand. The brand which accounts for nearly 70% of L Brand's revenue, has dropped some categories including swimwear, which made up about 6.5% of the brand’s sales in 2015.

L Brands, which also owns La Senza and PINK, experienced a fall in shares after the company said it had expected Victoria’s Secret sales to drop in October, which follows the departure of CEO Sharen Turney earlier this year.

The October decline is the first fall for the brand since May, with some suggesting that it is struggling to recover from Turney’s departure, who oversaw total sales revenue increase from £3.67 billion to over £5.71 billion in 2015. The failure is also being attributed to factors such as increased competition, a drop in footfall in shopping centres and a tough environment for fashion chains.

But L Brands confirmed that although it took a hit from Victoria’s Secret decreased sales, it enjoyed a 6% comparable sales increase at its Bath & Body Works brand.

Also amidst popular anticipations centring around this year's Victoria Secret's fashion show, the brand had finally decided to break the ice with teasers and clues regarding the same. The grand event is scheduled for December in Paris. Which is again a first time stop. The event is ready to get bigger and better with more than 52 models and the biggest names of the industry making there way on the ramp. From Russian supermodel Irina Shayk and Bella Hadid to Adriana Lima, Kendall Jenner and Gigi Hadid and many more will grace the occasion to glory.

The Angels will be graced by a few of the biggest stars in the music industry too, namely Bruno Mars, The Weeknd and Lady Gaga. They will be joined on stage by new Victoria’s Secret Angel Jasmine Tookes, wearing the Eddie Borgo-designed 2016 Bright Night Fantasy Bra, covered in $3 million worth of emeralds and diamonds. While the sales figure dipped to give a chill to the brand, they are not ready to accept the freeze and is warming up to heat up the fashion scene with their yearly fashion parade very soon!

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