Victoria’s Secret Pink: Keeping the Brand Hip
VICTORIA’S SECRET PINK: KEEPING THE BRAND HIP
When most people think of Victoria’s Secret, they think of lingerie. Indeed, the Limited Brands division has done a very good job of developing this association by placing images of super-models donning its signature bras, panties, and “sleepwear” in everything from standard broadcast and print advertising to the controversial prime-time television fashion shows that the company airs each year. Such promotional tactics have paid off for Victoria’s Secret, a subsidiary of Limited Brands, which continues to achieve healthy sales and profit growth.
How does a successful company ensure that its hot sales don’t cool off? One approach is to sell more to existing customers. Another is to find new customers. Victoria’s Secret is doing plenty of both. One key component in its quest to find new customers is the launch and growth of its sub-brand, Pink.
EXPANDING THE TARGET MARKET
Victoria’s Secret launched its line of Pink products in 50 test markets in 2003. Based on very positive initial results, the company expanded the sub-brand quickly to a national level. With the Pink introduction, Victoria’s Secret hoped to add a new segment to its base: young, hip, and fashionable customers. “Young” in this case means 18 to 30 years of age. More specifically, Pink is geared toward college coeds. According to company spokesman Anthony Hebron, “It’s what you see around the dorm. It’s the fun, playful stuff she needs, but is still fashionable.”
The company classifies the Pink line as “loungewear,” a very broad term that includes sweatpants, T-shirts, pajamas, bras and panties, pillows and bedding, and even dog accessories. In keeping with the “young and fun” image, the product line includes bright colors (Pink is not a misnomer) and often incorporates stripes and polka-dots. The garments feature comfortable cuts and mostly soft cotton fabrics. To keep things fresh for the younger segment, stores introduce new Pink products
When most people think of Victoria’s Secret, they think of lingerie. Indeed, the Limited Brands division has done a very good job of developing this association by placing images of super-models donning its signature bras, panties, and “sleepwear” in everything from standard broadcast and print advertising to the controversial prime-time television fashion shows that the company airs each year. Such promotional tactics have paid off for Victoria’s Secret, a subsidiary of Limited Brands, which continues to achieve healthy sales and profit growth.
How does a successful company ensure that its hot sales don’t cool off? One approach is to sell more to existing customers. Another is to find new customers. Victoria’s Secret is doing plenty of both. One key component in its quest to find new customers is the launch and growth of its sub-brand, Pink.
EXPANDING THE TARGET MARKET
Victoria’s Secret launched its line of Pink products in 50 test markets in 2003. Based on very positive initial results, the company expanded the sub-brand quickly to a national level. With the Pink introduction, Victoria’s Secret hoped to add a new segment to its base: young, hip, and fashionable customers. “Young” in this case means 18 to 30 years of age. More specifically, Pink is geared toward college coeds. According to company spokesman Anthony Hebron, “It’s what you see around the dorm. It’s the fun, playful stuff she needs, but is still fashionable.”
The company classifies the Pink line as “loungewear,” a very broad term that includes sweatpants, T-shirts, pajamas, bras and panties, pillows and bedding, and even dog accessories. In keeping with the “young and fun” image, the product line includes bright colors (Pink is not a misnomer) and often incorporates stripes and polka-dots. The garments feature comfortable cuts and mostly soft cotton fabrics. To keep things fresh for the younger segment, stores introduce new Pink products