Written Report Victoria Secret in Saudi Arabia
Written Report in Channels Distribution
Prepared By:
Ivan Carlo M. Rivera
I. Introduction Victoria's Secret is the leading specialty retailer of lingerie operating more than 1,000 stores across the U.S. Victoria's Secret has helped, perhaps more than any other brand, attract attention to the lingerie industry. Their advertising campaigns, including the Victoria's Secret Catalog and Victoria's Secret Fashion Show are visually appealing and controversial. The attention received by Victoria's Secret for their aggressive advertising campaigns has generated priceless word-of-mouth and media bytes to further enhance the Victoria's Secret brand.
Victoria's Secret sales in 2003 were a reported $2,822 million across 1,009 stores. Selling square feet were 4,735,000, equivalent to average sales per square foot of approximately $600, up almost 3% from prior year. Overall, same store sales were up almost 4% from prior year.
II. Company’s History
Victoria's Secret was founded in San Francisco, California, in 1977 by Tufts University and Stanford Graduate School of Business alumnus Roy Raymond, who felt embarrassed trying to purchase lingerie for his wife in a department store environment. He opened the first store at Stanford Shopping Center in Palo Alto, and quickly followed it with a mail-order catalog and three other stores.The stores were meant to create a comfortable environment for men, with wood-paneled walls, Victorian details and helpful sales staff. Instead of racks of bras and panties in every size, there were single styles, paired together and mounted on the wall in frames. Men could browse for styles for women and sales staff would help estimate the appropriate size, pulling from inventory in the back rooms.
In 1982, after five years of operation, Roy Raymond sold the Victoria's Secret Company, with its six stores and 42-page catalogue, grossing $6 million per year, to Leslie Wexner, creator of The Limited, for $4
Prepared By:
Ivan Carlo M. Rivera
I. Introduction Victoria's Secret is the leading specialty retailer of lingerie operating more than 1,000 stores across the U.S. Victoria's Secret has helped, perhaps more than any other brand, attract attention to the lingerie industry. Their advertising campaigns, including the Victoria's Secret Catalog and Victoria's Secret Fashion Show are visually appealing and controversial. The attention received by Victoria's Secret for their aggressive advertising campaigns has generated priceless word-of-mouth and media bytes to further enhance the Victoria's Secret brand.
Victoria's Secret sales in 2003 were a reported $2,822 million across 1,009 stores. Selling square feet were 4,735,000, equivalent to average sales per square foot of approximately $600, up almost 3% from prior year. Overall, same store sales were up almost 4% from prior year.
II. Company’s History
Victoria's Secret was founded in San Francisco, California, in 1977 by Tufts University and Stanford Graduate School of Business alumnus Roy Raymond, who felt embarrassed trying to purchase lingerie for his wife in a department store environment. He opened the first store at Stanford Shopping Center in Palo Alto, and quickly followed it with a mail-order catalog and three other stores.The stores were meant to create a comfortable environment for men, with wood-paneled walls, Victorian details and helpful sales staff. Instead of racks of bras and panties in every size, there were single styles, paired together and mounted on the wall in frames. Men could browse for styles for women and sales staff would help estimate the appropriate size, pulling from inventory in the back rooms.
In 1982, after five years of operation, Roy Raymond sold the Victoria's Secret Company, with its six stores and 42-page catalogue, grossing $6 million per year, to Leslie Wexner, creator of The Limited, for $4