DeepSummary
The episode explores how Victoria's Secret faced increasing competition from new lingerie brands that embraced body positivity and inclusivity, challenging the brand's traditional marketing focused on thin, airbrushed "Angels." As cultural shifts occurred, brands like Aerie, Savage X Fenty, and ThirdLove gained traction by catering to diverse body types and promoting self-acceptance.
Despite its massive sales, Victoria's Secret struggled to evolve and respond to these changing consumer preferences. Under CEO Les Wexner's leadership, the brand made questionable decisions like discontinuing product lines, eliminating catalogs, and heavily discounting merchandise, eroding profitability. Wexner's controversial relationship with Jeffrey Epstein also drew scrutiny.
As rivals expanded their market share, Victoria's Secret ultimately canceled its iconic fashion show and explored strategic options, including a potential sale to a private equity firm. However, the COVID-19 pandemic disrupted these plans, leading to a decision to spin off Victoria's Secret as a separate public company, marking a pivotal transition.
Key Episodes Takeaways
- Victoria's Secret struggled to adapt to changing cultural values and consumer preferences towards body positivity and inclusivity, allowing new lingerie brands like Aerie, Savage X Fenty, and ThirdLove to gain market share.
- Under CEO Les Wexner's leadership, Victoria's Secret made questionable business decisions like discontinuing product lines, eliminating catalogs, and heavy discounting, eroding profitability.
- Wexner's controversial relationship with Jeffrey Epstein drew scrutiny and negative press for Victoria's Secret, further damaging the brand's reputation.
- Despite its massive sales, Victoria's Secret ultimately canceled its iconic fashion show and explored strategic options, including a potential sale to a private equity firm.
- The COVID-19 pandemic disrupted plans for a sale, leading to the decision to spin off Victoria's Secret as a separate public company, marking a pivotal transition for the brand.
- New lingerie brands successfully challenged traditional sizing norms and beauty standards, offering more inclusive options for diverse body types.
- Victoria's Secret's reliance on catalogs and failure to adapt to changing consumer behavior, particularly among younger shoppers, contributed to its struggles.
- The lingerie industry as a whole underwent significant changes, with new brands pushing for greater inclusivity and body positivity, reshaping industry norms.
Top Episodes Quotes
- “So people, and specifically younger consumers, were determining their shopping choices outside of this, like, catalog ecosystem that retailers had really relied on.“ by Jordan Holman
- “Traditional bra sizing. Right? You have b cups and you have c cups, and if you don't fit into one of those, you make do. And we created the b and a half. We basically said, there can be this third option for women that's different than what the industry offers.“ by Rihanna
- “But there was a lot of power in changing. Third loves branding. Instead of using modeling agencies, they searched for models on Craigslist. And those models werent wearing 30 a size bras like Bridget Malcolm from our first episode.“ by Vanessa Gregoriotis
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Episode Information
Fallen Angel
Audacy Studios | Campside Media
11/17/21