Marketing Strategy Victoria Secret
MARKETING STRATEGIES Hanoi, January 2012
Contents I. General View 3 II – Executive summary 4 III – Current market situation: 4 IV – SWOT analysis: 12 V – Objectives and Issues: 13 VI – MKT strategies: 14 VII – Action programs and Budgets: 15 VIII – Control: 19
I. General View (NGỌC) 1. History:
Victoria 's Secret is an American retailer of women 's wear, lingerie and beauty products that is owned and run by the Limited Brands Company. This company was founded in 1963 in Columbus, Ohio. Victoria 's Secret was started in San Francisco, California, in 1977 by Roy Raymond who was Business alumnus of Tufts University and Stanford Graduate School. He 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. With this store he hoped that it could 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 million. The Limited kept the personalized image of Victoria 's Secret intact. Victoria 's Secret was rapidly expanded into the U.S. malls throughout the 1980s. The company was able to vend a widened range of products, such as shoes, evening wear, and perfumes, with its mail catalog issued eight times annually. By the early 1990s, Victoria 's Secret had become the largest American lingerie retailer, topping one
Contents I. General View 3 II – Executive summary 4 III – Current market situation: 4 IV – SWOT analysis: 12 V – Objectives and Issues: 13 VI – MKT strategies: 14 VII – Action programs and Budgets: 15 VIII – Control: 19
I. General View (NGỌC) 1. History:
Victoria 's Secret is an American retailer of women 's wear, lingerie and beauty products that is owned and run by the Limited Brands Company. This company was founded in 1963 in Columbus, Ohio. Victoria 's Secret was started in San Francisco, California, in 1977 by Roy Raymond who was Business alumnus of Tufts University and Stanford Graduate School. He 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. With this store he hoped that it could 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 million. The Limited kept the personalized image of Victoria 's Secret intact. Victoria 's Secret was rapidly expanded into the U.S. malls throughout the 1980s. The company was able to vend a widened range of products, such as shoes, evening wear, and perfumes, with its mail catalog issued eight times annually. By the early 1990s, Victoria 's Secret had become the largest American lingerie retailer, topping one
References: * Victoria 's Secrets, Jungle Magazine (2001, February 1) * Began Victoria 's Secret, New York Times (1993, September 2) * "Victoria 's Secret, the intimate apparel retailer and catalogue company". Fashionunited.co.uk. Retrieved 2011-11-11. * http://www.limitedbrands.com/ * http://www.victoriassecret.com/ * "Limited Brands 2006 Annual Report". Retrieved 21 April 2007