Victoria’s Secret is learning a valuable lesson.
In 2021, the legendary lingerie chain announced a new ‘woke’ approach to branding and advertising featuring soccer player Megan Rapinoe as a brand ambassador.
Then something very predictable happened. Their sales plummeted. Now the company has announced that they’re going back to basics.
The Washington Examiner reports:
Victoria’s Secret goes back to basics after DEI marketing tanks sales
Lingerie retailer Victoria’s Secret plans to withdraw its attempt at being more inclusive with its marketing , reverting to its original reputation in the wake of decreased sales.
The brand, known for hiring beautiful models, has tried to diversify its models over the past few years, including plus-size and transgender representatives. However, the rebrand attempt has not translated to increased sales , with the outlet’s projected revenue for this year at $6.2 billion, down by almost 20% compared to 2020’s $7.5 billion.
“Despite everyone’s best endeavors, it’s not been enough to carry the day,” Victoria’s Secret CEO Martin Waters said.
Part of the attempted rebrand included hiring Megan Rapinoe , an athlete and activist who has advocated transgender women competing in women’s sports, and Valentina Sampaio, who became the outlet’s first transgender model. In the wake of Sampaio’s hiring, Ed Razek, former chief marketing officer of Victoria’s Secret, resigned from the outlet.
Anyone could have told them that this appraoch wasn’t going to work.
In a stunning and innovative turn, Victoria’s Secret now decides that perhaps, prioritizing, attractive women might actually increase sales https://t.co/TpzVyEvIbn
— Kurt Schlichter (@KurtSchlichter) October 18, 2023
Victoria’s Secret ditches prioritizing wokeness over ‘sexiness’ after sales drop https://t.co/A2NGnEa34zpic.twitter.com/3vOm2Pwrqo
— New York Post (@nypost) October 18, 2023
I hope Victoria Secrets fires the idiots who thought DEI would sell more merchandise.
Victoria’s Secret goes back to basics after DEI marketing tanks sales https://t.co/fCS6IacOAy
— RookieUmpire (@RookieUmpire) October 18, 2023
Apparently, Victoria’s Secret didn’t want to become the Bud Light of lingerie. Can they still turn this around or is it too late?
Source: The Gateway Pundit