Dive into Victoria's Secret's rebranding saga, uncovering big missteps and essential lessons for marketers in the age of authenticity and inclusion.
The Gist
- Plummeting sales. Victoria’s Secret sees big drop in sales following inclusive rebrand.
- Loyalist lapse. The company’s rebrand sidelines core fans, stirring industry buzz.
Victoria’s Secret holds an iconic position in the fashion world. At its peak, the Victoria’s Secret fashion show reached more than 12 million viewers across the globe and featured supermodel angels like Naomi Campbell, Heidi Klum, Tyra Banks and Gigi Hadid.
Yet in 2021, things began to shift. Consumers, especially young ones, began to speak out about the importance of inclusion and diversity when it came to how and where they spent their money. That year, two out of three Americans said their social values shaped their shopping choices. And 59% of consumers polled said they’re more loyal to brands that stand for diversity and inclusion in their advertising.
Victoria’s Secret made an important decision — to rebrand its image as one that supports all women.
Inside the Victoria’s Secret Rebrand
What did Victoria’s Secret’s rebrand look like? To start, it included an entirely new executive team, along with a newly formed board of directors where all but one seat would be filled by women.
Victoria’s Secret also introduced the “VS Collective,” a group of women who are featured for their unique backgrounds, interests and passions. The group includes professional soccer player and LGBTQIA+ activist Megan Rapinoe, body advocate Paloma Elsesser and actor and entrepreneur Priyanka Chopra Jonas.
This transformation centers on listening to customers and putting them at the heart of what the company does, a Victoria’s Secret spokesperson told CMSWire. “We recognize our transformation is a journey and will take time but are proud of our progress.”
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A $1B Decline in Sales
Victoria’s Secret generated some buzz over its new inclusive look, but it didn’t translate into sales. With customers turning to other popular lingerie brands like Savage X Fenty and Thirdlove, the company projects only $6.2 billion in sales this year — down more than $1 billion since 2020.
With revenue on the line, Victoria’s Secret decided it was time to pivot. Though that doesn’t necessarily mean shifting away from inclusivity.
“Our focus on inclusion and expanding our definition of sexy are not tactics or a temporary position,” said the VS spokesperson. “Our progress has been noticed, and we have full confidence that we are on the right course as we deliver on our promise to welcome, celebrate and champion women and their experiences.”
Learning Opportunities
Still, said Victoria’s Secret CEO Martin Waters in a presentation earlier this month, “Despite everyone’s best endeavours, it’s not been enough to carry the day.” Going forward, the company plans to expand its investments into new categories (such as activewear), update its 1,000+ stores and open 400 new locations outside of North America.
3 Lessons for Marketers
Ultimately, many marketers and consumers consider the inclusive rebrand a failure, with three distinct reasons standing out.
1. Authenticity Is Everything
The Victoria’s Secret rebrand lacked substance because it didn’t appear to be rooted in anything authentic — almost like it was developed in a vacuum, said Alan Tyldesley, luxury marketing director and brand building expert. “They were saying what they thought people wanted to hear but because they didn't have any proof-points to show they were walking the walk as well as talking the talk, the rebrand didn't feel credible,” he explained.
Authenticity, Tyldesley continued, equals credibility. “Make sure your new marketing and communication strategy is built from a place of authenticity, and that it includes tangible proof-points about your business to build credibility in what you’re saying.”
2. Think About Timing
Another mistake Victoria’s Secret made, according to Tyldesley, was timing. “Instead of evolving the brand over time, they did nothing in response to changing attitudes in society, so when they finally did rebrand (without acknowledgement of their lateness) all it did was to highlight the dissonance.”
Instead, he added, businesses can see success by retaining elements of their brand DNA that still resonate and building new elements on top. “It’s safer because you’re less likely to alienate your existing customers, and you’ll be able to build trust much quicker.”
3. Don’t Alienate Your Base
Ultimately, said business consultant Harriet Wright, the company abandoned its core aesthetic and customers. “Victoria’s Secret deserted their own USP (unique selling point) to accommodate the complaints of individuals who were not their customers in the first place. Since the rebrand was so far away from the brand identity Victoria’s Secret has accumulated over the years, it is no surprise it has been depicted as performative.”
Wright said marketers need to listen to their existing customers and prospective customers, and then introduce small changes that still align with the brand’s current identity. “This way, a brand can maintain their authenticity by staying true to their existing customers, whilst also showing they are adapting to changing customer wants and needs.”
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Returning to Roots vs. Embracing Evolution
The VS rebranding saga serves as (yet another) reminder for marketers that it's important and even necessary to adapt to cultural shifts. But without authenticity, thoughtful timing and a keen understanding of your core audience, your efforts might go to waste.
“Trying to please everyone will leave you pleasing nobody,” said Wright. “Going forward I predict the only way for Victoria’s Secret to claw back their old customers (or at least some of) is to revert back to their old branding aesthetic.”
