The Return of Swimwear: Victoria’s Secret Unveils Its Latest Collection Online
The new swimwear line is a bid to win back market share.
It’s here: Victoria’s Secret’s swimsuit line have arrived online, just in time for spring.
Bikini-clad Angels can now be found on the Victoria’s Secret web site. The lingeriecompany unveiled the return of its much-awaited bathing suit collection on Monday. The 2019 swimwear collection by the retailer features both Victoria’s Secret-branded swimwear and suits by other designers, such as Seafolly, Banana Moon, Lascana and La Blanca.
“Due to overwhelming demand, the brand has curated a limited assortment of the popular swimwear on its e-commerce platform for spring featuring the best brands, silhouettes and trends of the season,” a statement from the company said.
Victoria’s Secret eliminated its swimwear line in spring 2006 in an effort to focus on its core lingerie business. But shifting consumer tastes and a movement toward brands that promote inclusivity, such as American Eagle Outfitters’ Aerie, as well as start-ups like Adore Me and ThirdLove, have caused Victoria’s Secret to lose market share.
Shares of L Brands, Victoria’s Secret’s parent company, are down nearly 28 percent year-over-year. Last quarter, the company, which includes Bath & Body Works and Pink, fell short on net income, at $595.2 million, down from more than $600 million for the same period last year. In fact, almost all of the company’s gains came from its Bath & Body business.
Even the annual fashion show — once regarded as one of the most exclusive fashionevents of the year — has done little to attract a new generation of Victoria’s Secret fans. Television viewership for the New York event declined compared with previous years.
L Brands has done a number of things recently to help revive the Victoria’s Secret brand. They include shedding unprofitable businesses like La Senza and Henri Bendel from the portfolio, adding new chief executive officer John Mehas to the c-suite, reevaluating the company’s store fleet and offering upscale designers, like French brand Livy, at select Victoria’s Secret stores.
Despite the challenges, Victoria’s Secret is still the leader in the intimates space. Last year, the company had more than $5.6 billion in revenues from its core lingerie brand.
The move back into swimwear is an attempt to win back some of the lost market share in what had been a $525 million business for the retailer. Victoria’s Secret also said it was now selling swim accessories on its web site, such as sunglasses.