Victoria's (not so) Secret plans to launch in the UK…
Finally, the US’s favourite lingerie brand Victoria’s Secret, have announced plans to launch in the UK and Europe within the next few years. Martin Waters, Executive Vice President of the fashion and beauty group Limited, revealed plans to open flagship stores in London and other locations across the UK, stating that the UK was the ‘fashion capital of Europe’. And aren’t we delighted to hear it, statements like this definitely bode well for the future strength of the UK fashion retail industry.
Alongside stores in the UK, Limited also intend to run an ‘etail site for Victoria’s Secret from mainland Europe, operating in Euros, with a next day delivery service. It is thought that site is unlikely to be popular with British shoppers if it is only transactional in Euros, but the brand will remain popular if backed by flagship stores in the UK.
The undie market is worth a whooping £3.5bn, with M&S accounting for 26.2% of these sales, so they might be getting their knickers in a bit of twist (sorry that was awful) over the VS announcement. Victoria’s Secret can have a very powerful brand presence and have the capability of changing consumer spending habits, half of the shoppers at the flagship store in Manhattan are men!
Limited are also looking for a ‘best in continent’ partner to launch the cosmetic chain Bath & Body Works. Limted brand and Next previously tried to run the company in the UK in the early ’90s but failed. Breaking into the health and beauty arena is clearly a tricky business, although we are confident that Water’s, who until March worked as Boot’s retail international managing director, is an ideal person for the job.
Well it’s all super news, bring on the catwalk and Heidi Klum!