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VICTORIA’S SECRET

BY: Rachael Kosier, Jessi Owens, Rebecca Wash and Gabby Genito

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TABLE OF CONTENTS About VS.............................................................................................................................................................. 3 Business Model................................................................................................................................................ 4 Mission..................................................................................................................................................................... 5 Values....................................................................................................................................................................... 6 Target Customer.......................................................................................................................................... 7 Scope....................................................................................................................................................................... 8 Swot.......................................................................................................................................................................... 9 Current Events................................................................................................................................................. 10 Pop-Up Shop.................................................................................................................................................... 12 Objectives.......................................................................................................................................................... 13 Location.................................................................................................................................................................. 14 Experience............................................................................................................................................................ 15 Ambiance.............................................................................................................................................................. 17 Marketing............................................................................................................................................................... 19 Merchandise........................................................................................................................................................ 22

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ABOUT VS LIMITED BRANDS FOUNDATION

VICTORIA’S SECRET/BATH & BODY WORKS/ PINK/ LA SENZA HENRI BENDEL/ WHITE BARN CANDLE CO./ CO BIGELOW Roy Raymond was a Graduate student from Stanford, Graduate School of Business. Raymond often felt rather embarrassed when it came to purchasing lingerie from a department store. Victoria’s Secret was born 1.. (1977) opened his store at Stanford Shopping Center, located in San Francisco, California. 2. Mail-order catalog 3. Opening of 3 additional Victoria’s Secret Stores. Each of these stores were created in hopes of making a man feel more comfortable when purchasing women’s lingerie. The stores aimed to be very inviting for men, with comforting décor and a friendly staff. (1982) Roy Raymond sold Victoria’s Secret to Leslie H. Wexner, the founder of The Limited Brands. E-commerce site was then launched: www.victoria’ssecret.com Victoria’s Secret aggressive marketing strategies, has made them the best known lingerie brand and has brought greater attention to the lingerie industry. •Victoria’s Secret Stores •Victoria’s Secret Catalog •Victoria’s Secret Fashion Show •Victoria’s Secret Social Media •(1986 ) Grace Nichols was hired with Victoria’s Secret •(1992) Grace Nichols becomes CEO for 14 years. •Under her leadership Victoria’s Secret became one of the top 10 recognized lingerie brands in the world.

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BUSINESS MODEL OMNI- CHANNEL RETAILER •1,017 mostly mall-based stores throughout the U.S. and Canada. •Victoria’s Secret Direct, which includes their •Website: www.victoriassecret.com •Victoria’s Secret Catalog •SOCIAL: Facebook,Twitter, Pinterest, Youtube, & Instagram. *reaches more than 390 million customers each year.

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MISSION and

share the same core values and use the same Mission Statement:

1. “The Limited Brands is a value-based company. Our mission is to make our customer feel sexy, sophisticated and forever young. We acknowledge our responsibility to deliver on this promise by providing high-quality, safe and effective products in all of our brands, including Victoria’s Secret, Bath & Body Works, PINK, Henri Bendel and La Senza.” 2. “Limited is committed to building a family of the world’s best fashion brands offering captivating customer experiences that drive long-term loyalty and sustained growth for our shareholders.” Our perception of what their Mission Statement would be: 3. “ We believe that Victoria’s Secret is committed to providing high-quality products for women who desire to feel special, sexy and glamorous. Victoria’s Secret is a strong advocate for empowering women.” As a retailer, The Limited Brands 1. Contract with manufacturers throughout the world to make their merchandise. 2. Vendors are selected based on their ability to meet The Limited Brands’ safety and quality standards and follow their strict ethical, labor and environmental standards. 3. Once the manufacturer is contracted, The Limited Brands’ internal experts work with the vendors to vertify compliance with their strict quality standards and sourcing policies on an ongoing basis.

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VALUES Victoria’s Secret just like their Parent Company are all Emphasis On Community driven by passion yet guided by values. Each guided by four core principles or values; since (1963): • Non-Profit Organizations • The Customer Rules!- Everything they do begins and ends with an insatiable drive to anticipate and fulfill their customer desires.

• Donated one million dollars to the hurricane Sandy Relief Fund: $500,000 to American Red Cross and $500,000 to the rebuilding efforts.

• Passion Leads to Success- They pursue excellence because they are emotionally, intellectually and spiritually engaged in their work; this makes their talents formidable and their results extraordinary.

• Their annual fashion show also raised a record-breaking amount in 2012. They were able to give 1.1 million dollars to nonprofit organizations. More than 50 donors, supporting organizations such as American Cancer Society, Dance 4 Life, Safe Horizon, World of Children and many more.

• Inclusion Makes us Stronger- They cherish their diversity because embracing others’ thoughts, experiences, hopes and dreams make their own more complete and connects them to their customer. • It Matters How We Play the Game- Doing what is right means following our beliefs—and the rules – even when no one is watching. Winning means nothing unless how they get there is fair, collaborative, rooted in our values and contributes to the greater good. Their values are at the heart of everything they do. They are the foundation for the Limited Way—their unique mindset at Limited brands that guides their behaviors and determines their results. This unique mindset has a connection to their history and a guide for their future.

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Involvement

• The parent company, The Limited Brands, is a huge supporter of the Susan G. Komen- Race for the Cure. They have participated for many years and the past two years received awards. In 2012 they were awarded first place in the Team Challenge with 7,721 participants involved in the Komen Columbus race.


TARGET CUSTOMER Broad Customer Base Victoria’s Secret has a variety of customers because it is such a widely known lingerie retailer Originally created with a target market of Men • Victoria’s Secret worked to make a male more comfortable when purchasing lingerie.

Today’s Target Customer • Middle class women • Ages 20-40 • Women that are comfortable in their skin and have the desire to feel sexy. • What makes Victoria’s Secret so successful is that it allows women to feel like star quality at a price that is still affordable. • There is no specific customer for Victoria’s Secret, because it reaches such a broad consumer base. - College age women (PINK)

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SCOPE Victoria’s Secret is one of the largest lingerie retailers in the United States and Canada. They drive their success from their innovative marketing strategies as well as both their Victoria’s Secret Catalog and their e-commerce site, victoriassecret.com. Their store base and Victoria’s Secret Direct sales have been growing steadily over the past years. Queen of cyberspace, the Victoria’s Secret website is considered one of the fastest growing and most profitable e-commerce destinations on the Internet. • WEB AND CATALOG sales rose 4 Percent to $1.56 billion in the last year. • REVENUE: at Victoria’s Secret’s 1000 plus stores rose 14 percent to $4.56 billion last year.

“The Sexiest Night On Television” The show, in its second decade, is the key to the Victoria’s Secret marketing machine. • Last year, the tv special received its highest rating since 2002, with 11.5 million viewers, who were mostly women. • Sales have risen 7 percent in the past three quarters to $4.33 billion after posting a record $6.1 billion in revenue for the year through Jan. 28.

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SWOT STRENGTHS • Well-known and Trusted Brand • Well-organized marketing strategies. • When the words Victoria’s Secret are said aloud, an image of a sexy but sophisticated, beautiful supermodel comes to mind. This is not by accident; Victoria’s Secret only uses models that are both sexy and classy in order to promote an overall positive image that is empowering to women. •The way they present themselves through Social Media: Facebook, Youtube channel, VS all access, Pinterest, and Twitter o Allows them to stay up to date with their customer wants and needs. o The e-commerce site & fashion show help by marketing and promoting their products to keep the customer informed and is another way to enhance their consumer base, making it another great facet of the Victoria’s Secret brand. OPPORTUNITIES & THREATS/WEAKNESSES • Room For Improvement • Victim of promoting as negative body image on women and young girls who want to achieve the Victoria’s Secret Angel “look”. • An opportunity to fix this would be branching out into a plus size category with plus size models, so there is truly a “body for everybody.” • The Victoria’s Secret website also carries apparel, and footwear which is not carried in stores. Instead of just carrying these product categories online the brand could increase their store square footage and offer the consumer the entire Victoria’s Secret experience. • In the future we would like to see Victoria’s Secret go global and not limit themselves to the US & Canada.

“BODY FOR EVERYBODY” 9


CURRENT EVENTS As prominent as The Victoria’s Secret brand is, it is not without controversy. • In 2012 “Sexy Little Geisha” outfit was brought to the public eye. Featured in the “Go East” Collection, it incorporated a floral print fabric, a removable obi belt, and matching chopsticks and fan. Critics claimed that the “Eastern-inspired” get up was offensive, reducing the culture to a mere stereotype of exotic sexuality. • In 2011, Victoria’s Secret was also under fire when they featured a Native American headdress in their annual fashion show. Model Karlie Kloss came strutting down the runway on November 7th wearing a leopard print outfit and turquoise jewelry, while donning a floor length Native American headdress with red, white and black feathers. Because the headdress symbolizes bravery and honor, and is normally worn during special occasions for men who have done brave deeds during battle, Native Americans were outraged to see it on a scantily dressed model. Victoria’s Secret publicly apologized. for upsetting viewers and did not show it during the runway’s TV broadcast. • In a more positive light, in November of 2012, Victoria’s Secret opened up its largest store to date in Herald Square, just in time for the holidays. Many of the Angels showed up to the premiere, including Adriana Lima, Candice Swanepoel, Lily Aldridge and Miranda Kerr, where they posed for pictures with the fans.

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CURRENT EVENTS •

Starting 2013 off right earlier in January, the Victoria’s Secret beauties Arlenis Sosa, Lindsay Ellingson, Doutzen Kroes, Behati Prinsloo and Erin Heatherton had a natural glow while cycling for a cancer research benefit at NYC’s Soul Cycle. Sporting their favorite VSX sport bras and equipped with specially curated playlist of hip-hop tunes, the Victoria’s Secret team participated in the actual cycle class available to ticket holders at prices ranging from $1,500-$2,500. Riders were also given the chance to bid on exclusive Victoria’s Secret items, with 100% of the proceeds going directly to Pelotonia and their fund-raising efforts for The Ohio State University Comprehensive Cancer CenterJames Cancer Hospital.

• In 2012, they were sued for a reported $15 million for breaching a previous contract in 2001 with their hosiery supplier Zephyr, and instead, selling knockoffs that looked similar in appearance. Knowingly buying cheap replicas, Victoria’s Secret used false advertising, selling the “knockoffs” while still using Zephyr product pictures.

• In 2011, it was revealed that the mill which supplies Victoria’s Secret with its “fair trade, organic cotton” that is found in most of its products, relies heavily on forced child labor.

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POP-UP SHOP Victoria’s Secret: VSX Sport In 2011 Victoria’s Secret launched VSX Sexy Sport. It’s a performance wear line that works as hard as you do. With their concentration on fit and your commitment to fitness, they make sure you look and feel great while you work out. Currently VSX is only located in select stores accross the United States. Our aim is to promote this brand and increase product sales with brand awareness.

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OBJECTIVES • To create interest for VSX Sport • Raise awareness for women’s cancers • Reach our target market • Build relationships with customers • Create a lifestyle of health and fitness for the Victoria’s Secret VSX customer • Create an overall unique experience for the customer enticing them to visit a VS venue. • Enhance female empowerment • HAVE FUN!!!!

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LIFESTYLE The active lifestyle has become a major part of the fashion industry. This trend is all about promoting health, fitness, and self-empowerment. Women are learning how to take care of their bodies, and how to keep their immunity up for the fast paced lifestyle. Victoria’s Secret has based their values on promoting women’s self-esteem and empowering them to feel like the sexy women that they are. This is why the active lifestyle fit perfectly with the ideals of the Victoria’s Secret customer.

This active trend also gives real women a healthy outlet for dealing with stresses of life. Whether it is work, family, or just life in general, women tend to focus on others and not leave time for themselves. By taking the time out of their busy day, women who embrace the active lifestyle find themselves feeling happier, more relaxed and, of course, sexier! It’s not about being skinny like a model; it’s about being strong

A new survey of 443 women ages 25-49 finds that those who work out regularly do not just do it to be healthy; they do it to feel like a more confident, energized and accomplished. In fact, nearly all active women—more than nine out of 10—say working out regularly makes them feel healthier (100 percent), stronger (98 percent) and more energized (94 percent). These same women report that regular workouts make them feel more confident and accomplished (86 percent) (Disabled World News(2010-08-19))

Through VSX, Victoria’s Secret aims to promote strong, healthy, confident women that look just as sexy as they feel. The active lifestyle is all about women taking control and bettering themselves. With diet plans like Weight Watchers and Jenny Craig who promote real women, it’s no longer a priority to be skinny. It’s all about the health factor. Mal-nourishment has given way to nutritionally balanced diet plans that focus on healthy lifestyles.

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LIFESTYLE VSX in the Community Beginning 2013 VSX has made strides to promote the spring 2013 line even further with their launch in the newly remodelded herald square store. Meeting with fans, hosting a kick-boxing class. As well as doing a spinning class to raise money for Charities. Due to these efforts that VSX has made, we feel that a pop up shop at a women’s marathon promoting the funding of women’s cancers was the next best move for their brand.

VSX has created a lifestyle around your fitness goals. They want to keep you feeling motivated and a part of a community through their different venues of social media. - #ownit- share your progress through Instagram updates, or tweet how well you’ve been doing with your workouts to motivate and challenge other VSX fans. - Listen to the Own It playlist while you workout to keep you stimulated during your workout - Text VSXOWNIT to get Angel Alerts to keep you on track and motivational texts throughout the week. Women are also built differently from men and need more out of their active wear than men do. When buying active wear they have to think about protection and support in a sports bra, and the fit in an athletic pant. With so many technological advances in textiles we now have options for what type of fit and whether the fabric cools or keeps the body warm.

Lulu Lemon vs. VSX Sexy Sport Lulu lemon -Brand mainly focused on the Yoga lifestyle 119 stores across the U.S. -Best-known product: Groove Pant, $98, made of Luon, the label’s signature sweat-wicking fabric. -All of Lulu Lemon’s products, are tagged with a fancy “a” symbol that looks similar to the Greek letter omega. -Pay for their staff members to attend yoga classes and encourage psychical activity in their daily lives -Many Lulu Lemon offer free in-store yoga classes best-known product: Groove Pant, $98, made of Luon, the label’s signature sweat-wicking fabric. -All of Lulu Lemon’s products, are tagged with a fancy “a” symbol that looks similar to the Greek letter omega. -Revenue: brought in $292.3 million in the first 10 months of 2009, up 17 percent, from $249.6 million in the year-prior period.

“It’s important to feel sexy and to look good when we workout. What we wear inspires us and when we dress up for the gym, yoga, spin or Zumba class, we really give it our all. Also, workout clothes have to fit well and be functional. VSX fits the bill when it comes to great active wear–the material is great, the colors are awesome and bright, the styles are super cute and the prices were 1/2 that of Lulu Lemon. One of the best things about the sports bras, is they give you a great lift and they come in actual bra sizes so you can really get the right fit.” Says Kristin McGee a yoga and Pilates instructor.

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LOCATION EIF Revlon Run/Walk for Women Location: Central Park, New York, New York Date: May 4, 2013 Length: 2.7 Miles EIF Revlon Run/Walk for Women, is an annual event that happens in New York City as well as Los Angeles. It is a walk for women’s cancer. “The nationally acclaimed Entertainment Industry Foundation Revlon Run/Walk For Women has touched the lives of millions of people through increased awareness, education, research, and diagnostic treatment services.” (EIF Revlon Walk/Run) This walk continues to gather men, women and children of all races and ages to fight against womens cancers. Every donation goes to fight for women’s cancers.

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EXPERIENCE The VSX pop-up shop will showcase a variety of experiences for the VSX customer and participants of the race. The pop up shop is not exclusive to race participants. The giveaways, however will only be handed out to participants of the race.

Experience for Participants: -At the beginning of the race participants will be able to meet with the Victoria’s Secret Angels and talk to them a little bit about living a healthy lifestyle and feeling sexy at the same time. - Participants will also be given two separate giveaways, each will receive a watter bottle with a peel back promotion as well as sweat bands to utilize in the race itself. The goal with this is to promote the VSX Sport brand and health at the same time. - Participants will also be completing the race with the Angels. - When the race is complete, participants will each receive a yoga mat and gym bag bringing their attention back to the pop up shop itself promoting visitation. - Once participants complete the race they will have the opportunity to come to our pop up shop, and enjoy a nice Naked smoothie in the lounge area, while they cool off. - Attached to this will be the retail space where staff will be hands on in assisting customers giving them the full Victoria’s Secret store experience. - Finally, customers and participants may engage in miniclasses given by the Angels in order to continue the promotion of a healthy lifestyle. Keeping the participants motivated and positive in their fight against womens cancers.

- Our goal is to make the participants and customers feel as part of this brand as possible. With the use of promotions and integration of the Angels in the race, we really hope to create a unique experience that would not be offered anywhere else.

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EXPERIENCE By providing a friendly staff, customers will be greeted upon entering the shop, whether it is in the retail space or lounge area. The staff and Angels will aid in informing customers about the merchandise and promoting a healthy lifestyle by inviting them to participate in the mini classes. The lounge area will primarily be a relaxing space for customer to interact with the Angels and other people, enjoying time together and the Naked Juice bar. The retail space is designed to create a friendly and interactive atmosphere, so customers can get the most information about the merchandise without searching around. It will be at the palm of their hands. - We will collaborate with Naked Juice. There will be an exclusive VSX Naked bottle at the juice bar, located in the lounge area. This will promote health for the VSX customer.

- On the side of the tent, we will have a special area dedicated to gym classes and workouts. Here, the VS Angels will be working out with the merchandise and equipment for sale. Customers can participate in the mini classes with the Angels.

-The store will be technologically stimulating with virtual fitting rooms in place of typical fitting rooms. We felt that most people would not want to try on clean clothes after a walk/run. Customers can go to the virtual fitting room, which will resemble a mirror, and see what the merchandise will look like on them without actually having to try on the merchandise.

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EXPERIENCE - We will have employees walking around to measure customers. This way customers know their exact measurement before purchasing products.

-The VS Angels will participate in the race, promoting the brand, by wearing merchandise as well as excite participants to come to the shop. - We will also have an exclusive sports bra for sale in support of the race.

- The music that will be played is a Victoria’s Secret play list that is on Spotify. It will be an assortment of upbeat and relaxing music to enhance our goals of prolonged stay.

-Merchandise will be accessible, but will only have sample pieces out. Customers can ask for their size if they want to make a purchase. If they want to try it on, all they need to know is the style number.

- At the beginning and end of the race we will hand out giveaways, with promotions and free items to entice visitation to the shop. - We want to integrate mobile devices and tablets to effectively and quickly take orders for customer. Attached to these will be the Square Sales device to simplify POS.

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AMBIANCE - Pink tent top with white back drop and pink uplighting. - Overall lighting will be bright white in chandeliers. - We aim to have a modern aesthetic with Victorian accents. We want this shop to be inviting, cheerful and keep the momentum of the guest going. - We want a relaxing feel in the lounge area. - We want the overall shop to promote prolonged stay.

Retail Space Merchandise

Virtual Fitting Area

Resister Area

Merchandise

Merchandise

Lounge Area

Virtual Fitting Area

Merchandise

Merchandise

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Merchandise

Fitting Room

Register

Sitting Area


AMBIANCE Lounge Space

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MARKETING Give-Aways

- Giveaways will be handed out at the beginning and end of the race promoting brand awareness. - Beginning of race: -Water bottle with peel back label; underneath a 20 percent off coupon, enticing participants to visit our shop - Headband and Sweatband, with VSX logo. -End of race: - Exculsive VSX gym bag with yoga mat, created just for EIF Revlon Walk/Run -Promoting race and VSX shop on their website and social media.

YOGA MAT GIVEAWAY -If participants at the race use hashtag VSX (#VSX) they will receive 20 percent off their purchase. -Emails will be sent out to participants informing them of the presence of our shop at the race.

PE

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E I F INDUSTRY FOUNDATION

ENTERTAINMENT

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MARKETING

NYC May 4

Victoria’s Secret is teaming up with

to promote VSX

Check out our newest pop-up shop, located at the end of the EIF Revlon Walk/Run for Women. In Central Park, NewYork! Participate in the race and recieve 20% off by tweeting #VSX!

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MARKETING

IPHONE PRESENCE

VS X SPORT E I F ENTERTAINMENT INDUSTRY FOUNDATION

VS X SPORT

TM

May 4

.

Shop the Collection Now

JOIN US! VS X SPORT E I F ENTERTAINMENT INDUSTRY FOUNDATION

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New York


MERCHANDISE Apparel Sports Bras- All Support Levels Maximum, Medium, Minimum -Victoria’s Secret angel sport bra -Victoria’s Secret supermodel sport bra -Incredible by Victoria’s Secret sport bra -Supermodel Cami Sport bra Training Tee (All Colors)

Hangtag

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Studio Tank (All Colors) Y-Back Training Tank (All Colors) VS Knockout Jacket (All Colors) Supermodel pant--S-L Bootcut leg Medium Rise Supermodel capri--XS-L Medium Rise VS Knockout Tight --XS-L Medium Rise Second Skin Fit Inside draw string cord VS Knockout crop--XS-L Second Skin Fit VS Runway Pant--XS-L Straight Leg Low Rise

Accessories No-Show Thong/Hiphugger Sport Panty --XS-L VSX Sport Socks 3 pack (All Colors) Piped Headband (blue and pink) Headband (All Colors and Prints) Polar Water Bottle Everlast Boxing glove VSX Sport Zipper Wristband (pink and black) VSX Sport flip flop

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REFERENCES - The Limited Brands 10K - EIF Revlon Walk/Run Website - CNN - Victoriassecret.com -Victoriassecretallaccess.com -VSX Victoria’s Secret Event, jan. 17, 2013, c2013 Kristen Mcgee, http://kristinmcgee.com/vsx-victorias-secret-event (date accessed 3-10-13) - Lulu lemon the next nike? Jan. 22, 2010, c2013 Microsoft, http://money.ca.msn.com/investing/gallery/gallery.aspx?cp-documentid=23296722&page=5 (date accessed 3-10-13) -http://www.vspressroom.com/vsx-sport-2013 (date accessed 3-10-13

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VS Pop-Up Shop