Fast fashion future for Victoria’s Secret
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The stunning global success of European fast fashion experts Zara and H&M is promoting a shift in strategy for what is possibly the world’s best known lingerie brand, Victoria’s Secret.
According to a report by Business Insider, Victoria’s Secret is getting into fast fashion.
The US-based brand revealed in a conference call with analysts the company plans to hasten its design and re-stocking process
“Basically almost all of our panties today are on some kind of speed program,” CEO Sharen Turneysaid in the conference call.
“And those speed programs allow us to read the business on a Monday and be back in stock in the stores within 15 to 25 days.”
It also wants to shorten the timeline between design and shelf, the report said.
“We’ve already taken probably four months out of our development time and believe there is probably another two months to continue to work in,” Turney said.
Questions & Answers
Q.Why is Victoria's Secret changing its strategy?
Why is Victoria's Secret changing its strategy?
The brand is shifting its approach due to the significant global success achieved by European fast fashion retailers like Zara and H&M, prompting a move towards a similar model in lingerie.
Q.What specific changes are Victoria's Secret making to its operations?
What specific changes are Victoria's Secret making to its operations?
Victoria's Secret plans to accelerate its design and re-stocking processes. They are implementing 'speed programs' for panties to restock within 15-25 days and aim to shorten the overall design-to-shelf timeline.
Q.How much development time has Victoria's Secret already saved?
How much development time has Victoria's Secret already saved?
The company has already reduced its development time by approximately four months. CEO Sharen Turney also believes there is potential to cut a further two months from this timeline.
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