Food
Victoria’s Secret – which accounts for more than one third of the US lingerie market – says swimsuit sales are growing at twice the rate of its overall growth.
In the first quarter of this year – not even summer season in the US – swimsuit sales soared 10 per cent, while the brand’s overall sales grew just five per cent. Swimwear was introduced in 2002 but only in the last few years has the range been widely stocked as a core line across the brand’s more than 1000 company-owned stores.
CEO Sharen Jester Turney told an investor conference call that swimwear is not the only category driving growth.
“We’re very excited and very pleased with our sport business, especially in our bra category,” she said.
“That’s where we’ve been putting a lot of our emphasis and seeing tremendous growth.”
In fact, sportswear was only on the company’s radar just a couple of years ago, yet sales are already nearing $250 million annually.
Analysts predict the brand could eventually grow sportswear sales to $1 billion dollars (the brand’s total 2012 sales were more than $6 billion), with Victoria’s Secret set to launch its Sport offer into another 150 stores in the current quarter.
