CHAP. 5 DEVELOPING A GLOBAL VISION

           Developing a global vision, allows a company to recognize and react to international marketing opportunities, use effective global marketing strategies, and be aware of threats from foreign competitors in all markets. Global marketing means marketing that targets markets throughout the world.

    Victoria's secret was founded in San Francisco, California, on June 12, 1977. The company's first store was located in Stanford Shopping Center in Palo Alto, California. By 1980, they grossed enough money to finance the expansion from a headquarter and warehouse to four new store locations and mail-order operation ( still in the San Francisco area ). In 1982, VS had grown to six stores, a 42 pages catalog and was grossing $6 million annually. Unfortunately, it headed for bankruptcy, and the founder, Raymond sold it for $1 million to Leslie Wexner, the creator of Limited Stores Inc.

             In 1983, Leslie Wexner decided to change VS target market and started focusing more on women. The store were redesigned to evoke 19th century England. To further their "European luxury" image, the company continued the practice that Raymond began: listing the company's headquarter on catalogs at a fake London address, with the real headquarter at Columbus, Ohio.

            In the five years after the purchase, Limited Brand had transformed a three store boutique into a

346 stores retailer. In 1986, VS was the only national chain of lingerie stores. The New York Times described it as a "highly visible leader".

              The company gained notoriety in the early 1990s, after it began to use supermodels ( Victoria's Secret Angels) in its advertising and fashion shows. VS Angels are top models coming from all over the world: Brazil, Germany, USA, Netherlands, Argentina, France, Denmark, Serbia, Czech Republic, Caiman Islands, Namibia, South Africa.

By 2006, VS already settled 1000 stores accross the USA.

           The brand turned to social networking in 2009, opening an official Facebook page, and later an official Twitter and Pinterest accounts. It also expanded its website to feature behind the scenes content about its catalog and commercial shoots, as well as its fashion shows.

             Up until the early 2000 management at VS actively decided not to expand outside the US. It is only in 2010 that the company announced its plan to expand into Canada. Twenty three stores (similar to those in the United States ) was opened by this period.Then, in November 2005, VS opened its first boutique in the UK at Heathrow Airport. This was followed in 2009, by several VS Travel and Tourism residing within airports outside of the US ( Schiphol International Airport, The Netherlands is included ). On July 24, 2012, VS opened its first store located at the Westfield Shopping Center, Stanford in London, then on New Bond street, on August 29, 2012. And through 2013 and 2014 stores continued to open across UK.

            In 2010, VS expanded with franchises internationally. The first franchise store opened in Venezuela, followed by other stores in the country, in Colombia and the first store in the Middle East in Kuwait. And one year later, the brand's first Carribean store opened.

Finally, the first Serbian Victoria's store opened its doors in January 2014, at the Nikola Tesla Airport in Belgrade. This is the first store opened in ex-Yugoslavia.

     According to L Brands Inc, it will put more pins in its map of the world this year, including taking VS to China. Martin Waters, the company's international president, told stock analyst recently the company's total stores outside the US reached 306 and he plans to add more this year. L Brand CEO Leslie Wexner once said he wanted Victoria's secret Beauty and accessories stores to be as "ubiquitous as Starbucks." 

"What sells here, sells there. What sells there, sells here," Waters said. "That's very good news in terms of simplicity of expanding the organization and the operation there.". 

          Furthermore, the international business is a healthy addition to L. Brands U.S business and a source for long-term growth. 

The operating principles that guide their international strategy are:

• Their store operations around the world are a mix of company-owned and franchised locations -- both upholding their highest brand standards with no visible difference to the customer.
• They work with a small number of world-class partners that deliver brand-right experiences through their refined lenses of local practices and customs.
• They embed L Brands leaders in-market to support the international operators through training, coaching, inspecting and coordination. 
• They take a methodical approach of test and learn. Then, they move purposefully and quickly when they're sure they've got it right. 

      
No matter its location, Victoria's secret provides the same goods and services to women and college girls. 

Stores outside of the U.S.

• Victoria's Secret
  (Franchised)
  8 
 
• Victoria's Secret Beauty & Accessories
  245 
 
• Victoria's Secret (inc PINK)
  (Company Owned)
  49
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302 stores as of Nov. 1, 2014