CHAP. 11 DEVELOPING AND MANAGING PRODUCT

Victoria's secret, besides being the first retailer of lingerie in US, is also producing fragrances, make up, clothing, sportswear, swimwear and many other accessories. Every month, a new product is launched at VS, whether it is lingerie or beauty products. For example, most recently it launched FABULOUS Eau de Parfum a floral fragrance

that already accumulated 5 stars in reviews and VERY SEXY NOW Eau de Parfum a fruity fragrance. It also created a bombshell day every first Saturday of May in which a couple of new products are released in stores. This year, it was the second edition of the bombshell day, the company chose to produce more items in its VERY SEXY collection. The VERY SEXY collection provides push up bras, laces, balconets and babydolls. At the bombshell day, VS also make promotions such as buy one bra and the second is 50% discount. 

 

Every time a new product is launched, Victoria's secret goal is to educate its 25-30000 employees in sales associates and stores to communicate that newest to the costumers, while still meeting their needs in terms of what they are coming in for. The company focuses on conversion and how to convert customers, using that as the metric to success - The number of customers that walk through the door are converted to purchases. 

In terms of strategy VS is reaped huge benefits from its lingerie products while expanding into new products. This has allowed VS to gain a stronger name in the lingerie industry by also selling clothes. At the present time without any real competitors, there is no doubt VS has established itself as the standard in the lingerie business. Being the standard has allowed them to enter new industries developing new products with much success. VS is definitely at its maturity stage due to its leader place on the market.