The company's NEW goal is to "improve profitability".C@LAg said:
Victoria's Secret ditches prioritizing wokeness over 'sexiness' after sales drop
https://nypost.com/2023/10/18/victorias-secret-ditches-wokeness-over-sexiness-after-sales-drop/
Lingerie chain Victoria's Secret is reportedly ditching its woke, feminist makeover of recent years as it hasn't translated to business success.
Since the brand decided to move away from its "hyper-sexualized" image as BusinessOfFashion.com described it in a recent article Victoria's Secret has seen a significant revenue drop.
As such, it has looked to revamp itself and bring back "sexiness," the outlet noted in a piece that was also published by editorial partner CNN on Tuesday.
Cathaleen Chen reported that the brand's efforts to promote inclusivity which included making LGBTQ pro women's soccer player and outspoken leftist Megan Rapinoe, as well as a transgender woman, brand spokesmodels and getting rid of its famous "Angels" supermodels gained "favorable reviews from online critics [but] never translated into sales."
According to the numbers, the lingerie brand's projected revenue for 2023 is $6.2 billion, which is 5% lower than it was last year, and even lower than 2020, when the brand's revenue was $7.5 billion.
Chief executive Martin Waters also reportedly admitted that the inclusivity initiatives were not profitable for the company, stating, "Despite everyone's best endeavors, it's not been enough to carry the day."
According to BusinessOfFashion, the company's new goal is to "Improve profitability and cross back over $7 billion in annual sales." To meet this objective, the brand plans to roll out activewear and swimwear, update its existing stores and open up 400 new ones outside the United States.
Clown world.