Victoria's Secret dominated the lingerie industry for close to three decades and stood tall and strong all through the years making billions of dollars and hiring attractive models to walk the ramp. Everything was wonderland for the lingerie giant and it seemed like their reign would never come to an end.
VS was seen as not changing in keeping with the times and pushing their "perfect body" theory a little too far at a time when women are content with their bodies and are against unrealistic definitions of what a woman's body should look like. Since 2016, the company has seen a dip in sales and things became worse when they had to cancel their iconic Victoria's Secret fashion show in 2019 as the event, though watched globally, stopped generating sales as it used to.
Victoria's Secret closes 8 stores in Canada in just 2 months
This year, Victoria's Secret has closed eight of its stores in Canada in a span of just two months, and will close two more by the end of the year. While the word was out in the market that the brand was shutting stores due to a dip in sales, a spokesperson for the brand said they were closed due to ''natural lease expirations''.
Experts say closing stores will not hurt Victoria's Secret
Retail experts opine that even though Victoria's Secret has been on a store closing spree in Canada, their brand image and sales will not take a hit as they have around 1,600 stores all around the world and closing 10 stores will not dent their cash register. The brand is looking out for new ways to connect with women and they're soon set to launch a new marketing strategy to bounce back in the market.
