As the weather gets warmer and our skin gets tanner it could only mean that summer is right around the corner. I can almost guarantee that we've all been saving up to buy cute, new bathing suits to show off on the beach in a few weeks.
For many of us, Victoria's Secret is our one-stop-shop in our annual bikini search. But this trip to the mall, you might want to stock up for next year too because prepare to get your heart broken. VS authorities have recently announced that they will be cutting certain categories of merchandise, including their swimwear line.
At one point, the swimwear line brought in nearly $500 million in sales a year. Recently VS swim suits haven't been as big of a hit as many of us may have thought, considering they began the Victoria's Secret "Swim Special" on CBS just last year. The popularity and sales within the line has unexpectedly decreased significantly over time. Now, the company hopes to enhance growth in their lingerie, beauty and PINK brand inventory.
In addition, the company plans to focus on other, more seemingly profitable lines like their new VS Sport fitness line, which has brought the company roughly $250 million annually in just the past two years. It is anticipated that this line could eventually rise to $1 billion. It will begin to take over the space of their swim suits in stores and online. This line features a ton of cute shorts, cropped and full-length leggings, sports bras, athletic tanks, gym bags, head bands, water bottles and much more!
It doesn't stop there, though. It looks like there will be no more waiting around for the next VS catalogue to get delivered to your house every week because L Brands, the parent company of Victoria's Secret, has decided to do away with their catalogue too. This big move could potentially save the company $100 million a year.
So no more agonizing over your summer body every time you look at the cover of the magazine sitting on your night stand to see a shimmering set of abs. By doing this, the company will be focusing heavily on their online advertising which may be a smart move with the increasing popularity of the internet and social web.
These changes are being made to potentially stimulate growth and reinforce the business as a whole in the long run for L Brands and Victoria's Secret. Hopefully, these efforts will make for a better and stronger business altogether.
But let's get back to the main focus here — the swimwear. Have no fear. I may have forgot to mention that Victoria's Secret's PINK brand is reportedly not going to be ridding their stores of swimwear. So, there's really no need to have a complete bathing suit meltdown quite yet — save that for the dressing room.
