(Getty Images/Jamie McCarthy)
Victoria's Secret has a stronghold on the lingerie market.
Its store sales this year amassed over $6.1 billion.
But one expert is saying that Victoria's Secret's explosive success might start tumbling because of the ever-important demographic of millennials and their changing attitudes.
Retail analyst Nikki Baird of research firm RSR recently wrote on Forbes that she thinks that "Victoria's Secret may be next" when it comes to brands that millennials will ultimately dethrone.
She wrote that she "can’t help but think the retailer is dangerously vulnerable to the same issues that took down the former brand powerhouse that was Abercrombie & Fitch." Abercrombie & Fitch has been working to revive sales recently.
Baird explains how many retailers are trying to cater to millennials to save themselves, but millennials' preferences may not fall in line with what Victoria's Secret stands for. Further, Baird points to three specific reasons why millennials might spurn Victoria's Secret:
Millennials dislike logos, and Victoria's Secret sells lots of them.
(By TheeErin on Flickr)
In fact, even Abercrombie & Fitch has been working voraciously to minimize logos; it appears to be a part of its rebranding efforts. Logos are still present, but they are less abundant than they were previously. (Oddly, the sector that gets a boost from logos is the luxury category.)
To Victoria's Secret's benefit, the company's core products are worn underneath clothing, which could potentially save it from this possible burden. However, Baird points to its younger sister brand, PINK, which sells lots of clothing emblazoned with the PINK logo.
Victoria's Secret's models might be losing their appeal.
(AP)
"The product images on their website tend to reinforce a very specific body image that is not representative of the 'average' woman’s form, and frankly, are only marginally inclusionary from a diversity perspective too," Baird writes.
This has arguably been one of the biggest problems plaguing Victoria's Secret. Body positivity is on the rise, and it has even caused the dieting industry to struggle. Victoria's Secret's entire brand positioning is based on ideals, rather than accepting the status quo — which is incongruent with what young consumers want.
The brand has faced backlash for its idealism. Its "Perfect Body" campaign received so much negative heat that the retailer ultimately had to pull the campaign.
Separately, brands that eschew norms have thrived. For instance, Lane Bryant has become practically synonymous with its "I'm No Angel" campaign, which sent a clear message to Victoria's Secret's top-tier models — or perhaps more importantly, to those who will never be said top-tier models: that they're beautiful, too.