Given how much flak it's received over its sexist branding, alleged mistreatment of model and intense focus on smaller sizing, has Victoria's Secret (VSCO ) finally read the room — or planted flat yet again?
Over the last five years, the lingerie brand has been heavily criticized for selling an outdated vision of "sexy" that excludes larger and disabled bodies as well oversexualizes thin ones.
Despite scrapping its Angel's runway show in 2019 and playing around with body-positive advertising, the brand has struggled to craft a new image as a progressive and inclusive company.
That's why the latest launch — an underwear brand for preteen girls — is a particularly surprising choice on its so-called turnaround mission.
Victoria's Secret For Preteen Girls? Meet Happy Nation
Known as Happy Nation, the latest brand targeting preteen girls was hinted at during the company's March 3 earnings call.
"This optimistic inclusive brand will fill a void in the teen market, bringing undies, first bras, comfy clothing and body care that parents and tweens can feel good about," CEO Martin Waters told investors.
In that call, the company also reported income that fell from $282 million to $246 million in the fourth fiscal quarter.
The brand is slated to launch exclusively online in April but Victoria's Secret did not divulge much other detail about what kind of garments it would sell — Waters said that investors can "expect to hear more about that" in April.
Happy Nation
Why Is This A Rocky Undertaking?
While Victoria's Secret shares are up 18.78% year-over-year at $50.48, they fell by 10% since the start of January.
Since going public in August 2021, Victoria's Secret has seen some successes but also struggled to craft a new image. Customers who criticized it are not convinced it has wholly taken on a new direction, while those who sought it out for its traditionally "sexy' style may be less interested in its new direction.
While the new preteen line is likely to promote comfort and loving oneself "as one is" (see above marketing material showing girls with determined faces sitting in nature), this type of rebranding does little to disassociate Victoria's Secret from being an ultra-sexualized product.
It also simply may not be enough at a time of wars, pandemics and other sociopolitical crises, with the company blaming inflation and "global unrest" for the downbeat outlook it gives the upcoming quarter.
"It’s a natural adjacency for us," Waters said of Happy Nation. "And we’re also leveraging our knowledge and beauty to create a really young beauty business in Happy Nation that we think could be incredibly exciting."
Promising women "all-day comfort," another new Victoria's Secret brand known as Love Cloud dropped two weeks ago.
