American lingerie giant Victoria’s Secret is making a significant return to the activewear market with the relaunch of its VSX line. Announced recently with a high-profile campaign featuring models Gigi Hadid and Paloma Elsesser, this move marks a renewed focus for a brand that has historically dominated the intimates space but lost its footing in activewear over recent years.
A decade ago, the activewear segment was a booming part of Victoria’s Secret’s portfolio, generating impressive annual sales that peaked at $500 million. However, as consumer preferences shifted and competition intensified, the company gradually shifted its focus away from this category. According to Greg Unis, brand president of Victoria’s Secret and Pink, the company’s market share in the sports bra sector significantly dwindled from 16% to just 4%. This decline was a wake-up call, prompting the retailer to reassess its strategy in the competitive landscape of activewear.
The return of VSX is part of a broader initiative aimed at diversifying and enriching Victoria’s Secret’s product offerings. As pointed out by Shawuan Johnson, the senior vice president of merchandising, the goal is to appeal to both the fashion-forward consumers and those looking for functional, performance-driven activewear. The new collection includes innovative pieces such as the VSX Sports Bra, leggings crafted from a proprietary fabric, and stylish items like trench coats and catsuits that blend fashion and athleticism.
Victoria’s Secret recognizes that reclaiming its foothold in the sports bra market is paramount. Johnson emphasized this point, stating that the company is well-positioned to leverage its existing strengths as a leader in the intimates category. Interestingly, data reveals that approximately 25% of Victoria’s Secret customers prefer a sports bra as their primary undergarment, reinforcing the demand and potential for growth in this subcategory. The launch of the Featherweight Max sports bra last fall serves as a clear indicator of this commitment, with the new VSX collection expanding upon this successful offering.
Innovation lies at the heart of the VSX relaunch. The brand has invested in developing its own materials technology to ensure that its products meet diverse performance needs, from high-impact workouts to lighter activities. This strategic investment reflects a clear understanding of the evolving expectations of today’s consumers who seek both style and performance in their activewear.
However, the timing of this relaunch could not be more critical for Victoria’s Secret. Despite still being a dominant player in the intimates sector, the company has faced declining sales figures over the past few years. In 2023, the retailer posted net sales of $6.2 billion, a slight drop from $6.3 billion the previous year and a significant decline from $7.4 billion in 2018. The appointment of Hillary Super as the new CEO signals a shift in leadership, aimed at revitalizing the brand and driving growth in a competitive marketplace.
Victoria’s Secret is not entering the activewear arena unchallenged. The company faces fierce competition not just from established giants like Nike and Lululemon, but also from rising brands such as Vuori and Alo Yoga. Each of these competitors has made a name for themselves by pushing boundaries in both performance and style, appealing to consumers who value functionality alongside aesthetics.
To effectively compete, Johnson noted that Victoria’s Secret plans to aggressively reenter the sports business through comprehensive marketing campaigns and a heightened in-store experience. The emphasis on an experiential shopping atmosphere may resonate well with health-conscious consumers seeking both quality and engagement when shopping for activewear.
In conclusion, as Victoria’s Secret reignites its activewear ambitions with the relaunch of VSX, the brand is clearly banking on innovative products and strategic marketing to win back market share. The landscape of activewear continues to evolve, and the company’s challenge will be to adapt swiftly and resonate with the modern consumer’s dynamic lifestyle. The next few months will be pivotal for Victoria’s Secret as it seeks not just to reclaim its place, but to redefine what it means to be a leader in the activewear space in today’s competitive market.
