Victoria’s Secret is one of the world’s most well-known and top American brands of intimate specialty retailers that offers a wide range of fashion-inspired and trendy lingerie for teenage girls to mature older women. In 2021, the market for women’s nightgowns and undergarments was estimated to be worth 74.5 billion US dollars, which is a huge figure and predicts that women of any age are very conscious about their lingerie. Here we will see about Victoria’s Secret Mission And Vision Statement Analysis.
Victoria’s Secret also specializes in and is well known for creating prestigious body care products of the highest quality and gaining international recognition for their products. The brand is committed to its customers’ needs, tastes, and wants and always tries to satisfy them.
Victoria’s Secret is one of the top brands for women’s lingerie in the US and provides a lot of options for lingerie for casual use, swimming, yoga, and sports. The brand’s mission statement shows that it is focused on manufacturing high-quality products that meet the needs of customers and promote customer loyalty and the growth of its shareholders. The vision statement focused on giving customers a good experience with their products and on enhancing and maintaining the dividend growth of their shareholders.
Victoria Secret:
Victoria’s Secret is one of the largest American brands and offers a wide range of the latest and most fashion-inspired collections, including its renowned lingerie, clothing, and casual sleepwear, as well as lovely fragrances and body care products that have not only won awards but also won the hearts of customers.
With more than 25,000 mostly female employees and approximately 1,350 retail locations worldwide, Victoria’s Secret has the largest team of specially trained lingerie experts in the world. Victoria’s Secret is dedicated to empowering women all over the world through experiences and products that support fashion in their lifelong journeys.
Products by Victoria’s Secret:
- All kinds of trendy lingerie, including swimming and sports lingerie,
- Other clothing includes tops and bottoms for yoga and workouts.
- Sleep wears.
- Slippers.
- Body mist.
- Deodorants.
- Lotions.
- Wash and scrub.
- Lip glosses.
- Bags include shoulder bags, crossbody bags, casual bags, travel bags, and makeup bags.
- Fragrance candles.
- Keychains.
Its PINK collection offered the following products:
- Lingeries.
- Sweatshirts and pants
- T-shirts and hoodies
- Leggings.
- A collection of all the clothing stuff for workouts, sports, and yoga
- Loose and tight sleepwear
- Slippers and socks
- Caps.
- Casual Shoes.
- Bags.
- Sunglasses.
- Water Bottles.
- Deodorants, mists, body scrubs, moisturizers, perfumes, and other beauty products
Mission Statement Analysis:
Victoria’s Secret, their mission statement is “the brand is committed to building a family of the world’s best fashion brands, offering captivating customer experiences that drive long-term loyalty and deliver sustained growth for our shareholders” so, we divided the mission statement of the brand Victoria’s Secret into 3 main parts.
1. Building a strong family with customers.
2. Providing customers with interesting and enjoyable experiences to increase customer loyalty to the brand.
3. Maximize the shareholder’s return.
The brand focused on expanding the retail chain and building a strong family of the world’s best fashion brands in the first part, as it offered various latest and trendy fashion products for women.
The brand focused on providing the best and most amazing experiences for customers in the second part of the mission statement, giving their needs and wants top priority and always trying to satisfy them by providing top-quality and trendy fashion products. Also in the second part, Victoria’s Secret focused on customer loyalty. They want to make their customers loyal to the brand, and that’s only possible when the customer experience with the brand is excellent and the products meet the needs of customers. This leads to the long-term loyalty of customers.
In the 3rd part of the mission statement, the brand is focusing on increasing the wealth of its shareholders. The brand not only prioritizes its customers but also gives priority to its shareholders because they are the real owners, and the brand is focused on maximizing shareholder trust and also wants to make growth in the return of shareholders.
Vision Statement Analysis:
The vision statement of Victoria’s Secret is “captivating customer experiences that drive long-term loyalty and deliver sustained growth for our shareholders,” which has a deep meaning. We divided the vision statement of Victoria’s Secret into three main parts:
1. Customer experiences
2: Drive long-term loyalty.
3. Growth of shareholders
1. Customer experiences:
As all businesses know, the customer is king, so the priority of every business is to identify the needs of customers and then try to provide them with maximum satisfaction with your product.
The vision statement of Victoria’s Secret shows that the brand is focusing on the demands of its target audience, which are mostly girls and women. The company then creates high-quality, trendy, and current fashion products, ranging from lingerie to key chains, that perfectly meet the customer’s demand and provide a one-of-a-kind experience with their high-quality products.
2: Drive long-term loyalty
Loyal customers are like angels of happiness for businesses, and maintaining your customers’ loyalty is not an easy task. Victoria’s Secret’s secret vision statement mentioned that the brand not only focuses on attracting customers but always tries its best to retain them by providing them with a lot of products that suit their needs, from casual lingerie to sports and swimming lingerie, from casual shoes to soft fur sandals, from body scrubs to fragrances, from travel bags to keychains, from water bottles to sunglasses.
Victoria’s Secret believes that meeting customer needs with high quality and introducing new fashion products will keep customers loyal to the brand in the long run.
3. Growth of shareholders:
The vision statement of Victoria’s Secret clarifies that the brand focuses on enhancing shareholder returns and wants to maintain shareholder growth. The brand focused on their shareholders’ return because they are the real owners and they have rights over the company, so they always wanted to enhance their dividend.
Conclusion:
Victoria’s Secret is committed to fostering and advancing a joyful, inclusive, and healthy culture for women all over the world. Victoria’s Secret focuses on meeting the requirements of different age groups and providing them with their desired products by adding a high-quality touch and attractive looks. Victoria’s Secret offers its customers a one-of-a-kind experience by offering high-quality, trendy lingerie. The brand makes sure through its mission and vision statements that its future planning and current products all depend on customers’ choices, and they also focus on maximizing their shareholders’ earnings as well.
Faq:
- What competitive advantage does Victoria’s Secret have?
The long-term competitive advantages for Victoria’s Secret include a strong brand reputation and a devoted fan base, which includes 65 million Instagram followers, 29 million Facebook friends, and more than 11 million Twitter followers.
- Who are the target customers of Victoria’s Secret?
In general, Victoria’s Secret targets women in their 30s and 40s and girls between the ages of 13 and 29. Victoria’s Secret’s target market always varies with age because of the large selection of products they offer.
- How did Victoria’s Secret establish such a powerful name?
They used the same product and switched the focus of their marketing from men to women, which resulted in a sharp increase in sales and elevated Victoria’s Secret to the top ten most recognized companies in the nation.
