Don’t call them a basic underwear company. Victoria’s Secret is where shoppers go for fashionable lingerie.
That’s according to Stuart Burgdoerfer, chief financial officer and executive vice president of L Brands, parent company to Victoria’s Secret, who told analysts on Thursday morning’s conference call that the business is “fundamentally about fashion.”
“We’re not about selling basic commodity products year after year after year,” Burgdoerfer said. “That’s not the business that we’re in. Others are in that business and that’s fine. And they have operating models and all kinds of things that make that work. But that’s not what our company has done for more than 55 years. We’re about fashion.”
Burgdoerfer’s comments come amid an era of body positivity and casualization. Victoria’s Secret, which is still known for its seemingly perfect Angels and push-up bras, has been criticized for not following suit.
Victoria’s Secret Fashion Show 2018.
Andrew H. Walker/WWD
A number of competitors have been quick to capitalize on Victoria’s Secret’s vulnerability as a result by highlighting their own push for inclusivity by using a variety of different-size models and skipping the airbrushing.
Many consumers and investors have shied away from the company as a result. The stock is down more than 32