Friday, August 24, 2007

Victoria's Secret reveals expansion plan

The American lingerie brand Victoria's Secret is looking to expand into accessories and sportswear in an attempt to pull in more consumers. The news follows deflated profit margins which the brand hopes will be ‘perked up’ by driving sales in an increasingly crowded market. The company is looking to buy bigger stores with more square footage in order to devote more space to categories such as sports bras, yoga wear and swimsuits.

Sharen Turney, the chain's chief executive, of the upcoming Victoria's Secret Sport line, said. “It will be combining technology and fashion and sexy into one." Turney also told Reuters that swimwear will drive new shoppers into stores and provide a counterbalance to holiday sleepwear sales.

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