On November 30th, local time in France, the secret underwear show of underwear brand Victoria was held in the Grand Palace in Paris. However, outside the show of clothing, Wei Mi is facing a crisis of falling profits. Under the guidance of sports and leisure, Wei Mi seems to want to reverse the "stagnation" of sales through sports underwear.
On November 30th, local time, the underwear brand Victoria's secret annual underwear show was held in Paris. 52 world-class models dressed in Victoria's sexy underwear and special angel wings, swaying on the runway, shaking the men and women in every corner of the world.
However, Wei Mi's executives may not be as happy as the models on the stage. As the number one brand in the American underwear industry, Wei Mi has a total sales volume of nearly 7.7 billion US dollars in 2015. However, in October 2016, the company's parent company, LBrands, announced that Victoria's secret third-quarter same-store sales fell 1%, and the parent company's third-quarter net profit fell 25.8% from the same period last year.
In April of this year, LBrands has already adjusted the business of Wei Mi. In addition to layoffs of more than 200 people, the biggest decision is to restructure the product structure: cut off the swimwear business and focus on sports underwear.
Will sports underwear save traditional underwear?
Founded in 1977, Victoria's secret has always been the dominant player in the field of conventional underwear. The main products are lace underwear and gathered bras. Wei Mi's share of the US lingerie market is about one-third.
But in recent years, the chaser behind it is already on the rise. The new underwear brands AdoreMe and True&Co. are using the same sexy products and more detailed customer service to segment the consumer groups of Wei Mi. Negative Underwear even sings against the fascinating Vimy, emphasizing the simplicity and comfort of underwear.
Behind this, it also reflects that women's aesthetics have gradually become more comfortable, free and healthy from the fullness, sensuality and temptation of tradition.
Wei Mi has taken some countermeasures, including the development of the very popular bralettes in recent years - a comfortable, lightweight, rimless, chestless pad underwear, another important means is the strong introduction of sports underwear products.
Wei Mi's sports underwear was not launched until 2013, and the brand took a fancy to the timing of the fitness market, although it was actually a bit late. In the American market, where the fitness culture is highly prosperous, sports underwear has become the new favorite of women who admire sports and leisure style in the closet, just like yoga pants.
According to a study by the market research firm NPD Group, 41% of the American “Millennial Generation†(corresponding to China's post-80s) population passed through sports underwear during the 7-day investigation cycle, while only 21% of people outside this age range passed. In the crowd wearing sports underwear, 54% are for sports, but 46% attribute sports underwear to everyday wear.
â–² Wei Mi began to work in the field of sports underwear in recent years.
However, in the early days, Victoria's sports underwear product line VictoriaSport was not selling well. Strictly speaking, traditional underwear and sports underwear are two different types of products. Traditional underwear pays attention to the comfort and appearance of the body, while sports underwear pays more attention to the functions of shockproof, moisture wicking, etc. For underwear materials, tailoring and technology. Elements have higher requirements. Wei Mi may be familiar with the lace bra, but he has to start from scratch.
However, the underwear giant's self-adjustment ability is very fast.
First, Wei Mi shifted the focus of sports underwear products from sexual attraction to fashion and functionality. Different from Wei Mi's main line products and the younger Pink, VictoriaSport's advertising catalogue and video highlight the light "makeup / dress". In the lens, the models of Wei Mi are clean and the hair is bunched up, no longer beheaded, but they raise their dumbbells or put on boxing gloves. Their eyes are strong and sweaty, showing women's strength in various sports. And beauty.
After the product was in the right direction, Wei Mi began to work hard from the product itself. VictoriaSport's products mainly include sports vests and tights, but the top products are still Wei Mi's housekeeping skills - underwear.
Vimy's sports underwear not only uses the traditional size classification from XS to XL used by many sports underwear brands, but also some underwear according to the size classification of conventional underwear - from 32A to 40F - more choices for consumers to choose To sports underwear that is more in line with its own situation. In addition, Wei Mi claims that his underwear can absorb 74% of the shock and introduce different types of sports of different strengths.
In the market of sports underwear, Wei Mi directly regards professional sports brands such as Nike and Adidas as opponents. Today's big show wearing a $3 million "dream underwear" Victoria contract model (officially called "angel") JasmineTookes said: "I put on all the Nike sports underwear after wearing Wei Mi."
According to Morgan Stanley's 2015 report, VictoriaSport's annual sales are between $2-250 million and will be a $1 billion brand in the future.
Motor gene in the bone
One of the status quo is that the establishment of the 40-year-old Wei Mi seems to have encountered the "middle-age crisis", and its products are gradually losing their appeal to young people.
In the past, Vimi used to convey "sexy", "slim" and "charm" as a concept of beauty to consumers. But the aesthetics of young people are changing, and the standards of recognition for physical form and mental state are changing.
The transformation of women's aesthetics has also led to the transformation of Wei Mi's marketing strategy.
Earlier this year, Wei Mi cut off the advertising catalog mailing and swimwear business. Previously, Wei Mi mailed several advertisement catalogues to millions of consumers every year. Many men sneaked through their mother's Wei Mi catalogue when they were young. And Wei Mi's swimwear is a product that many women and even men love. In 2015, Wei Mi's swimwear business had a turnover of approximately $500 million.
Sports and leisure products will be the focus of Wei Mi's next effort. Its role in Wei Mi is not only to increase income, but also to change the image and retain young consumers.
To this end, in recent years, Wei Mi has not only innovated in products, but also in the signing of models, advertising communication, marketing strategies.
â–²The traditional image of Wei Mi "Angel" is sexy and curvaceous.
Vimy's signing model is often referred to as the "angel" of Vimy. In recent years, Wei Mi and some long-term contracted models canceled the contract, signed more 90 models, and the addition of young people gave Wei Mi an image of age reduction.
Previously, the image conveyed by Wei Mi "Angel" seemed to be too singular, tall and slender, and kissed the camera. There was a commercial photo in Vimy that caused controversy. Ten super slim models were lined up with a slogan: The Perfect Body.
â–²Vimi once had a poster about "The Perfect Body" caused controversy.
Nowadays, more models appear in the image of health and sports in Wei Mi's advertisements and activities, as well as on the social platforms of Wei Mi's official and model individuals.
Open the Instagram page of Wei Mi, in addition to advertising and event promotion, there are quite a lot of photos and videos of the model during fitness. Even the Wei Mi models will record professional fitness videos. After posting to the Internet, fans can follow these videos for training.
Models will also share their fitness methods, healthy recipes, etc. on social networks and fans. In addition, before the annual big show, Wei Mi will also recommend models to maintain a certain intensity of training to achieve the best state of the mirror. After training, the models usually post photos and videos of their training on social platforms, tagged with #trainlikeanangel (like the fitness of the Vimy Angel). This method naturally leads people to associate Wei Mi with “health†and “sportsâ€.
Many models said in an interview: the models in the fashion circle are hungry and thin, and there are not many sports, but the Victorian Angel is really in motion.
â–²Vimi "Angel" Martha Hunt released training videos on personal Instagram.
Wei Mi itself seems to be a concentration of fitness net red. Each of its signing angels has millions or even tens of millions of fans on social networks, and the models on the big show are also super "net red" like Kendall Jenner and Gigi Hadid. The number of fans was 69.2 million and 25.8 million respectively. Through these young, sporty and influential girls, the image of Wei Mi's sports is not difficult to spread.
In addition, Wei Mi will hold an activity similar to the experience class. The signing angel Candice Swanepoel or Behati Prinsloo and others will carry out yoga or other sports with consumers and wearing Wei Mi products. It is also one of the means to create image.
In 2015, an article in the American Atlantic Monthly said that Wei Mi is passing an advanced body aesthetic: the slender and feminine beauty still has a market, but the abdominal muscles and bronze are replacing the curvaceous beauty and become the new pursuit of women. Appearance feature.
Can the Chinese market learn from it?
Victoria's secrets also have many fans in China. Chinese women have been buying Wei Mi products for a while through Haitao and purchasing. Previously, some unlawful agents also brought Wei Mi into the Chinese market; in 2015, Wei Mi opened the first Chinese store in Raffles City, Shanghai.
For consumers, Wei Mi is synonymous with dreamy sex. For the peers in the field of underwear, can Wei Mi's transformation experience be used for them?
According to the lazy bear sports observation, many domestic underwear brands, such as Ai Mu and Wacoal, already have their own sports underwear products. But carefully comparing the sports underwear of these brands with professional sports underwear, the gap from fabric to cutting to technology still exists.
"No one has bought a sports underwear to choose a domestic brand, regardless of Nike Adi." Liu Yupeng, co-founder of the underwear brand "Mr. Rhino", said to Lazy Bear Sports.
Liu Yupeng said that Miss Rhino has also seen the demand for sports underwear fashion and developed the underwear product line, but the actual sales situation is not ideal.
“Because the nature of the product itself is different, everyone is confused about our brand positioning,†Liu Yupeng said. “VS (Vimi) already has many sub-brands. The sports line has angels and some marketing campaigns. It’s quite logical. But the small brands are still more focused."
â–² Sports are becoming a new fashion pursuit for young women.
Julia, the founder of the sports underwear brand è–凡特, also said to the lazy bear sports that ordinary underwear brands often encounter some problems in sports underwear. The primary reason is that the product attributes are different. “Sports underwear is actually a sports underwear that is different from ordinary underwear, with a focus on functionality and support.†Julia explains, “The everyday skin is like the second layer of skin, and the comfort is the comfort of wearing. (Sports Underwear and general underwear) are two different subjects."
At present, the source of sports underwear in the domestic market has the following categories: sports underwear product line of ordinary underwear brand; sports underwear such as Zara, H&M, Gap, etc.; sports brands at home and abroad; brands with lower price on Taobao; Foreign professional sports underwear brands such as ShockAbsorber's Haitao, purchasing products.
è–凡特 has analyzed 270,000 consumers who have purchased their products and found that consumers spend an average of 257.92 yuan per year on sports underwear; 2-4 pieces of sports underwear per year; 2-6 consumers of 7.48% Replace a sports underwear in the month.
Regularly moving women routinely change their sports underwear for at least 3 months. And people with exercise habits don't have a pair of sports underwear in just one period. In terms of price, Nike and Adidas' sports underwear are currently between 300-400 yuan, while other brands are mostly around 200 yuan.
It can be seen that the consumption of Chinese women in sports underwear is still relatively lagging. But how to brand the Nuggets in this blank market seems to be much more to consider. After all, underwear giants like Victoria's Secrets are not so easy to kneel down the hard bones of sports underwear.
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