Renowned lingerie brand Victoria’s Secret & Co (NYSE:VSCO) is reportedly returning to its previously “sexy” image, moving away from its recent inclusive narrative. This shift has been prompted by a significant decline in sales.
What Happened: A report by Fox Business on Monday revealed that Victoria’s Secret’s transition from a “hyper-sexualized” image to a more inclusive one has not resulted in any financial gains. The company’s projected revenue for 2023 is slated at $6.2 billion, a 5% decrease from last year and well below the $7.5 billion revenue of 2020.
The company had made efforts to promote inclusivity, appointing pro-LGBTQ women’s soccer player, Megan Rapinoe, and a transgender woman as brand ambassadors. However, these initiatives did not lead to an increase in sales.
The sales slump followed the company’s decision to establish a predominantly female board of directors and discontinue the use of ...