Victoria's Secret, the iconic American women's innerwear company, has launched the direct to consumer (D2C) operations in India with a website and partnership with Mumbai-based Major Brands, the India distributors and marketers.
“Victoria’s Secret is a huge brand in the lingerie, skincare, and perfume categories. We at Major Brands have been working towards getting similar premium brands to the Indian markets for years now. We are planning to bring one to two premium international brands every year to India. After successfully bringing in the likes of Aldo, Bath and Body Works and the rest, Victoria’s Secret made sense,” Tushar Ved, CEO, Major Brands, told The Economic Times on the launch of operations.
"Although the D2C website has just been launched, we expect our orders to be generally between Rs 4,000 and Rs 8,000. Victoria’s Secret as a brand is aspirational and has some of the most popular brands under its umbrella," Ved told the publication
Major Brands is not planning to partner with e-commerce platforms for Victoria's Secret, although its other brands, such as Aldo and Charles & Keith, are sold on Myntra and Nykaa, the report said, adding that one of the reasons is that brands don't have access to consumer data when selling via e-commerce platforms.
“We decided to launch the D2C channel first for the beauty and perfume range, as this allows us to maintain the inclusivity and experiential factor that we would be bringing in for Victoria’s Secret EBOs (exclusive business outlets) as well,” Ved said. “When consumers are shopping from a brand like Victoria’s Secret, they are looking for the experience more than anything else. And at Major Brands, we work towards successfully creating that at every level.”
The company will launch offline stores of Victoria's Secret in 2022, but the brand will be available only via its exclusive brand outlets (EBOs).
Major Brands currently imports all Victoria’s Secret products and plans to fulfil orders through its distribution centres, the report said.
“Victoria’s Secret's stores will be 5,000 sq ft-7,000 sq ft, and carry the full range — lingerie, the PINK brand, and the beauty range. We want our consumers to get the complete experience of shopping at a Victoria’s Secret outlet.”
India’s beauty and personal care market is estimated to be worth Rs 1.15 lakh crore for the 2021 calendar year, according to Euromonitor International. Of this, 5 per cent is driven by the premium category, and the rest by the mass category. However, the premium category grew at a compound annual growth rate (CAGR) of 9 per cent over 2015-2021, while the mass category grew at 6 per cent, the report said.
Industry experts believe the premium category will grow strongly over the next few years, primarily driven by millennial women, who are spending more on beauty and personal care compared to earlier generations, the report added.
“Victoria’s Secret is an iconic brand with a ready consumer base. As a company, we understand how premium retail works. We have been working with Bath and Body Works in India for some time now. We believe this is the right time to focus on the premium beauty and lingerie market. Consumers will want premium options, and the deciding parameter in the coming years will be the quality and the experience offered by the brand,” Ved said.
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