In the first quarter of 2024, Victoria's Secret reported a net sale of $13.59 billion, adjusted operating income of $40 million, and adjusted net profit of $9 million, representing a decline of about 60% compared to the same period last year. The downward trend is expected to persist throughout the year, with Victoria's Secret anticipating single-digit declines in net sales for the second quarter and the 2024 fiscal year, with adjusted operating income forecasted to range between $2.5 billion and $2.75 billion for 2024.
While the Victoria's Secret brand remains highly recognizable in the Chinese market, the market landscape has shifted. According to relevant statistics, in the first wave of results during the “618”(e-commerce campaign in China) pre-sale period this year, Victoria's Secret ranked third in the loungewear category on Tmall, with ubras and Bananain taking the top two spots, both of which are rising consumer brands in recent years. This evolving brand ecosystem partly reflects lingerie consumption trends, where basics, comfort, and self-care have become more mainstream choices.
Victoria's Secret is also striving to adapt to changing Chinese consumer preferences, including the launch of its first China designer collaboration series last year and the release of the documentary "The Tour'23," which not only emphasizes its traditional focus on "sexy" attributes but also places greater emphasis on health and other inclusive elements.
INTERFILIÈRE SHANGHAI is an international leading body fashion show that has been serving the China's market for 20 years. INTERFILIÈRE SHANGHAI 2024 offers you the cutting-edge perspective and resources for the global intimate apparel body fashion industry, helps all exhibitors enhance brand influence in both domestic and overseas markets, and accelerates all attendees’ business development as well as the intimate apparel body fashion industry continuously breaking through aesthetic accomplishments from garments, accessories to apparels, and gaining insight into the latest fashion lifestyle trends.
INTERFILIERE Shanghai 2024
October 15-16
Shanghai Exhibition Centre
Visitor Pre-registration
