Marketing with Wharton's Hip Hop Prof
Marketing Matters: Victoria's Secret Hit or Miss & The Reebok Brand
Retail Dive's Cara Salpini joins the Marketing Matters show to discuss Hit or Miss: Here we describe Victoria's Secret's new brand direction in their attempt to return to the runway.
Victoria's Secret wants to get back on the runway - but in a more relevant way. Over 20 years the annual fashion show where the VS Angels flaunted bedazzled bras and lacy underwear ran but was ended after its December 2018 show when it suffered the worst ratings in its history. Victoria's Secret has now replaced its Angels with brand ambassadors who represent all body types and ages. While in-store the brand is also refreshing by using plus-size mannequins and updated fixtures. The seven founding ambassadors feature soccer star Megan Rapinoe; actress and businesswoman Priyanka Chopra Jonas; models Paloma Elsesser, Adut Akech, and Valentina Sampaio; professional skier Eileen Gu; and Advocate Amanda de Cadenet.
Will Victoria's Secret new direction be an authentic change or a disaster in the making?
Next, we discuss Reebok and the opportunity this brand now faces to reinvent itself. Adidas has owned Reebok since 2006 but after several years of revenue decline, Adidas announced that it would sell the business in December of 2020. Now, Reebok has been purchased by Authentic Brands Group (ABG) it now looks to re-invent itself to benefit from the ever-changing consumer environment.