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Lingerie giant to stage Shanghai show
Updated: Aug 31, 2017
China Daily
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Victoria's Secret, the world leading retailer of women's lingerie, will have its first fashion show in Shanghai this November, further elevating its brand awareness in the country.
Dubbed the world's most celebrated fashion show, the runway event will be seen in more than 190 countries and regions. Last year's show received 1.4 billion views.
The US-based lingerie designer and manufacturer has invited its all-star line-up of Victoria's Secret Angels, including returning models Adriana Lima, Alessandra Ambrosio and Behati Prinsloo, as well as new faces.
L Brands Inc, the parent of Victoria's Secret, considers China its most important global market, according to reports by Inside Retail Asia. Its executive said last November that they expect, within five years, the markets of China, Western Europe and the Middle East will each account for $1 billion in annual sales.
In March, Victoria's Secret opened flagship stores in Shanghai and Chengdu.
The Shanghai store is the third outlet in the world after New York and London to have a Victoria's Angel Suite, providing a private shopping area and luxury experience.
The US company currently has 30 stores on the Chinese mainland－but most focus on body and beauty products rather than lingerie, swimwear and activewear.
The country's female underwear market is booming.
According to Euromonitor, a market research provider, China's woman's underwear has market value of up to 139.4 billion yuan in 2016 from 129.7 billion ($19.35 billion) in 2015. It forecasts the market volume will grow to 169.9 billion yuan by 2021.
Domestic brands dominate the market. Cosmo Lady tops the market share by 3.7 percent, followed by Beijing Aimer Lingerie Co Ltd's Aimer at 2.4 percent and Tingmei Group Heath-care Science& Technology Co Ltd at 1.2 percent.
L Brands Inc reported net sales of $2.75 billion for the second quarter ended July 29, 2017, compared to sales of $2.89 billion for the second quarter ended July 30, 2016. The company reported a sales decrease of 8 percent for the second quarter ended July 29, 2017.
