The renowned brand of lingerie and beauty products, Victoria’s Secretwill open its first official location in Argentina, located in the Unicenter shopping mall.
Although the company had already expressed its intention to establish itself in the country in 2019, The opening was postponed due to macroeconomic instability first and, subsequently, the Covid-19 pandemic.Representatives of Grupo David, the company that holds the brand’s license for several Latin American countries, said government restrictions, such as stricter exchange controls, had made it difficult for the store to reach the country.
At that time, the David Group indicated that Their goal was to open 12 stores in ArgentinaThe firm has already brought another brand from its portfolio to the country, Bath & Body Workswhich also has a location in Unicenter.
Currently, in Argentina it is possible to buy some Victoria’s Secret products, such as accessories and beauty items, through its e-commerce platform. There is also a space for the brand in the Ezeiza Duty Freebut in none of these cases is the iconic lingerie line offered.
A market with high potential for the brand
In April of this year, spokespersons for the David Group commented that market studies revealed a High level of recognition of Victoria’s Secret among local consumersHowever, they pointed out that the brand’s parent company is maintaining a certain degree of caution and prefers to observe how consumption and the economy evolve before making major investments.
The David Group, of Panamanian origin, owns the License of more than 15 international brands for the region, with 248 stores in 14 countriesfrom Guatemala to Argentina, including Colombia, Costa Rica, Peru and Uruguay.
Victoria’s Secret: Origins, Global Presence and Financial Performance
Victoria’s Secret was founded in 1977 by Roy Larson Raymondwho after an uncomfortable experience in a lingerie store, decided to start her own business with a family and bank loan totaling $80,000. The first store was opened in the Stanford shopping center near San Francisco. However, in 1982, due to financial difficulties, Raymond sold the brand to The Limited Inc., which later became L Brands under the direction of Leslie Wexner. In 2020, L Brands sold the majority of Victoria’s Secret shares to Sycamore Brands, a private investment firm. A year later, the company was formally separated from Bath & Body Works.
Victoria’s Secret today has more than 1370 stores in almost 70 countries. At the close of the second quarter of 2023, the company reported Net sales of $1,417 millionwhich represents a year-on-year drop of 1%. The brand is inspired by the Queen Victoria style and their premises are usually decorated with elements that evoke a Victorian room, such as oriental rugs, period dressers and antiques.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
