Retailers looking for further growth continue to pin their hopes on China.
American lingerie and beauty retailer Victoria’s Secret, known for its supermodels called “Angels,” plans to open its first store in mainland China as part of its efforts to open more than 100 international stores this year, according to Columbus Business First.
The company, which is owned by L Brands, generated US$10.77 billion in revenue in 2013. It opened 160 stores internationally last year, increasing its store total outside of the United States to 863.
L Brands CEO Les Wexner has high hopes for China and wants to make Victoria’s Secret stores as “ubiquitous as Starbucks”.
The first new international stores will be Victoria’s Secret Beauty and Accessories stores. These approximately 1,000 square foot stores offer a selection of bath and beauty products, fragrances, small leather goods, cosmetic cases, and sunglasses.
These smaller, limited-selection stores have been successful internationally with 198 existing stores, a third of which are in airports. Many of these stores are franchise locations, and some carry a limited selection from the brand’s lingerie, swim, sports and Pink lines in addition to the beauty products and accessories.
Victoria’s Secret opened two stores in Hong Kong last year. While the company is “very, very optimistic” about its international potential, it has been measured in its expansion to ensure that the stores run well.
image source: lucero design