Victoria’s Secret takes beauty business to Amazon in wholesale test
Amazon will offer a selection of approximately 120 Victoria’s Secret products, which include lotions, fragrances, and other beauty products, starting Friday.
Source: Victoria’s Secret
About 120 products will launch Friday, which includes branded perfumes, lotions body scrubs and body wash.
Greg Unis (CEO of Victoria’s Secret’s Beauty Business) stated that the intention is to increase the range over time based on customer demand. He said that eventually, the plan could include adding bras, loungewear, and underwear to the collection.
Victoria’s Secret’s decision to go wholesale shows the dynamic retailers today are dealing with. Brands that for years operated purely by selling direct to consumers — through their own stores and on their own websites — are seeking partnerships with big-box retailers such as Target or department stores like NordstromThey can also sell their products.
Retailers such as Nike are also able to take advantage of this opportunity. Ralph LaurenWholesalers that were heavily pushed into wholesale have begun to reduce their size in an effort to retain control of pricing and profit margins. The consensus is that some wholesalers are better than none.
According to Unis many Amazon shoppers have already visited Amazon to search for Victoria’s beauty products, including its Bombshell line. However, they are only able to discover a variety of merchandise being sold by third-parties.
Amazon allows anyone to list on the site. [there]Unis spoke in an interview. By simply looking at the products already in circulation, we could see that there was an appetite.
It was also more practical for Victoria’s to begin with beauty rather than intimates, as there’s no sizing factor with perfumes or lotions.
The company made approximately 15% of its total North American revenue from beauty sales in 2021. This was about $900million. according to a June investor presentation. Around 40% of all beauty transactions were done online.
Victoria split since Bath & Body WorksIt became an independent business in August last year and has taken a variety of initiatives to increase sales and gain customers. The company invested $18million to acquire a minority stake in Frankie’s Bikinis women’s swimwear label. It also launched Frankie’s Tweens brand. Happy NationThis brand targets a younger audience than Pink.
Victoria’s Secret’s Beauty Business could be taken to the next level by a partnership with Amazon. Beauty shop-in shops can be found in every retailer.
It is true that there are a few retailers who offer the following: strategy of selling on Amazon hasn’t always worked out.
Ikea is one of the many companies that we represent. NikePopSockets, Birkenstock, and others have withdrawn from Amazon in recent years. Amazon is often approached by businesses to help combat counterfeiters and unreliable third-party sellers. However, they may lose certain consumer data as well as the potential for their brand positioning on Amazon’s site.
Victoria’s Unis believes that the ecommerce giant is the perfect fit for the company and its next sensible step. It’s an opportunity for Victoria’s, he said. Victoria’s beauty brand awareness is “relatively high” when compared to its lingerie.
He said, “We are expanding our universe consumers.” It almost feels like we have an extension of our website direct to consumers by the way we set it up on Amazon.