Does Victoria’s Secret Franchise?
Victoria’s Secret is a world-renowned retailer of women’s lingerie, sportswear, loungewear and accessories. It has built on its model over the years to add body care products and fragrances to its offering. It has also launched three subsidiary brands: PINK, a ‘cheeky’, ‘fun’ and ‘comfy’ brand aimed at college-aged women and selling hoodies, t-shirts, sweatshirts, bras, pants and beauty products; SWIM, specialising in bikinis, bags, shoes and sunglasses; and Victoria’s Secret Beauty, selling fragrances, toiletries, cosmetics and bags. College students can shop Victoria’s Secret’s PINK products at more than 160 standalone stores worldwide, as well as on the Victoria’s Secret website.
Victoria’s Secret is an American brand, and was launched in 1977 when the American businessman, Roy Raymond, decided to create a women’s underwear store where male customers could feel comfortable buying lingerie for their partner. It was not until 2012 that the brand – and its subsidiaries – arrived in the UK. The first Victoria’s Secret store was 22,000 square feet in size and opened its doors on New Bond Street in London. Today, there are more than 1,100 Victoria’s Secret stores across the globe.
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This brand is at the forefront of the lingerie industry. While the global industry as a whole was estimated to be worth around $38 billion in 2017, Victoria’s Secret generated $7.4 billion of that figure in the same year. What’s more, Business Insider has revealed that Victoria’s Secret is responsible for 40 percent of all intimate apparel that is sold around the world. The brand has become synonymous with lingerie, both in the UK and in the US. It is the first stop for many young women, who know they can find comfortable, fashionable and sexy underwear – as well as loungewear, sportswear and accessories – in the brand’s many stores.
Here are some more shocking statistics: 77 percent of consumers aged between 16 and 24 say that they would shop at Victoria’s Secret. In 2017, 24.15 million Americans used fragrances from Victoria’s Secret more often than any other brand. And the brand is immensely popular on social media, boasting 29 million supporters on Facebook and 11 million followers on Twitter. This means it is the second most popular fashion brand on Twitter, after Chanel, which has 13 million followers (Statista).
Victoria’s Secret is the leading brand in its parent brand’s portfolio. Lbrands manages Victoria’s Secret, PINK and Bath & Body Works, which sells toiletries and fragrances for the body and home.
Does Victoria’s Secret Franchise?
Unfortunately for entrepreneurs, Victoria’s Secret does not operate a franchise model. Its retail outlets are all company-owned stores, so there is no way to open a retail business under the lingerie giant’s brand name.
Victoria’s Secret Franchise Opportunities
As previously stated, there are no franchise opportunities with Victoria’s Secret – or its subsidiary brands – but there are a range of other franchises in the fashion sector that are ready and waiting for budding entrepreneurs to pick up the phone and get in touch.
Lingerie is one option for prospective franchisees; after all, the industry is an exciting place to be at the moment. Significant change is occurring due to many retailers overhauling their marketing strategies to respond to consumer demand for inclusivity and equality. This is all in light of the revolution surrounding body positivity. Investors could also put their hard-earned cash into a clothing and accessories franchise, or a toiletries and cosmetics business. What’s clear is that this is a hugely varied industry that holds plenty of potential for those willing to put in the effort.
Alternative Franchising Opportunities
Let’s take a look at a couple of franchise opportunities in the retail sector.
If you want to stay ahead of the game in the fashion industry, Noa Noa is a good franchise to go for. With increasing interest in the sustainability of fashion and the impact of clothing manufacturing processes on the environment, more and more shoppers are turning to retailers like Noa Noa that take a step back from the world of fast fashion that has become the norm on the British high street, and focus on creating high-quality pieces that will stand the test of time.
Noa Noa is aimed at the ‘modern bohemian woman’ and uses a combination of traditional and modern manufacturing techniques in its ‘slow craft’ workshops. Consumers who visit one of the 60 concept stores or 400 department stores in the world that feature Noa Noa products can expect to find expensive fabrics, such as wool, silk and 100 percent organic cotton and clothing that showcases the small details, like fabric-covered buttons, hand-sewn hems and “lining worth showing”.
Investors who want to join Noa Noa will have to make a payment of between £50,000 and £100,000. They will then be able to sign a five-year contract, which can be extended in the future.
If you’re interested in starting a fragrances business, why not establish a franchise partnership with Arabian Oud? This company was launched in 1982 by Sheikh Abdul-Aziz Al Jasser in the market of the old Alzal souk of Riyadh. There are now just under 900 dedicated Arabian Oud stores across the globe and the brand’s fragrances are worn in more than 30 different countries, making it the world’s largest Arabian perfume business. Its success is clear to see; it generates an annual turnover of more than £230 million.
New recruits to the business can rely on Arabian Oud’s support both in the initial stages and throughout the franchise contract. They will gain access to the business’ dedicated training programme in key business areas such as operations, management, administration, company policies, sales, marketing and product selection. The contract length currently stands at ten years, so prospective franchisees should be prepared to commit to a significant trading period with Arabian Oud. But, if the franchise’s model is followed, there is the chance for franchisees to benefit greatly from the business’ brand awareness and positive reputation.
Alice Tuffery, Point Franchise ©
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