In a short story in the Wall Street Journal [subscription required], Sharen Turney, chief executive of of Victoria's Secret, confided during a conference call that the lingerie chain may have gotten off track at some point and may now be just too sexy.
Can there be such a thing as too sexy? There are times you can be too trashy, or too slutty, but can you be too sexy? I think not!
It may be that some of the advertisements on television are inappropriate for the time-slot. It may be that at times the ads are viewed like soft porn and teenage boys are the first to peruse the monthly mailing. But too sexy? That is a very strange comment coming from a company that has made a reputation for itself and pushed sales growth for years based on a foundation of sex appeal.
The Victoria's Secret chain is a division of the Limited Brands Inc. (NYSE: LTD) and Turney said she wants to bring a more sophisticated image back to the product line - hmm. I wonder if this is just a smoke screen to avoid criticism by conservatives in an election year.
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I can just hear the discussion in the board room: "There are some folks that think we have gone too far, and that we present an image that is just too darn sexy. All those in favor of being less sexy raise your hands"
This just does not seem possible, does it? LTD closed yesterday at $17.82 but is down over 9% in midday trading. Maybe Wall Street traders prefer more sexy, not less?
UPDATE: LTD closed at $15.85 down $1.87.
Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: I do not own shares of LTD.











Reader Comments (Page 1 of 2)
2-28-2008 @ 5:14PM
Fiskar said...
I'm guessing it has NOTHING to do with conservatives in an election year....when has that stopped poor tase? I am guessing that there is a direct relationship between the increased smuttiness of their clothes line and decreased sales. Have you looked at women in the mall? Many women over 40 (you know,that large group called BOOMERS) are NOT supermodels and will not wear that stuff. Last time I was in there they did not have a single bra for me (36 DD). So a great smoke screen for them is to say"look at VS...we're so socially responsible. (Yea us!) Follow the dollars every time. Just my opinion.
2-28-2008 @ 5:19PM
Sheldon L said...
Hmm...the objections seem a little disingenuous when you advertise the 36DD's Fiskar.
2-28-2008 @ 6:06PM
berisky said...
In a related note, Sharen Turney, chief executive of of Victoria's Secret, has just been released. ;)
2-28-2008 @ 6:34PM
Ethan said...
Really, Sheldon, you surprise me. We don't buy the stuff, the gals do.
As an investor, I'd think you'd approve of marketing that might increase sales rather than marketing that makes teenage boys (and I'll admit, me too) happy.
2-28-2008 @ 7:44PM
Sheldon L said...
I agree with you Ethan. Whatever makes the company better and stronger is the right thing to do.
Ms. Turney is correct that the store windows need not look like the red light district in Amsterdam. However, that is the slutty/trashy look, and I am not sure "less sexy" is accurate.
On a lighter note, I could not help but imagine Saturday Night Live doing a spoof of the board room scene and having a great time doing it.
2-28-2008 @ 11:51PM
Jodi said...
I, too, feel that Victoria's Secret has gone beyond what most people feel is "sexy", rather looking very similar to soft pornography. I, for one, have stopped buying from Victoria's Secret for this reason--and just happened to have a conversation recently w/ friends, that we had ALL did the same thing. Feeling feminine and beautiful is liberating--but wanting to look trashy will never take the place of being classy. When your target audience that can't wait to receive the mailigs is teenage boys--doesn't that say that this is just soft pornography that has become a source of available porn in the mail? I, for one, asked the company a while back to take me off of the mailing list--for this reason. I have young sons, and felt this was inappropriate to have laying around, desensitizing them to everything that used to be private. I'm not sure Victoria has any "secrets" any more??! Please bring back the classy!
2-29-2008 @ 2:43AM
ckp said...
I agree with Fisker & Jodie. You know,..I believe
woman's greatest asset is man's imagination. VS,..this is your que; stop selling trash & try some good taste.
2-29-2008 @ 3:39AM
Marc Z said...
you girls are lame. Victoria's Secret is for hot women. You want comfort, selection...go to JC Penny. Don't ruin it for the rest of us.
2-29-2008 @ 5:07AM
Luv704 said...
I want to start by pointing out that the picture in this article is from over a year ago and was a Valentine's Day display. Considering the holiday, I would say that a "sexy" window is expected. If you were to feature some of the other window displays Victoria's Secret has had since, they would range from maniquins in pastel colors and angel wings to pink pokadot maniquins wearing sweat pants and hoodies. I was in the mall today and Victoria's Secret had maniquins wearing capri pants, t-shirts with tennis rackets and puppies in all colors. It bothers me that people who dont shop there sit here and comment on a business they are not familiar with and go as far as calling a clothing catalog "porn" I'm sorry but if you think your teenagers look to the Victoria's Secret catalog for porn, you better open your eyes and look around at the world your living in. Your son can get online and look up whatever he wants. Maybe we should stop blaming others and start doing our job as parents and teaching our kids right from wrong.
2-29-2008 @ 5:43AM
Dani said...
First of all, there is a huge difference between "sexy" and "sleezy". VS has passed on into the sleezy category and has been there, rivaling Fredericks of Hollywood, for quite some time. Fiskar, you're right. There is nothing in there for the over 40 crowd. Those of us who are confident in our sexuality desire something that enhances it, rather than something that makes us appear desperate for attention. We don't need to dress like hookers. That coupled with the fact that with their recent redecorating, the place looks like a cross between an explosion at the Pepto-Bismol plant and Hello Kitty on crack is enough to turn me off. I used to enjoy shopping at VS, now I walk right by it without a second thought.
2-29-2008 @ 7:48AM
Robin Peiczarka said...
I love their bras but have stopped buying them because of all the trash that comes to the house. Their TV show is off limits and because of the 'atmosphere' I won't go in their stores shopping anymore. I always bought the bras on-line.
Logic would tell me, they want women to buy so why would they target to make us all feel ugly and undesirable when we are around their stores? That product is more "angels" with 'angel' bodies..the men might like it...but I don't think they buy it, and my husband certainly is not making me go there...so , who is their marketing dept...I think of Playboy when I see anything related to VS...
2-29-2008 @ 8:09AM
debra barton said...
I, for one, would like to be able to rely on this brand for the traditional offerings, especially undergarments that truly meet a woman's needs. This brand used to meet my needs, but over the last number of years the sizing and styling is not flattering in the least. I still hang on to V.S. undergarments I purchased years ago, but have had to go to other more customer friendly brands when I need to purchase new items. Please go back to your roots!
2-29-2008 @ 9:42AM
Jojo said...
Whoa marc z....congratulations on the predictable male opinion! Hot women do wear VS, but lets face it, supermodels only make up 7% of the world and VS would do much better sales by aiming their product at the average looking twenty somethings. Wouldn't you rather enjoy a women's company when she is comfortable sharing with you what she is wearing rather than her being too intimidated to do so? Although by your personal attack against faceless e-mailers (calling them lame and implying that they are not hot) makes the rest of us believe that maybe a women's company wouldn't be the company you prefer.
2-29-2008 @ 10:41AM
jeslanza22 said...
I would have to agree with the CEO on this 100%!I cant wait to see a change!
2-29-2008 @ 11:18AM
WJ said...
My ex-husband loved the VS commercials. But, he wouldn't let me buy from them because he didn't want me to be seen in the store (what would people think)-and this was before everyone had computers at home- and because he said I could get the same kind of stuff somewhere else and pay less. Now that I am divorced, I don't want the sexy - I want the seductive. I want something that says I know who I am and what I am without being "trashy." Yes, it is a fine line, but I think VS crossed it a few years ago.
2-29-2008 @ 11:19AM
kfmagee said...
Ok ladies... let's get this straight. If men wanted to see you in Granny Panties, we would hang out at Target or Walmart displays. Men view the VS woman as someone willing to be a bit more daring - a little lacey, and little skimpy, a bit of the "come hither" attitude.. which we like. The fact men LOVE to look at this stuff is your big clue #1... we are VISUAL.... if you want to wear snuggly bloomers, then don't get upset with us when we don't pay attention to you in the boudoir... and if you are too frumpy to feel comfortable in VS attire, then there is clue #2... lose weight, and tone up. My wife is 44, and a mother of two young boys... she looks great because she WORKS at looking great in VS goodies.
2-29-2008 @ 11:28AM
angelica said...
As someone who has been working for Victoria's Secret for a few years now, I see all the changes that are being commented about 1st hand. For a while I was a little worried with the direction the company was going....way too Frederick's of Hollywood, but I've noticed already a huge change in our product....back to our advertisements and lingerie being classy and glamorous, and I'm so glad. We always have bras and panties that are practical for the everyday woman as well, but I can understand that some people may not be able to get past the in your face sexiness in the store to shop comfortably for that stuff. Just try not to be completely turned off to Victoria's Secret until you give it another try!!
2-29-2008 @ 1:08PM
Sheldon L said...
A lot of good comments here...
One fine point about Jojo's remarks,
"supermodels only make up 7% of the world..."
Even by the greatest stretch of the imagination, only .000007% would be considered supermodels, and that might be optimistic.
2-29-2008 @ 3:33PM
Lynne said...
I can personally attest as a long time VS shopper who also has kids...the last few catalogs have gone right into the trash. I was not even going to be caught looking at them...much less leave it around for my 14 year old son, ahem. I think not.
There has been a noticible turn to the "Fredrick's" side. Totally trashy.
Funny, last week when I got their Swimsuit Issue, my 9 year old daughter saw some of it, before I got to the mail and said, "Mom, this stuff is just WRONG!".
Nuff said. Garbage.
2-29-2008 @ 3:44PM
Lynne said...
To Luv704
Gee, I hope that judgemental venom wasn't directed at my post. Let me re-iterate. I am very familiar with VS...indeed a LONG TIME shopper. My eyes are very open to the world we live in and NO, Luv, my son can't jump online and look at porn. They have programs for that, dear, and caring parents, like myself, can install them for monitoring. Same for the T.V. and video games. I am a very watchful and responsible parent, and while my kid might see it elsewhere...he well knows right from wrong, because he learned it AT HOME.
Between the two of us, Luv, I don't think I come off as the ignorant one. Best to watch yourself, dear.
Luv704 said...
It bothers me that people who dont shop there sit here and comment on a business they are not familiar with and go as far as calling a clothing catalog "porn" I'm sorry but if you think your teenagers look to the Victoria's Secret catalog for porn, you better open your eyes and look around at the world your living in. Your son can get online and look up whatever he wants. Maybe we should stop blaming others and start doing our job as parents and teaching our kids right from wrong.
Lynne said...
I can personally attest as a long time VS shopper who also has kids...the last few catalogs have gone right into the trash. I was not even going to be caught looking at them...much less leave it around for my 14 year old son, ahem. I think not.
There has been a noticible turn to the "Fredrick's" side. Totally trashy.
Funny, last week when I got their Swimsuit Issue, my 9 year old daughter saw some of it, before I got to the mail and said, "Mom, this stuff is just WRONG!".
Nuff said. Garbage.