Sexual harassment, unspoken rules, and discrimination against fat people. It has fallen for four years and evaporated 158 billion yuan! It should have collapsed long ago.

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The following article is from Golden Wrong Knife

Author: Diik

Technology business observer. Supporters of explosive strategies. Is the future left or right? International underwear giant, Victoria's Secret, sold at low prices! Holding large annual exhibitions costs hundreds of millions of dollars. It is now worth only $ 1.1 billion, while a 55% stake in the company that actually controls it has sold only $ 525 million (equivalent to 36. 800 million yuan). Only a year later, Vermeer announced intensive closures and layoffs worldwide, and cancelled the 23-year annual lingerie show. Now, it has been kicked out and privatized by its parent company, selling for less than a quarter of market expectations. 43-year-old Vimy has a positive side, but what else is unknown behind this step? Wei Mi's brand story has been told for decades. This stems from the embarrassment and pain of a man buying a sexy bra for his wife. He moved the sexy lingerie to a separate space for sale so that men would not be embarrassed. Prior to Vimy, underwear was mostly like this, with monotonous colors and styles. Vermeer boldly used lace. There is also a very advanced breakthrough in pajama design. However, at that time, Vermeer only wanted to attract male customers and ignored the training of female customers. It's a bit like the Vermeer store in the red light district, and it even makes female customers lack favor. As a result, Vermeer was on the verge of bankruptcy within a few years. Lex Wexner, the founder of the L brand, saw the potential of Vermeer, bought Vermeer for $ 1 million in 1982, and decided to make Vermeer a British style. The store's style comes from original dark wood with crimson decoration, using gold-plated lamps, floral motifs, playing classical music, and warm-toned spotlights on bras and panties. The catalog has a new style and has become the blockbuster of fashion magazines. He also used a trick to program an address for the brand's headquarters in London, UK, when the headquarters was actually located in Columbus. In this way, Vimi developed rapidly and became the world's first female underwear brand. The brand has turned Vimy into a fashion brand. For example, the decoration of the store feels like a European luxury brand, and the style of the store will be revised every few years. In terms of marketing, Vermeer never regrets money, TV commercials, magazines, celebrity endorsements, etc. The most successful is the annual large-scale exhibition that began in 1995. "Angel supermodel" and "wings" have become some of Weimei's labels and synonyms for "sexy". Even the annual model audition has attracted the attention of countless men around the world. From the beginning, it was only broadcast on television to the subsequent network. So far, Vimy Show has been broadcast more than 100 billion times in more than 180 countries and regions around the world. Fans designed three highlights: First, supermodel. Wei Mi has a unique set of criteria for choosing models, but it also opens the door for many supermodels. Most supermodels from Wei Mi have undergone tremendous changes in their careers. Therefore, the modeling industry generally believes that being able to go to the Vimi show is a measure of their career height, and it is even more glorious to wear "wings". In the Forbes list of the world's most profitable models, many people have walked through the Vimi show, including senior Vimi show supermodel Gisele Bundchen has been at the top of the most profitable model list for many years. Of course, these supermodels play an important role in shaping Vimy's sexy image. The second is a guest actor. In order to create a topic and increase audience ratings, Vimy Show also invites pop musicians as performance guests every year, such as Taylor Swift, Justin Bieber, Rihanna and so on. In 2017, Vimi Shanghai will invite Chinese singer Zhang Liangying. The third is a dream bra. Vermeer spends a lot of money each year making a sparkling fantasy bra "fantasy bra" and specially selects an angel to wear it on a super-molded shaft, which usually costs millions of dollars. The most valuable dream underwear in history was worn by Giselle Bundchen in 2000, worth 15 million US dollars, breaking the world record and becoming the most expensive underwear in the world. The fantasy bra directly enhances the luxury of Vimi brand. Of course, this set of 2018 is only worth 1 million US dollars, the lowest in history, and is considered an important sign of the decline of Vimy. In his time, Vimy's strategy was successful. In the early 1990s, its sales exceeded $ 1 billion. By 2009, there were more than 1,000 stores worldwide, setting a record of selling 600 underwear per minute. For a long time, its sales have accounted for about two-thirds of the group's total sales Bangchen wore in 2000, worth 15 million US dollars, breaking the world record and becoming the world's most expensive underwear. The fantasy bra directly enhances the luxury of Vimi brand. Of course, this set of 2018 is only worth 1 million US dollars, the lowest in history, and is considered an important sign of the decline of Vimy. In his time, Vimy's strategy was successful. In the early 1990s, its sales exceeded $ 1 billion. By 2009, there were more than 1,000 stores worldwide, setting a record of selling 600 underwear per minute. For a long time, its sales have accounted for about two-thirds of the group's total sales Bangchen wore in 2000, worth 15 million US dollars, breaking the world record and becoming the world's most expensive underwear. The fantasy bra directly enhances the luxury of Vimi brand. Of course, this set of 2018 is only worth 1 million US dollars, the lowest in history, and is considered an important sign of the decline of Vimy. In his time, Vimy's strategy was successful. In the early 1990s, its sales exceeded $ 1 billion. By 2009, there were more than 1,000 stores worldwide, setting a record of selling 600 underwear per minute. For a long time, its sales have accounted for about two-thirds of the group's total sales

In 2015, the market value of the L brand reached 29 billion U.S. dollars (equivalent to 203.5 billion yuan, based on the 2015 average exchange rate of 188.6 billion yuan). In addition to underwear, Wei Mi also has other products, such as yoga clothes, casual clothes, swimwear, daily clothing, shoes, beauty products and so on. It also often launches products in conjunction with other brands. The only constant is that it must be sexy. However, all this is rapidly breaking down. It took almost 40 years for Vermeer to reach its peak, but it has now been cut off. Although its sales still account for a large part of the L brand's revenue, it is undeniable that Vermeer has become a "cumbersome". The first is the continued rapid decline in performance. L Brands reports that from 2016 to 2018, Vimi's sales were US $ 7.78 billion, US $ 7.387 billion and US $ 7.375 billion, respectively, and net profit fell from US $ 1.17 billion in 2016 to US $ 462 million in 2018. Sales in the first three quarters of 2019 fell by $ 650 million to 45 per year. $ 2.8 billion. Closures have also become the norm, with 22 closed in 2018 and 45 closed in 2019. The US market share has dropped from 33% in 2016 to about 20%. Under the direct drag of Vimi, L Brands' market value is currently only about $ 6.5 billion, which is about $ 22.5 billion lower than its peak in 2015 (calculated at the current exchange rate of RMB 158 billion, and even close to $ 141 billion, even at the average exchange rate in 2015). The growth of other brands cannot offset Wei Mi's influence at all. Cutting off the product catalog, swimwear and apparel business and focusing on underwear will not reverse this downward trend. Behind these numbers are some brand taboos. First, Vermeer received the most criticism for discriminating against fat people. Perfect body. This is what Vimy has been instilling in consumers and is also used to please men. Therefore, the Vimi show attracts countless eyes every year, and the chest, waist, hips and legs are displayed in full screen, allowing blood to gush out. But Vermeer made an overly paranoid mistake. Vermeer is very strict with models. The aversion to "fat" has never stopped and never used large models. For "obesity" models, if not reduced, they will be evicted. One of Xiaomei's ex-girlfriends, Irene Heatherton, left because she was getting fatter (for ordinary people, she still maintained a perfect figure). In November 2018, former Secret Service executive Razek said in an interview with "Vogue" that Secret Service programs should not have "transgender people" and big models. At this point, colleagues have long been disgusted, and their mutual love with Vimy has continued. Many have blamed Vermeer's ads for conveying unhealthy attitudes to life, such as dieting, which actually affects adolescents' psychology. Product quality was questioned. Some people say that to be sexy, you can tolerate some quality issues. But more and more people no longer endure it. Before the 2017 Shanghai Auto Show, Vermeer had an accident. The first batch of underwear sold to the Chinese market was found to exceed formaldehyde standards. Prior to this, in 2008, some people had allergic symptoms due to long-term wearing of Vimy underwear. In 2018, a consumer revealed that a Vimi lingerie she bought wore a second metal buckle. This performance has to make people doubt the quality of Vimi products. 2019 is the biggest sex scandal in 2019, involving politicians, royalty and wealthy people in many countries, and the "Epstein" sex scandal that shocked the world has also implicated Vermeer. Former Vermeer executive Razek has a close relationship with Epstein, who had been a financial adviser to Lex Wexner for 15 years. ▲ The third person on the left, Epstein has more legends. Someone once saw Vimy's female model as a waitress on Epstein Island. The photo has nothing to do with it. The victim stood up and said that Epstein used his relationship with Vimy to force them to have sex. Hundreds of models Te together exposed the hidden rules to a bigger stain, because hundreds of models complained about the hidden rules before Vermeer completed the sale. According to the foreign media "New York Times", in the context of the Vimy show, Lex Wexner repeatedly said a lot of insults to the private parts of the supermodel, and often used his work to hijack. ▲ Lex Wexner on the left and Antiy Muies on the right, a model that has appeared on the Vimy show three times, revealed that he has always bid farewell to the Vimy show because he rejected Lex · Wexner's hidden rules (touching hands while inviting to dinner, trying to force a kiss, harassing one after the other).

In Razek, witnesses said Razek made indecent remarks to supermodel Bella Hadid. At the time, Bella's underwear on the stage was not the right size, and the staff was very anxious. However, Razek said underwear is not important, but Bella's chest must be guaranteed to appear on the runway. On the same day, Razek "touched" the crotch of a model. Russell James is a royal photographer, he can freely enter and exit the backstage of the Vimy show, and is also considered one of the hidden rules. With or without permission, he took photos of many models in the background. He also hosted a film exhibition and sold an album for thousands of dollars. The model being photographed is not paid. Some people say they dare to say it because Vimy Show has been cancelled. It was pushed down from the wall. This is completely different from their performance in the background. This seems ironic. In any case, these "stains" will not be removed soon because Vermeer has been sold. The Vimy era should also end. The future depends on the new owner. In the beginning, Vermeer succeeded because it made ordinary underwear fashionable, and continuously instilled the brand image and philosophy into consumers. However, it is no secret that Vimy has defended all this for decades. What do consumers need now? Consumers' pursuit of intimate apparel is no longer just so-called perceptual sensuality, but more emphasis on comfort, quality and self-pleasing, rather than just pleasing others. The so-called "perfect body" is not frozen, let alone defined by Vimy. The decline in the number of viewers on Vimi shows that people's preference for Vimi is rapidly declining. The Vimi show in 2018 only attracted 3.3 million viewers, down from 9.7 million in 2013, let alone 12 million in 2001. What is your opponent doing? A new group of forces is rapidly emerging to seize changes in consumer demand and increase their personality, comfort, exercise, health and rimlessness. For example, Avery, Rihanna's personal underwear brand Savage Fendi, Nike, Under Armour, Adidas, Luremont, Honda and other brands that are focusing on health and nature are rapidly eroding Wimi's market share. What impressed him was Lex Wexner's mantra: "Our main task is to understand women." He attributes Vermeer's success to discovering what they want faster than female customers. So, doesn't Vermeer know the market changes? Or do you not want to change at all? What's more frightening is that whether it's performance degradation, product quality degradation or negative scandals, everything points to the collapse of Vimi's values. But once suspicion arises, this is where the crash begins. Supermodel Kylie Claus terminated her cooperation with Vimy during normalization, saying, "I don't think it's a beautiful image that reflects who I am and what I want to convey to the world." Vimi's past success is due to the discovery of new consumer needs and adherence to corporate values. What is missing, however, is timely change. As a result, with the rapid failure of over-marketing, everything established in the past few decades has come to naught. Therefore, it is imperative to find the next secret: how to live. It does not lack brand influence. Only by excessively pursuing the brand effect, returning to the product itself down to earth, redefining the product, and defining sexy, can it completely change the brand image, win back consumers, and become synonymous with "sexy" again. Finally, Brother Dao wants to say two things: 1. Victory has no immutable secrets, nor is there ever a business tycoon. Success only represents the rights of the past. 2. For a long time, it is not enough to create and cater to the needs of a brand. You must also learn to respect, respect users, market, and values. I hope to see more exciting and different Vimy performances in the future! Reference: "Case Study | Decrypting Victoria's" secret "from 100,000 to 1 trillion business empires" Zhihu "Three billion dollars at a discount to acquire" sexy myth "Victoria's secret, what is the reason for the US private equity Sycamore? "Oriental Wealth" "Vimi Show Confirmed Cancellation!" At the peak, it sold 600 underwear per minute, and now has a net loss of 250 million US dollars. What happened? "China Business News" Depth | How did VICTORIA'S SECRET lose the market? "LADYMAX Fashion Headline" Can Victoria's Secret Renew Myth After Being Acquired? " "Clothing News" Victorian Sale: When Sexy Is No Longer a Secret "Aiwen Character 2019 Influential Venture Capital New Media. Pay attention to the Internet and other industries affected by the Internet. Committed to building China's most basic entrepreneurial community, providing advanced knowledge, content marketing, entrepreneurial community, investment and financing docking and resource connection services. How did S SECRET lose the market? "LADYMAX Fashion Headline" Can Victoria's Secret Renew Myth After Being Acquired? " "Clothing News" Victorian Sale: When Sexy Is No Longer a Secret "Aiwen Character 2019 Influential Venture Capital New Media. Pay attention to the Internet and other industries affected by the Internet. Committed to building China's most basic entrepreneurial community, providing advanced knowledge, content marketing, entrepreneurial community, investment and financing docking and resource connection services. How did S SECRET lose the market? "LADYMAX Fashion Headline" Can Victoria's Secret Renew Myth After Being Acquired? " "Clothing News" Victorian Sale: When Sexy Is No Longer a Secret "Aiwen Character 2019 Influential Venture Capital New Media. Pay attention to the Internet and other industries affected by the Internet. Committed to building China's most basic entrepreneurial community, providing advanced knowledge, content marketing, entrepreneurial community, investment and financing docking and resource connection services. how to live. It does not lack brand influence. Only by excessively pursuing the brand effect, returning to the product itself down to earth, redefining the product, and defining sexy, can it completely change the brand image, win back consumers, and become synonymous with "sexy" again. Finally, Brother Dao wants to say two things: 1. Victory has no immutable secrets, nor is there ever a business tycoon. Success only represents the rights of the past. 2. For a long time, it is not enough to create and cater to the needs of a brand. You must also learn to respect, respect users, market, and values. I hope to see more exciting and different Vimy performances in the future! Reference: "Case Study | Decrypting Victoria's" secret "from 100,000 to 1 trillion business empires" Zhihu "Three billion dollars at a discount to acquire" sexy myth "Victoria's secret, what is the reason for the US private equity Sycamore? "Oriental Wealth" "Vimi Show Confirmed Cancellation!" At the peak, it sold 600 underwear per minute, and now has a net loss of 250 million US dollars. What happened? "China Business News" Depth | How did VICTORIA'S SECRET lose the market? "LADYMAX Fashion Headline" Can Victoria's Secret Renew Myth After Being Acquired? " "Clothing News" Victorian Sale: When Sexy Is No Longer a Secret "Aiwen Character 2019 Influential Venture Capital New Media. Pay attention to the Internet and other industries affected by the Internet. Committed to building China's most basic entrepreneurial community, providing advanced knowledge, content marketing, entrepreneurial community, investment and financing docking and resource connection services. how to live. It does not lack brand influence. Only by excessively pursuing the brand effect, returning to the product itself down to earth, redefining the product, and defining sexy, can it completely change the brand image, win back consumers, and become synonymous with "sexy" again. Finally, Brother Dao wants to say two things: 1. Victory has no immutable secrets, nor is there ever a business tycoon. Success only represents the rights of the past. 2. For a long time, it is not enough to create and cater to the needs of a brand. You must also learn to respect, respect users, market, and values. I hope to see more exciting and different Vimy performances in the future! Reference: "Case Study | Decrypting Victoria's" secret "from 100,000 to 1 trillion business empires" Zhihu "Three billion dollars at a discount to acquire" sexy myth "Victoria's secret, what is the reason for the US private equity Sycamore? "Oriental Wealth" "Vimi Show Confirmed Cancellation!" At the peak, it sold 600 underwear per minute, and now has a net loss of 250 million US dollars. What happened? "China Business News" Depth | How did VICTORIA'S SECRET lose the market? "LADYMAX Fashion Headline" Can Victoria's Secret Renew Myth After Being Acquired? " "Clothing News" Victorian Sale: When Sexy Is No Longer a Secret "Aiwen Character 2019 Influential New Venture Capital Pay attention to the Internet and other industries affected by the Internet. Committed to building China's most basic entrepreneurial community, providing advanced knowledge, content marketing, entrepreneurial community, investment and financing docking and resource connection services. How did S SECRET lose the market? "LADYMAX Fashion Headline" Can Victoria's Secret Renew Myth After Being Acquired? " "Clothing News" Victorian Sale: When Sexy Is No Longer a Secret "Aiwen Character 2019 Influential Venture Capital New Media. Pay attention to the Internet and other industries affected by the Internet. Committed to building China's most basic entrepreneurial community, providing advanced knowledge, content marketing, entrepreneurial community, investment and financing docking and resource connection services. How did S SECRET lose the market? "LADYMAX Fashion Headline" Can Victoria's Secret Renew Myth After Being Acquired? " "Clothing News" Victorian Sale: When Sexy Is No Longer a Secret "Aiwen Character 2019 Influential Venture Capital New Media. Pay attention to the Internet and other industries affected by the Internet. Committed to building China's most basic entrepreneurial community, providing advanced knowledge, content marketing, entrepreneurial community, investment and financing docking and resource connection services.