20150115_victoriassecret_reuters.jpg (Photo : Reuters )
After first flagging a presence in China in early 2014, the Victoria's Secret (VS) luxury brand for women announced the opening of its first mainland outlets on Tuesday.
Three stores were launched on Monday in Shanghai's Raffles City, Shenzhen's Yitian Holiday Plaza and Guangzhou's Taikoo Hui.
Parent company L Brands explained in an email statement that the "VSBA" stores, like those found in airports, will only sell beauty products at this stage, focusing upon "an iconic, fashion-forward range of beauty products and accessories designed for the modern jet-setter."
The range of available fragrances will include the brand's own Bombshell and Fantasies, which Chinese consumers will be able to eventually shop at eight outlets, as five more VS flagship centers will be opened in late January.
Speaking to analysts in Feb. 2014, Nicholas Coe, an L Brands executive, described China as "an incredibly significant market" for the parent company. Even though China is responsible for a comparatively minor facet of the global lingerie industry, analysts have observed an increasing interest among buyers.
According to cloth.hc360.com, a Chinese clothing retailer, the total revenue for China in 2010 totaled approximately $3.9 billion, from a worldwide market worth more than $30 billion, while sales of lingerie garments have been rising up to 20 percent on an annual basis.
However, Ilse Metchek, president of the California Fashion Association, explained to the media this week that entrance into the Chinese market is not straightforward for overseas brands:
"In China, stores only show the brand names of the stores themselves, not the individual designer brands. The West must come to terms with China's method in order to be successful."
The upcoming VS store openings will be located in Chongqing, Guangzhou and Chengdu.
