Victoria’s Secret Just Went Private. Lack of Diversity and Inclusion Ring A Bell?
In November 2018 I created an Instagram post about how Thirdlove placed a full ad in NY Times of a note written to Victoria’s Secret about their lack of diversity and inclusion.
Thirdlove CEO, Heidi Zak, made a bold move calling out Victoria’s Secret like this (and a genius PR move)!
It’s about time someone did.
We have the entire contents of the letter for you here!
Fast forward to now, February 2020, it was announced that Victoria’s Secret is going private.
L Brands confirmed it is selling the majority (55%) stake in struggling Victoria’s Secret (including the Pink brand and Victoria’s Secret Beauty) to private equity firm Sycamore Partners (chainstoreage.com).
There have been countless stories about executives at Victoria’s Secret making crude and derogatory remarks regarding why they don’t care about diversity and inclusion in their retail chain.
Personally, I haven’t shopped at Victoria’s Secret in probably over 5 years, and when I did, it was strictly for cotton undies. I never wanted to spend time in their store and browse. It never felt like “my kind of store”.
Especially after hearing more about what their brand is really about behind the scenes, I am happy to continue staying away!
One of my favorite lines from the article about Victoria’s Secret selling to Sycamore Partners is this:
“Ultimately, that is the price of being asleep in a market that has become more woke.” – Analyst Neil Saunders, managing director of GlobalData Retail
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Diversity + inclusion is treated like a trendy thing to do, talk, and advertise about right now, but it’s absolutely not a trend – it’s a part of life.
I’m sure there will be more stories like this of retailers suffering because they are purposefully and unapologetically not including diversity and inclusion in their strategies.
And I’m talking about more than just having models of different ethnicities.
If the average American woman is sized 16 – 18, brands who don’t sell these sizes – wouldn’t they now actually be niche brands, versus years ago when they were considered “for the masses” ?? Funny how that works?⠀⠀⠀