The fact that Victoria’s Secret recently committed the same “woke” error as countless businesses before it and made a very poor business decision founded on “wokeness” proves again that they did not act quickly enough to avoid shooting themselves in the foot financially.
Here’s what one of the most popular lingerie companies in the world did.
They substituted the woke, pink-haired, and anti-American soccer player Megan Rapinoe and a host of “plus size” models for its incredibly stunning “angels.”
When most American women buy lingerie, they don’t want to appear like “plus size” models or Megan Rapinoe. This is just the reality of things, and Victoria’s Secret’s attempt to go woke has come with significant drawbacks.
As a result of Victoria’s Secret stock’s sharp decline and the company’s deteriorating financial situation, a number of executives were let go, according to a report from the New York Post.
“Shares of Victoria’s Secret tumbled on Wednesday after the lingerie giant said it’s laying off 160 management-level employees at its Ohio headquarters.
“The fired workers in ‘management roles’ represent 5% of Victoria’s Secret home office headcount and will save about $40 million, the company said.
“Shares fell 4.3% to $26.80 on Wednesday.”
The company also named a new chief executive, Amy Hauk, who’d led the company’s teen-focused Pink label since 2019. Hauk will be CEO of both brands now.
And why might that have happened? Well the NYP hints at the same issues mentioned above, saying:
“Now it offers plus sizes and features plus-size models in its marketing as well as selling masectomy bras for the first time. It also launched its first-ever Mother’s Day campaign last year. Its stores are brighter and it’s championing more causes highlighting women’s achievements, tapping famous athletes like Megan Rapinoe and actress Priyanka Chopra Jonas to represent the brand.”
And so it embarked on the path of “wokeness,” replacing the angels with pink-haired Megan Rapinoe.
Whether or not the sex-appeal image that Victoria’s Secret and its models produced was feasible for the typical American woman, the company’s entire business model was built on it. That is now gone when its woke executives drove the angels back to Earth, and their stock price fell along with them.
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