Chapter 27 High-end fashion
After that nightmarish month, the rest of Victoria's Secret was in shambles, with a purge of the board of directors and the arrival of a new majority shareholder, all too quickly and suddenly. Pen "Fun" Pavilion www.biquge.info
Before many people had time to react, the whole company had already changed, and CEO Leslie Weckersnay was also swept away, which made the whole company leaderless and chaotic for a while.
In the conference room of the Victoria's Secret branch in Manhattan, New York, a group of people were noisy and clueless, but at this time, a figure stumbled in, it was the company's front desk reception, and she hurriedly said to the conference room: "The people from Sequoia Capital have arrived." β
There was a sudden silence in the conference room, and they looked at each other for a moment, but then immediately stood up. At this time, a calm voice interrupted: "No need to greet us, we are in." β
Everyone looked back and saw a black-haired young man standing in the doorway, looking at the chaotic crowd with a slight smile. The voice just now is what he said.
"Are you from Sequoia Capital?" someone asked suspiciously, although there are some young mathematical geniuses in the financial industry, but this young demeanor does not look like those nerds who look a little dull.
Sid walked in with a smile but didn't answer, and the team members behind him also walked in, quickly occupying half of the conference room, which made Victoria's Secret cadres a little flustered.
Sid looked at the empty chair at the top of the long conference table and smiled slightly, "I'm a client of Sequoia Capital. β
As soon as this remark came out, it immediately caused an uproar among the cadres of Victoria's Secret, although some people have always suspected Sequoia Capital's motive for sniping at Victoria's Secret this time, but because Sequoia Capital is a private joint-stock company, not a listed company.
Therefore, if Sequoia does not announce it, others will not know about it.
Of course, there are no impermeable walls in the world, and there are no secrets that are always hidden.
So Sid generously admitted his identity, it was he who hired Sequoia Capital to hostilely acquire Victoria's Secret!
"You're Sid Leon!" finally someone recognized Sid.
Sid smiled and turned to look at the middle-aged man pointing at him, "Hello, Mr. Ed Ryzek. β
It turned out to be Victoria's Secret's marketing director, Ed Razek, Leslie Waxnay's confidant!
"Why!?" Ed Ryzek never dreamed that the man behind this series of nightmarish attacks would be a talented Hollywood director.
"Why?" Sid laughed, "does it even need to be asked? Because of course, it's too wasteful. β
"Too wasteful?" asked Ed Rezek, confused.
"Yes, it's a waste to see Victoria's Secret, an otherwise interesting company, being turned into a miasma by these mediocre people of yours. Sid said with a sneer, which immediately upset Victoria's Secret executives.
Although they were suppressed by the people on Sid's side, Ed Ryzek couldn't help but speak: "What nonsense are you talking about, Victoria's Secret has been developing very well before!"
"Do you care about that kind of thing better than development?" Sid waved his hand, turning his head to look to his side.
Then a young man with short hair stood up, his eyes were bright, his demeanor was capable, he was about twenty-seven or eighteen years old, and his silver-gray suit exuded an elite temperament, and at first glance he knew that he was a shrewd and capable man.
Sid nodded at him, and then the man turned to look at the Victoria's Secret executives: "Hello everyone, let me introduce myself, my name is Mark Lee, and I am the new CEO of Victoria's Secret. β
Mark Lee's words immediately stirred up waves among the Victoria's Secret people like a bombshell, and Sid looked at the Victoria's Secret executives who were in a mess with a smile, without the slightest intention of stopping.
"Bang!" Mark Lee slammed his hands on the conference table, and everyone suddenly stopped and looked at Mark Lee in unison.
Mark Lee looked at everyone with intent: "I know that everyone has a lot of questions now, but I promise that the chaos is only temporary, as long as everyone carries out their work, no one will be liquidated." β
Mark Lee's voice has a bit of a gentle temperament, giving people a gentle and cordial feeling, and hearing his words, everyone in Victoria's Secret can't help but feel slightly relieved.
Sid looked at Mark Lee and initially settled down in a moment, and couldn't help nodding secretly, he used the female devil Anna Wintour to poach the CEO of the Gucci fashion empire, who later reorganized the Gucci fashion empire, not to collect celebrities, but to really want a capable and responsible professional manager.
Then Sid looked at the other of him, and a tall blonde girl stood up, and her dazzling beauty suddenly brightened the room.
"Models?" muttered someone on the Victoria's Secret side.
"Hi, I'm Frida Janani and I'm the new Chief Designer. The blonde's words once again caused a commotion on the Victoria's Secret side.
But Sid didn't wait any longer, but knocked on the table, and everyone in the room immediately looked at him, Sid said with a slight smile: "There is another person to introduce to you, and then, we will explain to everyone what will happen to Victoria's Secret next." β
Sid's words were finalized, and another middle-aged man with blond hair stood up, "Hello everyone, I'm Todd Thomas, the new director of the show. β
"Director of the big show?"
An unprecedented title, well, it seems that Sid is going to bring them a sea change. Everyone kept their mouths shut and waited quietly for Sid to speak.
Sid looked at his assistant, who had already set up their laptops and projectors, and gave Sid a thumbs up. Sid then stood up, the lights in the conference room dimmed, and the projector came on.
A line of text emerged: "Change Victoria's Secret - From Affordable to Fashion!"
When everyone saw this title, they vaguely realized something, and Sid said: "Everyone present is a veteran employee of Victoria's Secret, so I think everyone knows a lot about Victoria's Secret." β
"Victoria's Secret's current business model, to put it bluntly, is a routine of marketing to create a brand and sell goods at a low price. Sid's words made many people nod secretly, Victoria's Secret, as a mid-range women's underwear, originally operated in this mode.
"Nowβthat's all going to change!" Sid's words as the picture on the projector immediately changed. A photo of luxury and prestige, a jeweled version of the temperament appeared on it.
The photograph is a blockbuster of standard high street fashion, with an unknown blonde model standing on it, wearing a delicate powder-blue lingerie with a wavy bra on the inside, but that's not the point.
The point is that she carries a shell-like back ornament on her back, which is also embellished with some pearls, and she is as delicate as a pearl in a shell.
This is clearly a hard photo of women's lingerie with a marine theme.
Everyone in Victoria's Secret couldn't help but let out an exclamation in unison, such a delicate and noble underwear hard photo is indeed incomparable to the current Victoria's Secret. In other words, all the women's underwear companies on the market are incomparable.
"From today onwards, Victoria's Secret is no longer the personal playmate of a cheap girl, but a rare luxury brand!" Sid's final voice completely changed the foundation of Victoria's Secret!
Even Victoria's Secret, which was successful for a period of time in "history", followed the business model of making brands and selling sales at a low price.
This is somewhat similar to fast-selling brands like Zara, H&M, and Uniqlo. On the one hand, Victoria's Secret grew rapidly in the first decade of the 2000s, but at the same time, it also bred a lot of congenital deficiencies and limitations.
First, it's not high!--Because it's actually still a cheap product, in terms of models, the attraction of powerful HF high-street supermodels is limited, so there are "historical" Ji Niangniang and Xiao KK have left one after another.
And Victoria's Secret, which was hit, gave the prescription - to cultivate its own models.
It's a pity that these self-cultivated models, which are called models when they are good, and wild models when they are ugly, are pure straw bales that they can't find a job in other houses except for Victoria's Secret. is propped up by such a model, which is not called a show, it is called walking on the street.
Second, the positioning is wrong!--In fact, in the final analysis, women's underwear is a product with a low standard price but a high profit. It sounds like it's going to be an easy business, so isn't everything OK?
But an easy-to-enter industry is bound to attract a large number of competitors, eventually turning it into a low-profit red ocean. Due to the successful development of this industry by Victoria's Secret, almost all subsequent clothing retailers squeezed in.
In the end, Victoria's Secret fell to the point of bargaining with other brands, such as the North American affordable brand Forever21, Banana Republic, and so on.
Thirdly, the quality of the products is not good!--If it is a low-cost fast-moving product, then fast-moving clothing brands like Zara and H&M sell the design and style of ready-to-wear, relying on a fast lead time (the time required from design to production and retail), so it doesn't matter if the quality is poor, it will be replaced directly if it is worn out.
No one wants to wear a piece of clothing for ten years, right? In addition, the fashion trend is changing faster and faster, and it is time to change it to a new one.
But if the quality of the underwear is not good, it is not good! The quality and functionality of women's underwear is directly related to the comfort and fit of the wearer. And to create good underwear, it takes time and cost.
Therefore, Bai's choice in front of Sid is obvious - is it to continue the old path and take the low-end market, or to be brave in innovation and open up an unprecedented high-end market for women's underwear?
The answer is self-explanatory.