Victoria's Secret is bidding goodbye to its catalog which has served as the guide for many customers in buying the brand's products. For those wanting to see what Victoria's Secret is offering, they can simply check online through its official website and social media accounts.
New York Daily News said the catalogs were introduced in 1977 and were sent through mail to their customers. Parent company L Brands said they decided to shut down the catalog since most of the buyers are now looking at products online.
The company estimated they could save around $150 million by stopping the catalog since this is the cost of producing about 300 million copies every year. Their catalogs also reportedly did not have a lot of impact on their sales.
Victoria's Secret Is Getting Rid Of Its Catalog https://t.co/hhPj6jYb53 pic.twitter.com/p6NQfrSCQw
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L Brands finance chief Stuart Burgdoerfer explained that the move was part of their strategy to work in the context of this year. "Would you start with one of your major ideas being a paper-based catalog sent through the mail as one of your key, if not your key, marketing activity for a global brand?" asked the finance chief. He added that their financial evaluation convinced them that they made the right decision.
This decision, as per Cosmopolitan, is another major move from the lingerie retailer who earlier announced that they would stop selling swimsuits, shoes and accessories. It explained that the company wanted to focus on its main business which is selling bras, underwear and beauty products.
Stopping the sales of these products meant saying goodbye to more than $500 million sales for the company. However, analysts said that the company can offset the said loss on the other categories of products they are selling.
Despite the announcement, Glamour said Victoria's Secret offered good news to its customer with the sale of their 2016 swimwear collection. Buyers can save as much as 60 percent off swimsuits.
