Key facts
- Victoria's Secret's market cap has grown by $6 billion since October 2023.
- The company's stock has risen 69% year-to-date.
- Bra sales are the brand's number one growth driver.
- The Victoria's Secret Fashion Show livestream audience grew 33% year-over-year.
Victoria's Secret is experiencing a significant turnaround, with its stock climbing to record levels and sales surging after years of decline. The company's market capitalization has increased by $6 billion since October 2023, and its stock is up 69% year-to-date. This resurgence is attributed to a new strategy implemented by CEO Hillary Super, focusing on product innovation, particularly in bras, and a revitalized brand image that appeals to both younger consumers and those nostalgic for the brand's 90s heyday.
Analysts note that the company's business inflection began with Super's appointment and a focus on "supercharging bras," which remain the brand's top growth driver. Chief Creative Officer Adam Selman has also played a key role in reinventing the brand's aesthetic. The company's comeback is also partly psychological, with the recent Victoria's Secret Fashion Show drawing a larger livestream audience than the previous year, signaling a return to being perceived as sexy, fun, and aspirational.