Victoria’s Secret, the world’s largest lingerie brand, is making a strategic move by opening a new flagship store in Melbourne, Australia. This expansion is part of the company’s efforts to capture a significant share of the thriving Australian lingerie market, which is valued at $783 million.
The new store, set to open in the Emporium Melbourne shopping center, is envisioned as the ‘store of the future’ by Victoria’s Secret. It will not only offer a wide range of bras but also feature a beauty bar and showcase the brand’s fragrances, body care products, lounge wear, and the popular PINK brand.
Valiram, a retail conglomerate, is bringing Victoria’s Secret to Australia. The brand, founded in 1977 in California, initially gained attention for its innovative approach to lingerie retail, including offering bra fitting services for women post-mastectomies. With a history rooted in addressing a gap in the market, Victoria’s Secret has grown to operate 1,350 stores globally.
While the brand’s annual fashion shows, once a hallmark of its marketing strategy, have drawn criticism and were discontinued in 2018, Victoria’s Secret continues to evolve its retail experience. Mukesh Valiram, Executive Director of Valiram Group, emphasized the new store’s open and inviting design, aimed at creating a comfortable and engaging shopping environment for customers.
In the competitive Australian lingerie market, Victoria’s Secret faces rivals such as Cotton On Body, Honey Birdette, and Hanes, the parent company of Berlei and Bonds. Analysts from Ibis World project that the industry will see continued growth, despite challenges from online retailers and department stores.
With global sales nearing $1 billion in 2021, Victoria’s Secret has demonstrated resilience and adaptability in the ever-evolving retail landscape. The brand’s expansion into Melbourne signifies a strategic investment in capturing the preferences of Australian consumers and strengthening its market presence.
As Victoria’s Secret prepares to unveil its new flagship store in Melbourne, the lingerie giant is poised to showcase its commitment to innovation, customer experience, and product diversity. The opening of this flagship store marks a significant milestone in Victoria’s Secret’s expansion strategy and underscores the brand’s ambition to solidify its position in the competitive Australian retail market.
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