Dive Brief:
- Victoria’s Secret has released a collaboration with womenswear designer Joseph Altuzarra with multiple seasonal drops throughout the year, according to a company press release.
- The first drop of the line, called Atelier Victoria’s Secret x Altuzarra, launched Thursday in select retail stores and online. The 11-piece collection ranges in price from $95 to $500 and in sizes XS to XL.
- The collection marks the lingerie giant’s expansion into ready-to-wear and includes a blazer, shirt, pants, and a slip dress. In the release, Alutazarra said the first drop gives classic wardrobe styles a twist.
Dive Insight:
Under new leadership, Victoria’s Secret has turned its focus to attracting younger consumers, and part of that plan involves gaining market share in apparel. In December, CEO Hillary Super said the company was focusing on its Pink apparel line, and in September, the company brought back VSX, an athleticwear subbrand.
Alongside the Altuzarra collection, Victoria’s Secret also launched a new collection within its “Very Sexy” line that includes a lightly lined bra, slips, corsets and skirts. In the release, the company said these pieces aim to complement the Altuzarra collection.
“Merging Victoria's Secret’s expertise in intimates with Altuzarra’s renowned creation of ready-to-wear styles allows us to offer a complete outfitting experience to our customers that embodies timeless glamour and sophistication like never before,” a Victoria’s Secret design spokesperson said in the release.
In Victoria’s Secret’s most recent quarter, the company reported $1.3 billion in net sales, marking a 6.5% year-over-year increase.
Meanwhile, Altuzarra has had a busy few months. The designer became CEO of his namesake company on New Year’s Day, a role he now holds in addition to being the label’s founder and creative director. The change came after retail investment firm P180 bought into the Altuzarra brand.
Altuzarra licenses its e-commerce operations to P180, and as part of the partnership, the brand is working on building a rental feature into its operations.
