Victoria’s Secret has opened a store in China. Fronted by an iconic pink glass facade, the four-storey Victoria’s Secret store occupies 2,500 sq. mt. This is Victoria’s Secret first store in China. Prior to this, the US brand had only operated concept stores in China, selling branded accessories. By the end of 2017, Victoria’s Secret will open one more store in China and will host a lingerie and underwear show. Almost two decades of breakneck economic growth and increasing prosperity have got Chinese women accustomed to western tastes and fashion sensibilities.
The opening of this store is expected to satisfy Chinese women’s desire to keep up with the pace at the forefront of international fashion. Luxury lingerie and high quality functional products are becoming increasingly popular among Chinese women. International brands see China as a priority to help bolster overall sales given a fairly bleak global outlook. Top Italian luxury lingerie maker La Perla, which has eight stores in China, is planning additional outlets. Germany’s Triumph too is adding stores.
China’s market for women’s underwear is expected to have a retail value of 25 billion dollars by 2017 - double that of the United States - and is expected to grow to 33 billion dollars by 2020.