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Complete 8 pages APA formatted article: Victoria Secret store in Geneva Switzerland.
Complete 8 pages APA formatted article: Victoria Secret store in Geneva Switzerland. From this paper it is clear that Victorias Secret products are purchased mostly through retail stores, online, and through the Victorias Secret catalog. Victorias secret has more than 1000 branches in its home country, the US, and for a long time it was engaged in domestic business due to the large size of its home country. Internationalization has recently appeared in the countrys agenda for sustainable development and has ventured into markets in London, Canada and the UAE. Its absence in the European market and the lack of affordable and sexy night wear in the same market develops into an opportunity for Victorias secret to develop a niche there which will be analyzed in this proposal.
According to the paper Victorias secret was founded in Stanford by Roy Raymond in 1977. He took the opportunity of changing underwear into fashion and was largely successful. His shop gradually expanded into 6 stores and was finally sold to Limited Brands for US $ 4 million. Growth with Limited Brands was unprecedented and the company diversified its business portfolio to include swimming suits, dresses, jeans, shoes and beauty products.
Currently the business consists of 3 different segments which include Victorias secrets stores, Victorias secrets direct (online and catalogue) and Victorias secrets beauty. It has become one of the largest lingerie retailers in the US and a store is present in almost every large shopping mall. It is time to expand its horizons and change its strategy from market saturation to discovering and penetrating new markets. Since markets in Asia and Europe are already being researched upon, opening of a store in Geneva is currently under study. Switzerland is a country with a population of 7.5 million and has one of the highest per capita GDPs in the world. The disposable income among citizens makes it a particularly attractive market for American brands. .
