New York — The Associated Press Published on Thursday, Nov. 05, 2009 2:02PM EST
Victoria's Secret is hoping a new push-up bra intended to boost women's busts as much as two sizes also will enhance its bottom line this holiday season.
The lingerie chain, owned by Limited Brands Inc. LTD-N , will begin promoting its “Miraculous Bra” this week; it sells for $48 (U.S.) in solid colours and $52 in leopard print.
“What the customer told us is ‘We love push up,”' Victoria's Secret CEO Sharen Turney said in a meeting with investors last week. “And we said, ‘OK, we have the new Miraculous Bra.”'
Ms. Turney said the latest push-up's debut this fall has been positive.
“We cater to a young customer, and they would come into the store and start texting their friends, ‘Oh my God, you have to come in here and try this bra on.”'
Analysts also say the bra could be a big seller.
“We believe this could be a significant launch on early testing,” said BMO Capital Markets analyst John Morris.
Seeing consumers hunt for bargains during the recession, Victoria's Secret is offering more matching panty-and-bra sets and sleep sets for the holidays, as well as lower-priced gift sets, including a $15 beauty pack. And it plans to launch new items nearly every week, including new fragrances.
Retail analyst Jennifer Black applauded the approach.
“Victoria's Secret stores look the best we have seen since we began covering the company nearly 17 years ago,” she wrote in a note to investors.
Victoria's Secret is preparing to open its first stores in Canada in 2010, and another of its sister chains, Victoria's Secret Pink, already is launching outlets here this fall.
Victoria's Secret will broadcast its ever-popular fashion show, this year from New York, on Dec. 1 on CBS.
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