Victoria’s Secret, an American designer, manufacturer and marketer of women’s premium lingerie, womenswear and beauty products, will open its flagship store in Scotland this year.
The first store of the lingerie retailer will come up at a place which was earlier owned by H&M shop on Buchanan Street in Glasgow. Markedly, Buchanan Street is one of the main shopping thoroughfares in Glasgow, the largest city in Scotland.
A limited product range of the brand is currently available in Glasgow at a small unit within the airport in the city.
The first high street store for Victoria’s Secret in Scotland will serve non-travelling potential customers in the region.
The Glasgow City Council has also granted permission to bring necessary changes at shop front this week only which was sought in July 2017. The retailer is likely to start work soon. However, it is yet to finalise the opening date of the Scotland store.
The opening of first high street store in Scotland will be an important addition as Glasgow is known as ‘style mile’. The arrival of Victoria’s Secret will intensify competition for other lingerie retailers here.
Markedly, the lingerie brand emerged as a favourite among millennials in a report published by Condé Nast in association with Goldman Sachs – The 2017 Love List Brand Affinity Index. It is an annual research study that examines millennial and Gen Z consumer preferences in fashion, retail and beauty categories.
Further, Victoria’s Secret owned by lingerie label L Brands, which currently runs 3,080 speciality stores in the US, Canada, the UK and the Greater China, expects its 2018 earnings per share (EPS) to be between US $ 2.95 and US $ 3.25, including EPS between US $ 0.15 and US $ 0.20 in the first quarter of 2018.