Wei Secret Marches In Latin American Market To Open A Store In Mexico

At the end of last month, the United States

The secret of Vitoria opened the first full-scale product store in Mexico. According to the spokesman, it also marks the beginning of its official entry into the Latin American market.

"They want to shake many brands," MariaEliazar, an underwear buyer in Mexico, described the arrival of Victoria, and said that competitors such as VickyForm and Leonisa have finalized the latest competition strategy to resist the strong invasion of Victoria.

Victoria's store in Mexico is a collaboration between LBrands group and Mexico joint venture company GrupoAxo. GrupoAxo operates 17 beauty store stores in Mexico, operates 3 independent stores in Chile, and chain corporation Falabella in Chile also owns stores.

According to Wei's company, the flagship store in Mexico will sell a full range of products including BodybyVictoria, VerySexy, DreamAngels, Bombshell, cotton underwear and VictoriaSport sports underwear.

In addition, the store will also sell teenage series Pink and brand perfume products, as well as Pink series of make-up products and so on.

According to the sales director of GrupoAxo, the retail price of underwear is up to $80, while the price of a bottle of perfume is up to $85. All products sold in Mexico are imported from the United States. The new time will be shortened to American stores, and Mexico stores will also be new in the new month.

Wei Mi company revealed that the decoration design of the store is modern and mature, combined with the large pink background, and there is a huge screen in the store showing the latest underwear show in the latest season.

At present, both Victoria and GrupoAxo have not disclosed the store's sales expectations or other areas' future development strategies.

Although the arrival of Victoria's secret has caused many local underwear retailers in Mexico to feel pressured, the company has also said that it is also facing the troubles of slow economic growth and poor performance itself.

MariaEliazar added that Mexico women are very obsessed with products of Wei MI, but because Mexico is still the majority of low and middle end consumers, the price of their products is so high that many local female consumers are deterred, so the VickyForm with lower product prices will continue to take up most of the products.

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Although VickyForm's design capability is not as good as that of Victoria, the company has said it expects to open 2500 stores in 2018.

MariaEliazar said that VickyForm had tried to replicate the mode of Victoria's secret, but the company did not understand the operation concept of Victoria, so it gave up its replication mode. VickyForm expects underwear sales to increase by 20% this year.

VickyForm and Leonisa are Mexico's fast-growing underwear brands.

Leonisa has revealed that next year it will launch a more daring sexy underwear series, which has performed well in Mexico this year.

In addition, there are other brand names in Mexico, such as KibysandIlusion and the new high-end underwear brand Florentina.

Mexico retail consultant MiguelAngelAndreu stressed that price is indeed an obstacle to Victoria's market in Mexico, because only 10% of female consumers in Mexico are willing to buy an underwear at a price of more than 100 US dollars, and the reason why Wei Mi opens shop in Mexico is that she has a group of consumers who have visited the United States and have a certain understanding of their brands in Mexico.

MiguelAngelAndreu said that from January to July this year, Mexico

The retail market recorded an increase of 16%, of which about 12% came from local brands and 4% from imported brands.