U.S. lingerie giant Victoria's Secret announced that it is planning to close 53 stores this year, due to declining sales.

 

美国女性内衣巨头维多利亚的秘密宣布，由于销售额下滑，今年计划关闭53家店铺。

 

Its parent company L Brands said that the fourth-quarter turnover¹ shows that sales at stores that have opened for at least a year fell seven percent. The company's other brand, Bath and Body Works, is doing well.

 

The brand has been struggling in recent years. Last year, it closed 30 stores.

 

Also, the brand's annual runway show has seen dropping ratings for years. Last year, 3.3 million people watched the fashion show, down from 5 million in 2017 and 6.7 million in 2016.

 

Victoria's Secret has also been eyeing expansion in China and moved its annual show to Shanghai in 2017. The brand has opened at least nine flagship stores in China. However, many Chinese customers have not shown as much interest as expected.

 

Many complain that the brand has not made any special fitting adjustments for its Asian customers, while others say the designs presented during its shows have become less attractive year by year.

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