Spending on certain luxury items and simple pleasures may be curtailed in an economic downturn, but lingerie sellers are looking to pump up sales by resorting to cheaper offerings to raise interest in their alluring undies.
While Victoria’s Secret (Stock Quote: LTD) and Frederick’s of Hollywood did not always directly compete with standards like Hanes (Stock Quote: HBI), Fruit of the Loom or even Jockey, now in this recession both are planning less-expensive lines to appeal to more cost-conscious shoppers, notes WalletPop.
In September, Victoria's Secret will offer a new "everyday" collection with bras for $29.50. (That compares with the average $45 bra, so when we say “cheap,” it's all relative.) But, even better, that same month the company’s Pink division geared toward younger shoppers will sell two Wear Everywhere bras for $32, according to The Wall Street Journal.
Additionally, once-bankrupt high-end lingerie maker Frederick’s of Hollywood has hired a former Wal-Mart executive to help tone down and market new lines of clothes, pajamas and underwear to be sold in discount retailers including Target (Stock Quote: TGT), Wal-Mart (Stock Quote: WMT) and Kohl’s (Stock Quote: KSS).
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