Victoria's Secret finds success in sportswear

Victoria's Secret first launched a sportswear line about two years ago, and in that time, the sales have increased to about $200 million to $250 million a year, reported Business Insider.

Analysts say the brand could eventually make $1 billion annually.

With such growing success, the retailer plans to expand its physical footprint by adding 150 more stores this spring.

Victoria's Secret controls 30 percent of the lingerie market and has millions of customers. With the new sport line, the retailer puts itself in direct competition with Lululemon (NASDAQ:LULU), selling similarly priced bras and leggings.

As athletic apparel—also called "athleisure"—continues to trend among consumers, other retailers are launching new lines to meet the growing demand. For example, Nike (NYSE:NKE), Under Armour (NYSE:UA) and Dick's Sporting Goods are each expanding their womenswear selection.

Victoria's Secret announced a cleansing of its apparel division in response to sluggish sales last spring. The brand eliminated categories including dresses, sweaters, jeans and shoes from its Victoria's Secret Direct business, but the retailer still hopes to find continuing success in trendy sportswear.

For more:
-See this Business Insider article

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