MM: BJ, let’s begin with a short introduction to you, about your job function and company.
BG: Okay. I’m BJ Gray. I work at Victoria’s Secret in the Store’s Channel. I’m the head of marketing operations, the tactical side of marketing. We manage all the stores projects from inception to execution including POS for windows, in-store, PR, advertising, CRM, photo retouching, DAM, business process management, and implementation. My team also oversees all master marketing calendars and the entire annual marketing budget.
MM: Would you explain various operations within Victoria’s Secret and, in particular, those operations for which you have direct responsibility?
BG: First, Victoria’s Secret is part of Limited Brands. Victoria’s Secret generates the most revenue for Limited Brands and consists of two channels: Victoria’s Secret Stores and Victoria’s Secret Direct Channel with an on-line store and catalog. I have responsibility for the marketing operations, process improvement, budgets, and production for Victoria’s Secret stores channel.
MM: How large, as percentage, is the direct and web channel versus retail store?
BG: The Stores channel is double the size of Direct. Stores revenue was $3.6 billion last year and the Direct channel was around $1.7 billion last year.
MM: So the stores constitute the primary revenue driver, and direct and web constitute important but secondary channel.
MM: About how many product SKUs are in your overall mix? Whether store or online?
BG: That’s a giant number for me to try to figure out. Let me think. It’s huge. We have at least 60 different styles of bras that come in about 8 colors at multiple sizes and we have over 380 panty styles. The Direct channel would have a greater assortment, plus apparel.