A former Victoria’s Secret exec has a new $35 bra company — and it wants to avoid one of retail’s deadliest mistakes


Lively

Lively is a lingerie, swimwear, and fragrance startup launched by Victoria’s Secret alum Michelle Cordeiro Grant in 2016.
The store sells more than 50 different types of bras, including bralettes, t-shirt bras, push-up bras, and plunge bras. Each one costs $35.
Cordeiro Grant said the company will never offer markdowns on its bras.

If Michelle Cordeiro Grant learned one crucial lesson from her five-year stint at Victoria’s Secret, it was that discounting doesn’t pay off.

Cordeiro Grant, 37, is the brains behind the direct-to-consumer lingerie startup Lively, which launched in April 2016 and is taking the industry by storm with its $35 bras.

So far, the company has raised $8.5 million in funding from investors including GGV Capital, a growth fund that has also backed Slack and Airbnb.

Its bras come in a mix of styles, from bralettes and t-shirt bras to push-up bras and plunge bras, in 26 different sizes. It also recently branched out into swimwear and created a fragrance for women. All these products have set prices: bikinis cost $45, a one-piece costs $65, and its fragrance costs $55.

Its bread and butter is still bras, however, and it prides itself on offering an innovative style that is somewhere between lingerie and athleisure, which the brand has coined “leisurée.”

The Lively brand was built on social media. New products were created based on feedback from its Instagram and Facebook followers.

Cordeiro Grant refers to these people as her “community,” and the brand is built around their opinions, something that Victoria’s Secret lacks, she said.

“Les Wexner [longtime CEO of L Brands, the parent company of Victoria’s Secret] was really amazing at teaching us the power of brand storytelling and cohesiveness,” Cordeiro Grant said. “What I thought was lacking was the idea of community.”

The community is also a reason why the company will never offer markdowns.

“We don’t do sales, we don’t do markdowns,” Cordeiro Grant said. “Our pricing is simple.”

Lively doesn’t advertise its prices outright. Customers would only find them once they click through the website.

The goal is to build a cult following of customers who want to shop the brand long-term rather than be lured in by discounts in the short term.

“If you have women that love your brand for what it stands for and they are so enamored by the price, they share and shout that …read more

Source:: Business Insider

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