- In March 2026, Lulu’s Fashion Lounge announced a new online wholesale partnership with Victoria’s Secret, launching an online-only Lulus dress assortment on the Victoria’s Secret digital platform alongside a dedicated Amazon storefront.
- This collaboration extends Victoria’s Secret’s online assortment into event-ready dresses, potentially enriching its appeal to fashion-focused, digitally engaged shoppers.
- Next, we’ll examine how adding Lulus’ online-only dress assortment could influence Victoria’s Secret’s broader transformation and omnichannel growth narrative.
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Victoria's Secret Investment Narrative Recap
To own Victoria’s Secret stock, you need to believe its brand reset and omnichannel push can offset tariff headwinds, mall exposure, and intense competition. The Lulus online wholesale partnership modestly supports the near term digital growth catalyst by broadening occasion-wear offerings, but does not materially change the key risks around tariffs and mall traffic.
The most relevant recent development alongside the Lulus partnership is management’s 2026 guidance for higher full year net sales of US$6,850–6,950 million and operating income of US$430–460 million. Together, these updates frame Lulus as one more test of whether Victoria’s Secret’s digital investments and product collaborations can translate into healthier margins and more resilient earnings.
Yet even if digital partnerships work, investors still need to watch how higher tariff rates could pressure margins and cash flow...
Read the full narrative on Victoria's Secret (it's free!)
Victoria's Secret's narrative projects $6.7 billion revenue and $143.6 million earnings by 2028. This requires 2.2% yearly revenue growth and a $7.8 million earnings decrease from $151.4 million.
Uncover how Victoria's Secret's forecasts yield a $31.20 fair value, a 30% downside to its current price.
Exploring Other Perspectives
Before the Lulus news, the most optimistic analysts were already baking in earnings of about US$197.7 million by 2028, but if reduced promotions backfire or digital partnerships underperform, that rosier view could look very different, so you should compare these upbeat forecasts with more cautious scenarios and decide which story fits your expectations.
Explore 6 other fair value estimates on Victoria's Secret - why the stock might be worth as much as 82% more than the current price!
The Verdict Is Yours
Don't just follow the ticker - dig into the data and build a conviction that's truly your own.
- A great starting point for your Victoria's Secret research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.
- Our free Victoria's Secret research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Victoria's Secret's overall financial health at a glance.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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