Ex Googlers,husband-and-wife, built the biggest competitor to Victoria's Secret
David Spector and Heidi Zak, ex googlers launched ThirdLove which caters to undergarment and lingerie needs of women with different body shapes. The site is designed to let women find the right fit by just few clicks of a button. The models showcasing the collections are not some skinny figures whom you would envy, but those whose body types match with regular woman who visit the website. This let's a woman feel comfortable about their body. ThirdLove’s growth attracted sniping from the category’s market share leader, the Victoria’s Secret CMO, who trashed its inclusive marketing in a November 2018 interview where he said that no one would watch plus-size or transsexual models in a fashion show. This worked in the favor of ThirdLove and lead to a huge PR win when it responded with a full-page ad open letter in The New York Times. "
Media Channels: ThirdLove spends most of their budget on TV advertising. They spent $13.2 billion last year. Their strategy is to keep their creatives running on OTT service providers where monitoring and analysing the data is easy. They are measurable and targetable.
Strategy: As both of them hail from advertising business from Google, ThirdLove has a strategic point of view towards testing for new data. “The biggest thing I learned [at Google] was about testing and optimization,” Zak said. “Even if something didn’t work years ago, we’ll test again. Your environment is always changing, the company is changing and platforms are changing.”
“We are one of the most capital-efficient companies out there,” Spector said. “Having a sustainable brand that could stand on its own two feet was very important to us.”
Third Love is backed up by Tim Armstrong, Spector's former boss, founder of DTX Company. DTX company ventures to spend on B2C businesses, is a inspiration to many B2C US startups.
The couple are pretty confident that ThirdLove will stand it's ground in the market. Because, once a user finds the right bra and is comfortable with the way one surfs through the website, she is going to come back once again. However, Victoria Secret still holds 40% of the market share, which is the single compitor in lingerie market for ThirdLove in the US.
Source: AdWeek and Forbes