- ThirdLove, one of Victoria's Secret's biggest rival in the lingerie market, was launched by husband and wife duo David Spector and Heidi Zak in 2013.
- The company, which is focused on more natural, body positive marketing, has been a notable foil to the struggling Victoria's Secret as of late.
- At the eTail West conference in Palm Springs, California, ThirdLove cofounder David Spector spoke about his vision for the company when it was founded.
- "And so when [investors] would say to us, 'Well what do you want to be in seven or eight years?' I would say, 'Well, we plan to put [Victoria's Secret] out of business,'" Spector said.
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When ThirdLove was founded by husband and wife duo Heidi Zak and David Spector in 2013, the aim was not to go for tried and true. Instead, ThirdLove took an entirely different approach to the lingerie market, marking a clear differentiation from the then-industry leader, Victoria's Secret.
"They thought we were crazy," said ThirdLove cofounder David Spector during a fireside chat the eTail West conference in Palm Springs, California. He was talking about what it was like to try and sell investors on his company, which was being promoted as having a focus on diversity and authenticity.
The Victoria's Secret business model has generally been more focused on selling fantasies and has been criticized for its overtly-sexualized image in the past.
But when ThirdLove was getting off the ground, Victoria's Secret was the top dog in the market. And Spector and Zak were looking to change that.
"And so when [investors] would say to us, 'Well what do you want to be in seven or eight years?' I would say, 'Well, we plan to put [Victoria's Secret] out of business,'" Spector said.
Some years later, Spector's dreams may have come to fruition. Far from the market leader it once was, Victoria's Secret is currently in a downward spiral as it loses relevance among a consumer base that is turning to brands that champion more body positivity.
L Brands, Victoria's Secret parent company, is selling a 55% stake of the lingerie brand to Sycamore Partners. L Brands longtime CEO Les Wexner recently announced he was stepping down after six decades with the company.
ThirdLove cofounder Heidi Zak recently commented on the sale of Victoria's Secret and described it as a "positive step" for the industry, which has been "dominated by unrealistic ideals and images of what femininity and sexy should be."
ThirdLove also took out a full-page ad in The New York Times in November to call out controversial comments made by L Brands' former CMO Ed Razek.
Spector said it has been remarkable to see how far his company's rival has fallen in the last few years. Though still competitors, he said he believes that at its core, ThirdLove is fundamentally different from Victoria's Secret.
"We're really proud of our team and what we've accomplished to date," Spector said. "But we're just getting started."