February 29, 2000 02:35pm
Victoria's Secret show going to Cannes
Source: Reuters
(CLEVELAND, OH) -- Intimate Brands Inc. (NYSE:IBI - news), which specializes in retailing intimate apparel, is taking its glitzy Victoria's Secret Fashion Show to the Cannes Film Festival this year and broadcasting it live over the Web as part of a plan to double e-commerce sales this year.
The Columbus, Ohio-based retailer-- which brought Wall Street to a virtual halt with last year's show -- said on Monday the show will be Webcast live during the festival on May 18, 2000.
IBI made the announcement in a statement discussing its expansion plans for its e-commerce business in the current fiscal year. The company had total sales of $4.51 billion in the year ended Jan. 29, 2000, up 17 percent from those for the prior year.
It did not break out the e-commerce sales, but a spokeswoman for the company said "our goal in 2000 is to double our Internet sales.
``We are using VictoriasSecret.com to pioneer a prototype online business,'' said Debbie Mitchell, IBI's vice president of communications and investor relations.
The company did say that international e-commerce sales account for an average 7 percent to 9 percent of the company's .com sales, with orders coming in from over 160 countries.
The fashion show will be part of a unique partnership with the American Foundation for AIDS Research and Miramax Films and be staged in conjunction with a Cinema Against AIDS event, it said.
In February, 1999, IBI stunned the fashion world by broadcasting its fashion show of frilly lingerie over the Internet live from Wall Street.
IBI said this year the show will have a new transaction feature that will allow viewers to simultaneously view the show and order certain merchandise.
The feature will be available using Microsoft Corp.'s (NasdaqNM:MSFT - news) Microsoft Windows Media Player and Yahoo Inc.'s (NasdaqNM:YHOO - news) Yahoo! Broadcast, a provider of streaming services. It said Yahoo! Broadcast has lined up additional capacity from other streaming providers to help support the Webcast.
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