“The conversation right now is more about bodies than it is about underwear,” she said. “People are defining for themselves where they fit in society, and they don’t have to settle.”

At Victoria’s Secret, sentiments aren’t evolving. Nearly every style comes with a push-up option, from unlined lingerie to sports bras.

“Women want to project a figure,” said Wexner, 80, in a recent interview in the Financial Times. Wexner and other L Brands representatives didn’t respond to interview requests for this story. “You wouldn’t have to be James Bond or Dick Tracy or the head of the FBI,” to know that breast-augmentation is “a popular thing,” he said.

There is still a lot to like about Victoria’s Secret, experts like Corlett and Harrington say. In particular, the store cares about service, has a national presence and is focused on one kind of item at a mid-range price point. Women work the fitting rooms, available to measure customers, pull different styles and offer a t-shirt to put on over the product to see how it might fit under clothing. This service, which many older women sought from department stores, is an in-person experience the retailer should try to replicate online and market to its shoppers, WSL’s Corlett said.

“Once you get past the bombshell windows, they care about fitting you well,” Corlett said. “They’re not inexpensive, but they wear well and they fit well -- and maybe that’s more the side of the store they should be playing up.”

To The Lingerie Addict’s Harrington, one quick fix for the retailer would be to expand its size offerings as many online and department-store brands have to fit more bust sizes.

“They just actively avoided doing anything to make the brand more inclusive, and that’s becoming glaringly obvious now,” Harrington said. “What are they waiting for?”

This article was provided by Bloomberg News.

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