The Marketing Secrets of Victoria's Secret

Victoria's Secret's sales have risen 7 percent in the past three quarters to $4.33 billion after posting a record $6.1 billion in revenue for the year through Jan. 28. The lingerie chain's marketing approach is in sharp contrast to industry trends. Retailers, which may see online sales grow to 16 percent of $586 billion in revenue this holiday season, have increased digital efforts at the expense of more traditional advertising.

Victoria's Secret spends about $220 million a year on the catalogs sent to customers' homes, including postage, creative, printing, paper and circulation, the biggest expense of its direct business.