These up-and-coming lingerie brands should terrify Victoria’s Secret (LB)

Lingerie giant Victoria’s Secret has been accused of failing to appeal to its female shoppers with racy ad campaigns, relatively steep pricing, and rail-thin models.

In its parent company’s most recent earnings report, released Wednesday, same-store sales were down by 5% at Victoria’s Secret stores.

Increasingly, brands such as American Eagle‘s body-positive underwear store, Aerie, have swooped in and taken market share away from Victoria’s Secret. Aerie has seen 12 consecutive quarters of same-store sales growth; its same-store sales were up 27% in the fiscal year 2017 (first-quarter earnings of 2018 have not yet been reported) and this is becoming a major concern for its main rival.

“Over the past few years, we believe the competitive landscape in lingerie (in constructed, un-constructed, and Sport) has evolved. In addition to players such as Aerie (AEO) who are offering a very clear brand proposition, new digitally-native entrants are entering the arena,” Cowen analyst Oliver Chen wrote in a note to investors in March.

Here are some of the hottest new companies and collections that could pose a threat to Victoria’s Secret: