Bonjour,
My mom gets that Boys Club has evolved.
Have a good weekend!
ily,
On Sunday, Victoria’s Secret had its annual fashion show, where some of the most beautiful women on God’s green earth walked a runway in lingerie and angel wings. Kylie Jenner made an appearance in a $50 million bedazzled bra, and 3.64 million people watched live, up 33% from last year.
If you were a woman growing up in the early 2000s, the models of the church of VS were the cornerstone of your idea of beauty. They became household names and paved the way for a whole cottage industry of tummy tea (aka rebranded laxatives, but that’s for another newsletter).
The show was cancelled in 2019, and in 2024 Victoria’s Secret announced it was coming back. That day, the stock closed at $21.56. On Wednesday, it closed at $89.15, coming in at 4x where it was 2 years ago.
The company and stock price are thriving for a variety of reasons which I’ve talked about here, but one of the reasons is that boobs are back.
Boob jobs in the US were up 11% last year to 304,234 procedures, making them the most popular cosmetic surgery for women in America. More women are losing weight rapidly, losing their breast and going under the knife to get back in fighting shape.
But Victoria’s Secret isn’t the only one profiting the season. Let’s venture further down the stack than the bra and get into the implant.
Motiva, the implant brand that specializes in smaller, less invasive surgery (which is the trend these days), got FDA approval in 2024, and its US sales have since more than doubled.
Next, the silicone. Most of the implant industry buys its medical-grade silicone from one company, NuSil, which is part of a larger lab-supply company called Avantor. Avantor’s stock has more than doubled in the last six months.
Some of you may be thinking:
But there’s a big, big world out there! Anyway, I think you should get your tits done if you want to. Now you just know who might be profiting when you do.
