Victoria’s Secret to roll out cheaper merchandise

New York City Victoria's Secret, a division of Limited Brands, will introduce cheaper merchandise in coming months as the retailer grapples with the ongoing cutback in discretionary spending during the recession.

“We believe we have an opportunity to attract an incremental customer by increasing our product offerings in opening price points," Limited Brands chief executive Sharen Turney said a conference call with analysts on Wednesday.

Victoria's Secret will introduce a new bra collection for everyday wear in September priced at $29.50 and a different collection under its Pink line where shoppers can get two bras for $32 total.