此論文為質性研究，探討提升台灣女性內衣公司 La Felino 商業策略。此研究以商業模式九宮格剖析 La Felino、Victoria’s Secret、Spanx三家女性內衣公司，藉由比較分析其商業模式之九大面向優化 La Felino 商業模式之策略。La Felino 為台灣百貨口碑良好的高級內睡衣專櫃品牌，但近幾年卻面臨銷售下滑，為再續其競爭 力，此研究透過與其公司執行長及設計總監的訪談，了解公司運作以及缺口，亦透過研究分析另兩個知名女性內衣品牌之商業模式九大要素比較策略以及趨勢變化。 此研究以商業模式九宮格分析三家女性內衣公司，以此為基礎進行商業模式比較分析，列出 La Felino 的優勢、劣勢、機會與威脅，並找出可提升其競爭力的參考做法。

This thesis is qualitative research on strategies to improve the business prospects of a Taiwanese female underwear company, La Felino. Specifically, this paper examines the Business Model Canvas of three underwear companies: La Felino, Victoria’s Secret, and Spanx, and performs a comparative analysis to address how La Felino can leverage the best practices of the other business models. La Felino was a very prestigious and high-end lingerie brand based in Taiwan in the early days. However, the company has recently faced declining sales. To renew its competitiveness, interviews with La Felino’s CEO and Design Director were conducted to assess their business operations and identify any gaps. Then, case studies of two other popular lingerie brands were evaluated, using the Business Model Canvas to reveal practices and trends. These analyses formed the basis for establishing a comparative analysis and the formulation of La Felino’s strengths, weaknesses, opportunities, and threats. This study found the avenues for La Felino to enhance its competitiveness.

論文審定書⋯⋯ i
Acknowledgments⋯⋯ ii
摘 要⋯⋯ iii
Abstract⋯⋯ iv
Chapter 1: Introduction⋯⋯ 1
1.1 Background⋯⋯ 1
1.2 Research Questions⋯⋯ 3
Chapter 2: Literature Review⋯⋯ 5
2.1 The Evolution and the Symbolic Meaning of Female Underwear⋯⋯ 5
2.2 Inclusiveness and Body Positivity⋯⋯ 6
2.3 The Fall of Victoria’s Secret⋯⋯ 7
2.4 Intimate Wear Retail Market and Lingerie Retail Market⋯⋯ 9
2.5 Business Model Canvas ⋯⋯ 11
2.6 Research Gap⋯⋯ 17
Chapter 3: Methodology⋯⋯ 19
3.1 Methods⋯⋯ 19
3.2 Research Framework⋯⋯ 20
3.3 Data Collection ⋯⋯ 21
3.3.1 Case Studies⋯⋯ 21
3.3.1.1 La Felino⋯⋯ 24
3.3.1.2 Victoria’s Secret⋯⋯ 26
3.3.1.3 Spanx⋯⋯ 27
3.4 Data Analysis⋯⋯ 27
3.4.1 Business Model Canvas⋯⋯ 28
3.4.2 Comparative Analysis⋯⋯ 30
3.4.3 SWOT Analysis⋯⋯ 30
Chapter 4: Results⋯⋯ 32
4.1 La Felino⋯⋯ 32
4.1.1 Background of La Felino⋯⋯ 32
4.1.2 BMC of La Felino⋯⋯ 34
4.2 Victoria’s Secret⋯⋯ 46
4.2.1 Background of Victoria’s Secret⋯⋯ 46
4.2.2 BMC of Victoria’s Secret⋯⋯ 48
4.3 Spanx⋯⋯ 65
4.3.1 Background of Spanx ⋯⋯ 65
4.3.2 BMC of Spanx ⋯⋯ 68
Chapter 5: Discussion⋯⋯ 81
5.1 Findings from the Comparative Analysis⋯⋯ 81
5.2 SWOT Analysis of La Felino⋯⋯ 92
5.3 Avenues for La Felino to Renew its Competitiveness⋯⋯ 100
Chapter 6: Conclusion⋯⋯ 103
6.1 Summary⋯⋯ 103
6.2 Managerial Implications⋯⋯ 105
6.3 Theoretical Contributions⋯⋯ 106
6.4 Limitations and Future Research⋯⋯ 108
References⋯⋯ 110

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