Victoria’s Secret has officially canceled its annual fashion show due to declining television ratings and increasing criticism of the event.
Launched in 1995, the show was once a major pop culture phenomenon, attracting millions of viewers each year. However, last year marked its lowest ratings ever, with growing concerns about its perceived sexism, outdated format, and lack of diversity.
The brand’s parent company, L Brands, emphasized the need to “evolve” its marketing strategy. Stuart Burgdoerfer, L Brands’ chief financial officer, stated on an earnings call, “We’re working on how to advance the brand’s positioning and effectively communicate that to our customers.”
Despite the cancellation, he acknowledged that the shows were “an important aspect of the brand and a remarkable marketing achievement.” The annual event featured some of the world’s top supermodels showcasing elaborate outfits.
A Milestone for Supermodels
The Victoria’s Secret fashion show was a defining moment in the careers of many supermodels, including Tyra Banks, Heidi Klum, and Miranda Kerr.
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What’s Gone Wrong at Victoria’s Secret?
Changing societal attitudes have negatively impacted sales and the brand’s overall performance. Poor sales at Victoria’s Secret have significantly affected L Brands, which reported a net loss of $252 million (£195.1 million) in its third-quarter results released this week.
The underwear brand has been embroiled in several controversies in recent years.
Last year, a backlash erupted following an interview in Vogue with then-chief marketing officer Ed Razek, who suggested that “transsexual” models should not be included in the fashion show. He later apologized for his comments and departed from the company earlier this year.
Additionally, L Brands faced negative publicity due to billionaire founder Les Wexner’s ties to the late financier Jeffrey Epstein, who died in prison in August while awaiting trial on sex trafficking charges. Wexner had employed Epstein as an adviser but severed ties in 2007, later accusing Epstein of misappropriating funds.
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