The Victoria’s Secret Fashion Show has been officially canceled – it’s the end of an era for Victoria’s Secret and the world is still in shock.
The CFO of L Brands (the company that owns Victoria’s Secret) Stuart Burgdoerfer confirmed that the most famous fashion show in the world, which has been running since 1995, has been officially canceled.
Why you may ask?
Firstly, the Victoria’s Secret Fashion Show had a number of negative press and controversies over the years. As an example, just last year, Victoria’s Secret’s Chief Marketing Officer Ed Rezak told Vogue in an interview that he did not believe that transgender models had a place in the Victoria’s Secret Fashion Show, he apparently also said that there was no room for plus-size runway shows in TV. He later apologized for his tactless remarks but unfortunately, the damage has been done.
Secondly, Stuart Burgdoerfer confirmed as per Variety that he wants to “evolve the marketing” of its signature lingerie brand, and its annual fashion show had no immediate impact on sales of its bras and underwear. He said: “Did we see specific material impact on short-term sales response to the airing of the fashion show, as a general matter the answer to that question is no… So if you’re like, ‘Oh my God, Stuart, are you freaked out about the day after the fashion show result and what’s going to happen?’, it did air at different times over the years and we didn’t see a material impact on the next few days’ results.”
Variety further confirmed that ratings for the show have also been declining. As an example, back in December 2018, the Victoria’s Secret Fashion Show which was headlined by Shawn Mendes and Bebe Rexha garnered 3.3 million viewers which is a huge decline from its 6.7 million viewers in 2016 and its 9.7 million viewers in 2013.
On another note, according to CNBC, Victoria’s Secret sales at stores that have been open for at least a year have also plunged 7% from the prior-year quarter. L Brands confirmed this by posting its mixed third-quarter results, which revealed declining sales at its Victoria’s Secret brand.
Burgdoerfer further said that the Victoria’s Secret Fashion Show “was a very important part of the brand-building of this business and was an important aspect of the brand and a remarkable marketing achievement, and with that said, we’re figuring out how to advance the positioning of the brand and best communicate that to customers, and that’s among the things that John is focused on.”
Will Victoria’s Secret fashion show ever air again? Only time will tell.