This time of year, fans are Victoria’s Secret fans are preparing to watch their annual fashion show, but sadly, this year, there will not be one!
The end of 2018 and a lot of 2019 has been rough for lingerie fashion house Victoria’s Secret.
Coming off of the 2018 fashion show, former chief marketing officer Ed Razek was slammed with concerns about a statement he made regarding the future of his models.
Razek was heard saying that transgender and plus-size models shouldn’t be included in the company’s famed televised fashion show “because the show is a fantasy.”
That statement stuck to the brand for the following year, resulting in the future of the show being questioned. Fast forward to November 2019, the show has officially been canceled.
In a statement released by L Brands, they say the decision to cancel this the 2019 show was a decision to “evolve the messaging of [the company]”.
“We will be communicating to customers, but nothing similar in magnitude to the fashion show,” said CFO Stuart Burgdoerfer.
Due to low ratings and a 7% drop in sales, Burgdoerfer says the company decided it was best to pull back on more extravagant marketing methods.
“as timing over the years shifted over the years in terms of the airing the fashion show, did we see specific material impact in terms of a short-term sales response to the airing of the fashion show? As a general matter, the answer to that question is no.”
One positive thing that VS did accomplish this year was the addition of not only plus sized models, but trangender models as well!
We will see what VS and L Brands has in store for the rest of the year in regards to sales.