WHAT’S BEING CLAIMED:
- Amid declining ratings and diminishing product significance, L Brands CFO Stuart Burgdoerfer confirmed that the Victoria’s Secret fashion show for 2019 will not be aired.
- The parent company L Brands CFO explained that in their effort to move forward, the company would divert their attention instead toward evolving its marketing styles.
- The expensive fashion show has since triggered controversies over the years for it being sexist and anti-feminist.
It’s confirmed. The 2019 Victoria’s Secret fashion show is cancelled, according to the lingerie retailer’s parent company L Brands on Thursday.
Due to declining show ratings and backlash to the event seen in recent years, L Brands Chief Financial Officer Stuart Burgdoerfer announced during a call with analysts that the annual fashion show will no longer be aired to focus instead on other brand marketing styles for Victoria’s Secret.
“It was a very important part of the brand building of this business,” said Burgdoerfer. “We’re figuring out how to advance the positioning of the brand and best communicate that to customers.”
Since its first airing in 1995, the expensive fashion show had, through the years, become a major pop culture event. However, the show fell to its lowest ratings last year since its debut with the show’s marketing significance waning.
The show had also sparked controversy from various publications that viewed it as anti-feminist and a hypersexualized portrayal of women.
In addition, online lingerie startup Third Love slammed Ed Razek, former L Brands chief marketing officer through an open letter for “demeaning comments about women.” Razek controversially said in an interview with Vogue last year that he didn’t think the brand should feature plus-sized or transgender models because the “42-minute entertainment special is a fantasy.” Razek, who left the company earlier this year, later apologized for his comments.
Victoria’s Secret has also come under scrutiny with L Brands founder and CEO Leslie Wexner’s ties with the now-deceased financier Jeffrey Epstein. Wexner has confirmed that he already cut ties with Epstein in 2007.
Meanwhile, Victoria’s Secret had reported another quarter of declining sales on Wednesday. With changing lingerie trends, the company has lost customers to a variety of rivals including Target, Kohl’s and American Eagle as well as online sellers and startups.