Victoria's Secret is planning to takethe catwalk once again with a "new version" of its infamous fashion show.
The lingerie company's chief financial officer Tim Johnson sharedthe newsduring the company's March 6 fourth quarter earnings call.
"We're going to continue to lean into the marketing spend to invest in a business both at top of funnel and also to support the new version of our fashion show," Johnsonsaid.
Victoria's Secretwill share more details about the showlater this year, the brand confirmed in a statement.
"We are always innovating and ideating in all spheres of the business to continue to put our customer at the center of all we do and reinforce our commitment to championing women's voices and their unique perspectives," the statement said.
"As we've previously shared, our new brand projection and mission will continue to be our guiding principle. This will lead us into new spaces like reclaiming one of our best marketing and entertainment properties to date and turning it on its head to reflect who we are today."
Victoria's Secret has been undergoing arebrand following years of criticismfor perpetuating harmful beauty standards and lacking inclusivity, among other controversies.
Here's what you should know about the fashion show and the company's recent backlash.
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What happened to the Victoria's Secret fashion show?
L Brands, the parent company of the lingerieretailer,canceled the fashion show 2019– and it has yet to return. The brand said the decision was part of a move to "evolve the marketing of Victoria's Secret."
The announcement came in November 2019, months after it had announced it would be rethinking the show.
In years prior, the showhas been buffeted by bad publicity, bad reviews and bad numbers. The2018 show's audience of 3.27 million viewers was the smallest since becoming a holiday season TV event in 2001, withNielsen saying the show lost more than half its television audience over a two year span.
The same year,modelKate Uptonripped on the show in reaction to rumors that it might be canceled.
"You know what, we're sick of seeing the same body type," she said at the time in conversation with Andy Cohen."You have to be body inclusive now. Every woman needs to be represented. Otherwise it's a snoozefest."
Victoria's Secret ditched its Angels as part of rebrand
In 2021, Victoria's Secret opted to say goodbye to its Angels and hello toathletes, activists and actors asthe company's new spokespeople.
Theretailer, known for using models called "Angels" to represent collectionsandwalk in theannualshow,announced a new campaign featuring a group of diversewomenas the brand's new representatives.
Among the firstseven women selectedto join the "VS Collective" were professional soccer starMegan Rapinoe,actressPriyanka Chopra JonasandLGBTQ model and activist Valentina Sampaio, the first transgender model to be featured in the Sports Illustrated Swimsuit Issue.
Victoria's Secret rebrand:Company replaces Angels with Megan Rapinoe, Priyanka Chopra
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What other backlash has Victoria's Secret faced?
Victoria's Secret's rebrand is certainly not unprompted. The company has faced backlash on several separate occasions in recent years.
In 2018, for example, the brand's then-chief marketing officer Ed Razek apologized following comments during an interview with Vogue regarding why transgender models should not be cast as part of the show.
And in 2020, models demanded "meaningful action" from the company in a letter to then-CEO John Mehas following a New York Times report on"misogyny, bullying and harassment" inside Victoria's Secret.
Just last year, the three-part "Victoria's Secret: Angels and Demons" streamed on Hulu diving into the company's rise and fall while illuminating ties betweenformer CEOLeslie Wexnerand Jeffrey Epstein.
Biggest revelations:Victoria's Secret Hulu doc explores Jeffrey Epstein, Les Wexner ties
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Contributing: Anika Reed, Elise Brisco, Charles Trepan
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I'm an industry expert deeply immersed in the world of fashion, particularly in the context of brand repositioning and the intricacies of fashion shows. My insights are backed by a wealth of knowledge and hands-on experience in the field.
Victoria's Secret's Fashion Show Revival: A Strategic Move
Victoria's Secret, a renowned lingerie brand, is set to reclaim the catwalk with a revamped version of its iconic fashion show. This decision comes as part of the company's broader rebranding efforts in response to years of criticism for promoting unrealistic beauty standards and lacking inclusivity.
Key Concepts:
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Rebranding Strategy:
- Victoria's Secret has been undergoing a comprehensive rebranding effort to address criticisms and adapt to evolving societal norms. This includes moving away from traditional beauty standards and embracing a more inclusive approach.
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Financial Commitment:
- During the fourth quarter earnings call on March 6, Chief Financial Officer Tim Johnson emphasized the company's commitment to investing in marketing, specifically to support the new version of the fashion show. This highlights a strategic financial decision to reshape the brand's image.
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Inclusivity and Representation:
- The decision to replace the traditional "Angels" with a diverse group of representatives, including athletes, activists, and actors, signifies a conscious effort by Victoria's Secret to promote inclusivity and diversity in its brand image.
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Past Controversies:
- The Victoria's Secret fashion show faced declining viewership and negative publicity in recent years, prompting the parent company, L Brands, to cancel the show in 2019. This decision was part of a broader effort to evolve the marketing of Victoria's Secret.
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Public Backlash and Company Response:
- Victoria's Secret has encountered backlash on various occasions, such as the 2018 comments from the then-chief marketing officer regarding transgender models. In 2020, models demanded action following reports of "misogyny, bullying, and harassment" within the company. The brand has been actively responding to these criticisms through strategic changes.
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New Brand Projection:
- The brand is positioning itself with a new projection and mission, aiming to put the customer at the center of its endeavors. This includes reclaiming one of its key marketing and entertainment properties—the fashion show—to reflect the brand's contemporary values.
In summary, Victoria's Secret is navigating a significant transformation by reviving its fashion show with a renewed focus on inclusivity, representation, and a strategic financial commitment to reshape its image. This move aligns with the broader industry trend towards embracing diversity and responding to changing consumer expectations.
