Victoria's Secret Fashion Show Leaving Network TV
May 10 2019 - 3:41PM
Dow Jones News
By Khadeeja Safdar
Victoria's Secret will no longer air its annual fashion show on
network television after declining viewership and increasing
criticism of the spectacle featuring supermodels in the retailer's
skimpy lingerie.
The show, which had been broadcast on CBS and ABC for nearly two
decades, aired during the crucial holiday selling season and mixed
the brand's "Angels" with celebrities in locations such as Paris
and Shanghai. Ratings for the show have declined in recent years,
and the retailer's parent, L Brands Inc., has faced growing
criticism for its marketing in recent years.
In an internal memo sent Friday to employees, L Brands Chairman
and Chief Executive Les Wexner said he has "decided to re-think the
traditional Victoria's Secret Fashion Show. Going forward we don't
believe network television is the right fit."
He said the company would focus this year on developing content
and a new kind of event "in ways that will push the boundaries of
fashion in the global digital age." The show was webcast before
moving to network television.
An L Brands spokeswoman declined to comment. Representatives for
ABC, which is owned by Walt Disney Co., didn't immediately respond
to a request for comment.
The annual event was an elaborate marketing tool for L Brands
and boosted the careers of several supermodels, including Tyra
Banks and Adriana Lima. It made its broadcast debut on ABC in 2001
but aired on CBS for much of its history. Last year, the show moved
back to ABC and featured musical guests such as The Chainsmokers
and Shawn Mendes.
Once a ratings juggernaut, the one-hour show hit a new ratings
low last year. The broadcast had a total viewing audience of 3.3
million people, according to Nielsen, down from 10.4 million in
2011.
The lower ratings have coincided with rising controversy. Last
year in a Vogue interview, Ed Razek, longtime chief marketing
officer of L Brands, said he didn't think the show should include
transgender models because it is supposed to be "a fantasy." The
comment prompted backlash, Mr. Razek later issued an apology,
saying that he "absolutely would cast a transgender model."
L Brands recently replaced the chief executive of its lingerie
division, after Jan Singer left following the controversy around
the fashion show. Jann Parish, who was hired as chief marketing
officer of Victoria's Secret, also left the company. Mr. Wexner
hired John Mehas, the president of Tory Burch, to fill Ms. Singer's
role.
Demand for the company's bras have cooled in recent years as
customers have turned to brands emphasizing comfort and body
inclusivity. Victoria's Secret reported a 3% decline in comparable
sales in the holiday quarter when many apparel brands posted
improving sales.
Wall Street analysts have questioned how the company can adapt
to changing consumer tastes. "We are concerned that the fashion
show is no longer resonating with consumers whose attitude has
shifted toward more natural looks and relatable beauty," Wells
Fargo analysts wrote in a research note last year.
Although Mr. Wexner has shifted away from catalog mailings and
doubled down on sports bras to address the rise of so-called
athleisure, Victoria's Secret has appeared committed to its
sex-infused marketing and Mr. Wexner has defended his focus on
malls.
--Suzanne Vranica contributed to this article.
Write to Khadeeja Safdar at khadeeja.safdar@wsj.com
(END) Dow Jones Newswires
May 10, 2019 15:26 ET (19:26 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
LandBridge (NYSE:LB)
Historical Stock Chart
From Sep 2024 to Oct 2024
LandBridge (NYSE:LB)
Historical Stock Chart
From Oct 2023 to Oct 2024