Victoria's Secret Fashion Show Leaving Network TV

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 [e-mail]

(END) Dow Jones Newswires

May 10, 2019 15:26 ET (19:26 GMT)

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