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Victoria's Secret reviving fashion show after six-year hiatus / Photo: TIMOTHY A. CLARY - AFP/File
NYSE - LSE
Victoria's Secret reviving fashion show after six-year hiatus
American lingerie giant Victoria's Secret announced Wednesday that its annual fashion show, scrapped after 2018 due to sluggish sales and diminishing audiences, will return this fall bringing high-profile models back onto its catwalk.
In a video posted on Instagram the company announced "the runway show is back this fall," without giving details about the date or location -- or which models would participate.
"We've read the comments and heard you," the group said in its post. "The Victoria's Secret Fashion Show is BACK and will reflect who we are today, plus everything you know and love -- the glamour, runway, wings, musical entertainment, and more."
Back in November 2019 the Ohio-based company announced the cancellation of the show, which had been criticized as sexist and out of step with the #MeToo movement that had gained support.
The runway show, created in 1995, was followed by millions worldwide, but viewership dwindled over the years. In 2014 it drew nine million Americans viewers; by 2018 the figure was barely three million.
Iconic models including Gisele Bundchen, Heidi Klum and Adriana Lima have participated in the high-glamour event, where being one of the show's so-called "angels" guaranteed a certain celebrity status.
Entertainers Taylor Swift, Kanye West, Rihanna and Bruno Mars also took part.
The label was owned by L Brands but the board approved the spinoff of Victoria's Secret into a standalone company, which listed on the New York Stock Exchange in 2021.
Now Victoria's Secret & Co, it includes its lingerie label, the Pink brand aimed at young women, and a cosmetics and accessories division called Victoria's Secret Beauty.
The company had suffered from its association with the case of New York financier Jeffrey Epstein, who committed suicide in prison in 2019 after being charged with sexually assaulting underage girls.
Epstein had been close to L Brands boss Leslie Wexner, who had helped introduce him to the jet-set world and Victoria's Secret fashion shows.
In 2023 the company reported sales of $6.12 billion, down 2.6 percent year on year, and net income of $181 million compared with $173 million a year earlier.
At year end, the group had over 1,300 stores worldwide.
(P.Davis--TAG)
