Discontinued in 2018 due to declining sales and viewership, the annual fashion show of American lingerie giant, Victoria's Secret, will be recommenced soon. Launched in 1995, the show had faced criticism for being sexist and out of touch with the #MeToo movement, leading to its cancellation in 2019.
Once a global spectacle watched by millions, the fashion show registered a 6 million drop in American viewership from nine million in 2014 to just three million in 2018. It featured iconic models like Gisele Bundchen, Heidi Klum, and Adriana Lima, who achieved celebrity status as Victoria's Secret "angels." The event also hosted performances by major entertainers such as Taylor Swift, Kanye West, Rihanna, and Bruno Mars.
Originally a part of L Brands, Victoria's Secret was spun off into an independent company in 2021, now trading on the New York Stock Exchange as Victoria's Secret & Co. This entity includes the main lingerie label, the Pink brand targeting young women, and Victoria's Secret Beauty, which offers cosmetics and accessories.
The company faced additional challenges due to its association with Jeffrey Epstein, the disgraced financier who was charged with sexually assaulting underage girls before his suicide in prison in 2019. Epstein had close ties with L Brands' former CEO Leslie Wexner, who had introduced him to the elite circles that included Victoria's Secret fashion shows.
In 2023, Victoria's Secret & Co reported a 2/6 per cent drop in sales to $6.12 billion from the previous year. However, the company’s net income rose to $181 million from $173 million. By the end of the year, the company operated over 1,300 stores worldwide.
