Victoria’s Secret is breaking new ground that will phase out its iconic Angels images.
Dimitrios Kambouris | Getty Images Entertainment | Getty Images
Victoria’s Secret wants to get back on the catwalk.
The lingerie brand told analysts Monday that it plans to bring back its iconic fashion show one day – but in a “culturally relevant” way.
After nearly 20 years in a row, the annual fashion show, where the Angels of Victoria’s Secret flaunted dazzled bras and lace underwear, has been canceled. The last show, which aired on television in December 2018, had the worst viewing figures in its history.
But now as Victoria’s Secret prepares to split from its parent company L Brands into a separate public institution next month, it is rewriting its playbook. His angels are being replaced by brand ambassadors representing all body types and ages. Shops are being refreshed with large mannequins and brighter lights. The company also plans to test a handful of off-mall locations.
“We have had a very significant portion of our fashion show marketing spend in the past, and we’ve saved that money over the past two years,” said Martin Waters, CEO of Victoria’s Secret, during a virtual presentation. “Our intention is to get back into the fashion show business.”
However, he warned, “We are in no hurry to announce when this will be or how it will be … but we will redefine it in a culturally relevant way in the years to come.”
Separately, Waters hinted on Monday that the company will invest in creating a digital entertainment platform for women to celebrate their bodies.
“It’s all about digital and social,” he said.
L Brands shares fell around 4% on Monday amid a wider sell-off. The retailer’s inventory is up about 87% since the start of the year.