Victoria’s Secret Fashion Show Gears Down From Network TV
In a last‑ditch bid to stay relevant, L Brands’ flagship lingerie clutch is pulling the plug on its yearly TV circus – the jewel‑clad bras, sky‑high wings, and runway drama that once drew three‑million viewers. The company says it’s time to bet on a new kind of show, one that lives on the feeds people actually scroll through.
- Peak TV numbers gone down – 12 million in 2001 dropped to 3.3 million in 2018. Plain old eyeballs fatigue.
- Criticism flying – the “skimpy show” has been slammed as sexist and out of touch, especially after last year’s snarky “no plus‑size or trans models” rant.
- Market shifts – savvy shoppers are swapping Victoria’s Secret for cheaper bralettes (Aerie) or sleek sports bras.
- Competitive squeeze – Rihanna’s Savage X Fenty and other newcomers are stealing half the market.
The memo from CEO Les Wexner skips the fine print on how the new event will look. “We’re wrapping our heads around content for the platforms that our audience is glued to,” he told employees. It’s a vague nod to Instagram reels, TikTok shorts, or whatever “magical ‘app’ the Gen Z crowd lives on.
Investors aren’t blinking. Activist Barington Capital already nudged the company toward a spin‑off of the underperforming Victoria’s Secret, with Bath & Body Works staying put. Meanwhile, L Brands’ shares stayed flat at $23.90 after the announcement – a signal that the market isn’t sure if this is a splash or a sink.
Bottom line: the glittering runway is taking a bow on network TV, but the show’s grand wardrobe change is just getting started. Stay tuned for a version that’s less about rock‑in‑a‑crowbar and more about scrolling through a story you can actually binge.
