The Victoria's Secret Fashion Show will not be happening this year.
Published 1:40 PM EST Nov 21, 2019L Brands, the parent company of the lingerie retailer, has officially canceled the 2019 show. “We'll be communicating to customers, but nothing that I would say is similar in magnitude to the fashion show,” CFO Stuart Burgdoerfer said during the company's third quarter earnings call. The brand said the decision was part of a move to"evolve the marketing of Victoria's Secret.
"Given the decline in performance at Victoria’s Secret, we have substantially pulled back on capital investment in that business while we focus on ensuring that our merchandise resonates with customers," L Brands said in its Q3 earnings report.
"Fashion is a business of change. We must evolve and change to grow. With that in mind, we have decided to re-think the traditional Victoria’s Secret Fashion Show," the statement read. "Going forward we don’t believe network television is the right fit." The statement continued,"In 2019 and beyond, we’re focusing on developing exciting and dynamic content and a new kind of event – delivered to our customers on platforms that she’s glued to … and in ways that will push the boundaries of fashion in the global digital age."The show in recent years has been buffeted by bad publicity, bad reviews and now bad numbers. The 2018 show's audience of 3.
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