After much speculation, it has finally been confirmed that the Victoria’s Secret Fashion Show will not be running this year.
According to WWD, L Brands (the parent company to Victoria’s Secret) CFO and executive vice president, Stuart B. Burgdoerfer, has broken the silence, saying in a conference call with analysts that “it’s important to evolve the marketing of Victoria’s Secret.”
“We recognise and appreciate that the communication of the brand, the offerings, the emotional content of Victoria Secret is obviously an important thing,” he added. “[The show] was a very important part of the brand building of this business and was an important aspect of the brand and a remarkable marketing achievement. And with that said, we’re figuring out how to advance the positioning of the brand and best communicate that to customers and that’s among the things that [Victoria’s Secret CEO John [Mehas] is focused on.”
The company first alluded to the end of its annual fashion show last May, when L Brands founder, chairman and CEO, Leslie Wexner, distributed an internal memo to employees, revealing that he had “decided to rethink the show.”
“Going forward we don’t believe network television is the right fit,” Wexner said. “Fashion is a business of change. We must evolve and change to grow.”
And although it was never specified what that meant, various models such as Sofie Rovenstine, Devon Windsor and Shanina Shaik, all came forward to say the show had been cancelled. The company however, remained silent until now.
It is unclear what Victoria's Secret's next move is, but Burgdoerfer said it would be nothing he “would say is similar in magnitude to the fashion show.”
The business will continue to communicate with customers through other channels, such as social media.
