Roommates, every year around this time Victoria’s Secret holds their iconic fashion show. But according to Fortune, for the first time, the fashion show is cancelled. It seems there isn’t just one factor that was considered in cancelling the show, instead, there are few reasons why the brand is taking a step back this year and regrouping.
Retailer ‘L Brands’ who owns Victoria’s Secret said in a statement that the decision ultimately is a move to “evolve the messaging of [the company]”. CFO Stuart Burgdoerfer said: “We will be communicating to customers, but nothing similar in magnitude to the fashion show.”
Interestingly enough, the move also comes after its been reported that the 2018 VS Fashion show allegedly obtained the lowest ratings ever. Along with the ratings, Victoria’s Secret CFO has reportedly also plans to scale back on more “extravagant marketing methods.” #Fortune reports that the sales have been declining, in fact in this latest quarter the company sales have fallen 7%.
Aside from sales analytics, the brand has taken a hit with the public. According to the NY Post, last year Chief Marketing Officer Ed Razek was in hot water for reportedly saying that there was “no room” for plus-size models on their runway and that he would not cast transgender models either. In a time where inclusivity is at the forefront of what feels like almost every marketing campaign, I can see how those comments (if they were in fact said) can be problematic.
The brand has not confirmed if the cancellation is temporary or if the show is gone for good but clearly it’s a new day Roommates!