The lingerie show has been an important event since 1995 and has been followed by millions of television viewers every year. But over the past year, its audience has plummeted to unprecedented levels, with many criticisms calling it sexist, outdated, and a lack of diversity.
According to the brand's parent company, L Brands, the time has come for them to change their marketing strategy. "We're trying to figure out how to reposition the brand and how it communicates," said Stuart Burgdoerfer, chief financial officer at L Brands.
He added that the show has always been an important part of the brand and an important marketing event. The show featured some of the world's most famous top models on the catwalk, including a landmark in the careers of Tyra Banks, Heidi Klum and Miranda Kerr.
The downturn in Victoria's Secret sales significantly reduced L Brands' performance, with the group reporting $ 252 million loss for the third quarter.
(Source: marmalade.co.uk; MTI | Image: pixabay.com)