Victoria’s Secret won’t be holding its annual fashion show this year.
via USA Today:
L 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.
USA TODAY has reached out to L Brands for comment.
In May, the brand said it would be rethinking the show.
In a statement sent to the company’s associates at the time and obtained by USA TODAY, Les Wexner, CEO of L Brands, the parent company of the lingerie brand, revealed this year’s show is going in a different direction.
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