Dimitrios Kambouris/Getty Images
- Victoria’s Secret had a rocky 2018. Sales slid, and it lost a CEO, closed stores, and came under intense scrutiny for its racy ads and runway shows, which analysts said failed to resonate in the era of #MeToo.
- Things came to a head in November, when an executive from parent company L Brands made controversial comments about transgender and plus-size models in an interview with Vogue.
- Toward the end of the year, L Brands CEO and founder Les Wexner addressed analysts’ concerns in the company’s third-quarter results and said the company was "looking at everything."
- Here’s what has changed since then.
- Visit Business Insider’s homepage for more stories.
At best, 2018 was eventful for Victoria’s Secret. At worst, it was disastrous.
Sales slid, and it lost a brand CEO, closed stores, and came under intense scrutiny for its racy ads and runway shows, which analysts said failed to resonate in the era of #MeToo.
Customers complained that the quality of its underwear had slipped, and the brand resorted to heavy discounting to shift stock.
Then, in November, things got worse after a Vogue interview with Ed Razek, the marketing chief of Victoria’s Secret parent company L Brands, went viral online. Razek said in the interview that he didn’t think the company’s annual fashion show should feature "transsexuals" because the show is a "fantasy." His comments sparked an outcry online, and Razek issued a formal apology.
When the fashion show ran on TV shortly after, ABC said that ratings dropped by approximately a third from the year before.
Toward the end of the year, L Brands’ CEO and founder Les Wexner addressed analysts’ concerns during the company’s quarterly results. Wexner said that everything was on the table as it looked to improve performance.
"Our new leaders are coming in with a fresh perspective and looking at everything… our marketing, brand positioning, internal talent, real estate portfolio and cost structure," he said.
Eight months later, we took a look at the changes the company has made:
It hired a slightly curvier model
Charles Sykes/Invision/AP
In March Victoria’s Secret announced on Instagram that Barbara Palvin would become one of its newest Angels.
The news was immediately celebrated online because while Palvin is not a plus-size model, many Instagrammers perceived her to be curvier than some of the brand’s other models.
"This model actually looks healthy..& I’m loving it!" one Instagram user wrote at the time.
"At last! A real human body," another said.
Analysts were quick to point out how successful the post had been. Within two days it had 780,000 likes and ranked No. 1 of all of Victoria’s Secret’s 103 posts from the previous 30 days, generating 4.2 times the average number of likes.
It announced it is rethinking its annual fashion show
AP Images/Francois Mori
In May, in a leaked memo to employees, L Brands CEO Les Wexner said that Victoria’s Secret was "re-thinking" its annual fashion show.
"Going forward we don’t believe network television is the right fit. 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," he said.
Two months later, Victoria’s Secret model Shanina Shaik, who has walked in several previous Victoria’s Secret fashion shows, told The Daily Telegraph in Australia that the annual show is off.
Victoria’s Secret did not respond to Business Insider’s request for comment on its plans.
But according to Business of Fashion, as of July no models had been booked, something that would have typically happened by this point.
It reportedly hired its first transgender model
Pascal Le Segretain / Getty
Victoria’s Secret hired its first openly transgender model, 22-year-old Valentina Sampaio, earlier this month, signaling that the brand is listening to some of its most critical customers.
Victoria’s Secret has not yet commented on the news, but it was confirmed in an email sent by Sampaio’s agent, Erio Zanon, to The New York Times.
Sampaio announced the news on Instagram, sharing a photograph of herself and tagging the Victoria’s Secret Pink brand and using the hashtags "campaign," "vspink," and "diversity."
See the rest of the story at Business Insider
See Also:
- Costco, Walmart, and Target workers handle some ridiculous returns, from entire lawn sets to used toilets
- Here’s what Costco looked like when it first opened in 1983
- Victoria’s Secret head Les Wexner writes in a letter to his foundation that he is ’embarrassed’ he was ‘deceived’ by Jeffrey Epstein. Read the full letter.
SEE ALSO: The rise and fall of Victoria’s Secret, America’s most famous lingerie retailer
Source: Business Insider – feedback@businessinsider.com (Mary Hanbury)