OFFICIAL: Victoria’s Secret Lingerie Runway Show Is Canceled, Consumers Demand Diversity

Victoria’s Secret Fashion had been one of the most hotly-awaited shows for years and now after nearly 25 years of ruling the industry, the show is done because of the struggles of the company in finding its voice in an era where inclusivity and body diversity are going down well with consumers.

On Thursday, L Brands which is the owner of the lingerie brand, went on record to confirm the news that the storied runway show was canceled as the company is leaving no stone unturned to change the way they are commuting with their customers.

According to CEO of L Brands, Stuart Burgdoerfer, Victoria’s Secret is losing its market share and they are also aware of the importance of changing in marketing strategy. The company’s short-term revenue didn’t witness a good response. The fact that VS struggles in maintaining a hold on the market of lingerie.

Victoria’s Secret is now the leading underwear brand in the American market alone and makes up for nearly a quarter in the total market share. However, the sales volume still experienced a decreased tendency. According to the brand, the retailer’s sales dwindled 7 percent in the lastest quarter and it pales in comparison to the same period last year.

Speaking of its viewership, as per a report published in Business Insider, 3.3 million viewers watched the show on ABC and it declined from 5 M in 2017 and 6.7 M in 2016.

There is a mix reaction on this announcement, many expressed their regret while some said: “Bye, we won’t miss ‘em.”