return icon Vietnamnet.vn

Victoria's Secret cancels fashion show amid ratings drop

Television audiences for the show have slumped and the brand said its marketing needs to "evolve".

Lingerie brand Victoria's Secret has cancelled its annual fashion show amid dwindling television ratings and rising criticism of the event.

The show launched in 1995 and was once a major pop culture event, drawing millions of viewers each year.

Last year it had its lowest ratings ever and drew criticism that it was sexist, outdated and lacked diversity.

The brand's parent company L Brands said it was important to "evolve" its marketing strategy.

"We're figuring out how to advance the positioning of the brand and best communicate that to customers," Stuart Burgdoerfer, L Brands chief financial officer, told investors on an earnings call. 

Nevertheless, he said the shows were "an important aspect of the brand and a remarkable marketing achievement".

The annual show featured some of the world's top supermodels, often wearing elaborate outfits.

The show was a milestone in the career of many supermodels including Tyra Banks, Heidi Klum and Miranda Kerr.

Changing attitudes appear to have hit sales and the brand's bottom line.

Poor sales at Victoria's Secret weighed on the performance of L Brands, which reported a net loss of $252m (£195.1m) in third quarter results announced this week.

The underwear brand has also faced a number of recent controversies.

Last year, there was a furious response to an interview in Vogue with then-chief marketing officer Ed Razek who suggested "transsexual" models should not be part of the event.

He later apologised for the comments and left the company earlier this year.

L Brands also received bad publicity due to billionaire founder Les Wexner's friendship with the late US financier Jeffrey Epstein.

Epstein died in prison in August while awaiting trial for sex trafficking charges.

Mr Wexner employed Epstein as an adviser, but cut ties in 2007, and has previously accused Epstein of misappropriating money. BBC

MORE NEWS

FDI hoped to help realty market develop sustainably in long term

Vietnam’s real estate sector last year attracted an additional 1.85 billion USD in foreign direct investment (FDI), retaining its second place among industries drawing FDI with combined investment of 4.45 billion USD.

Party chief’s book on fight against corruption and negative phenomena released

A ceremony was held in Hanoi on February 2 to release the book by General Secretary of the Communist Party of Vietnam (CPV) Nguyen Phu Trong.

Make in Vietnam drives ICT firms into international markets

Global expansion has become a trend in domestic ICT enterprises in recent years.

Schools launch digital-related majors to meet students’ needs

In 2023, many universities have launched new subjects associated with the digital era to meet students’ needs.

Southeast region prepares for new FDI wave

The southeast region is preparing conditions in infrastructure, administrative procedures and human resources to welcome a new wave of foreign direct investment (FDI), as investors have flocked to the region from the beginning of this year.

VIETNAM NEWS HEADLINES FEBRUARY 2/2023

PM chairs monthly teleconference with localities

Experts call for stricter penalties as drink driving soars over Tet

The maximum punishment for car drivers with alcohol concentration levels exceeding 0.4mg per litre of breath, or 80mg in 100 ml of blood, is a fine of VND40 million (US$1,693) and a two-year suspension of their driving licences.

Over 32% of apparel firms remain closed in Hanoi

Nearly a third of textile and garment firms have yet to reopen in Hanoi although the Lunar New Year holiday has ended.

Domestic tourism hits five-year high

Domestic tourism numbers hit 13 million in January, the highest in the last five years, according to the Vietnam National Administration of Tourism.

VIETNAM BUSINESS NEWS FEBRUARY 2/2023

Businesses exporting medicinal herbs to China required to register

Cashless payments on the rise: convenience and security for expats in Vietnam

As digital payment methods surge in popularity, expats in Vietnam are not alone in embracing the change to cashless transactions.

My Dinh Stadium needs money for more upgrading

Having been upgraded with a package worth VND408 billion, My Dinh Stadium is still in poor condition.

Vietnam needs more submarine cables to ensure internet services

Vietnam will need at least two or three more submarine cables to ensure proper internet services for the country's development in the next five years, according to Vu The Binh, Secretary-General of the Vietnam Internet Association.

Government convenes January meeting

The Government convened its first regular monthly meeting for 2023 in Ha Noi on Thursday under the chair of Prime Minister Pham Minh Chinh.

Scammers steal information, money on first days of Year of the Cat

The first days of the New Year are the time for scammers to increase their activities. The most common tricks are stealing information and money from victims’ accounts.
back_to_top