The lingerie giant Victoria’s Secret is a storied brand with a famously sexy show and an otherworldly roster of models, but behind the glamour is a much darker story. In a new docu series, Hulu investigates the real life behind the scenes of this notorious empire and its founder, Les Wexner. Investigated with journalistic rigor by director Matt Tyrnauer (Valentine’s Day, Citizen Jane, Studio 54) this series uncovers the underworld of fashion, billionaire class and even Jeffrey Epstein—the financier and alleged sex offender who is tied to a scandalous downfall of this iconic company.
The three-part series begins backstage at a Victoria’s Secret fashion show as scads of photographers prepare to capture the lingerie company’s star models in their skimpy underwear. The Angels—Victoria’s Secret’ name for its brand ambassadors—sport frothy hair, sculpted cheekbones and flawless complexions while their bodies are draped in a fantasy world of pink, white and tan. The series chronicles the genesis of this American icon, revealing how Wexner built an empire that spanned brick-and-mortar stores, a bestselling catalog and a televised fashion show that became appointment viewing for millions of viewers in the US and around the world.
But as times change, the company struggled to keep up. The opulent, mystical show that oozed exclusivity—featuring multimillion-dollar jewel-encrusted “Fantasy Bras,” impractical wings and high-production performances from famed musical acts—was a far cry from the inclusive values of today’s post-#MeToo culture. The 2018 fashion show was the first in years not to feature a single full-figured model and a departure for the company, which tried to reinvent itself with a new pledge of inclusivity that included disabled, plus-sized and transgender models.
But a muddled branding message scuppered the rebrand and left consumers confused. In 2019, Wexner and his right-hand man, former CMO Ed Razek, retired and the annual show was dropped in favor of a new initiative called the “VS Collective” featuring trailblazing models including lesbian soccer star Megan Rapinoe, plus-size model Paloma Elsesser and transgender activist Valentina Sampaio.
Some say the flopped rebrand is proof that “go woke, go broke.” But others believe it’s a corporate cautionary tale about what happens when you hold onto outdated ideals. While competitors like Aerie—a sub-brand of American Eagle launched in 2014—have long taken steps to modernize their advertising campaigns by using unretouched, diverse models, and let customers define their own beauty, Victoria’s Secret has been slow to catch up.