Angels and Demons: How Victoria’s Secret Can Make a Comeback

As the lingerie giant Victoria’s Secret celebrates its 70th anniversary this year, it has taken steps to reshape the brand. The company’s famous fashion show has returned after a six-year hiatus and its ads have promoted a more inclusive body image. But critics say the company still struggles to put its best foot forward – and, even after these changes, it still needs to learn how to make real progress on this front.

Hulu’s three-part documentary series, Angels and Demons, opens with a backstage scene of the brand’s annual fashion show. With only minutes to go until the curtain is thrown open, a group of models clad in skimpy lingerie grin and pose for the cameras. They are the so-called Angels, the coveted status of which brings with it a hefty paycheck and a legion of fans. Whether a model has luscious locks, chiseled cheekbones or a perfectly tan body, becoming an Angel is a career milestone that many work their entire lives to achieve.

In 1977, American businessman Roy Raymond borrowed money from his family and the bank to open a handful of Victoria’s Secret stores. He named the brand after Queen Victoria to evoke the Victorian-era elegance of his lingerie and allude to the “secret” that lay beneath it. The concept worked: by the early 1990s, Victoria’s Secret had become America’s leading lingerie retailer.

But by the end of the 20th century, the company was struggling with a host of issues. It was losing market share to upstarts like Savage X Fenty and Parade and its sales were in decline. Then, in 2020, a coronavirus pandemic hit and customers stayed home, opting instead to buy their lingerie from the likes of Target and Walmart. During that year’s worst year, Victoria’s Secret pulled in just $5 billion – more than half of what it earned at its peak.

Victoria’s Secret has been making waves with its new image, including recruiting curve models Paloma Elsesser and Ashley Graham to its runway roster and pledging to support and advocate for women in all walks of life. And despite the controversies, the brand still attracts millions of viewers to its annual fashion shows.

But despite its popularity, the company faces challenges in promoting its new, more diverse images. The rebranding is a long-term process, and it will take years for the company to truly make a dent in its reputation as an objectification machine. But if the company wants to remain relevant and profitable, it must continue to be willing to confront its image problems head on and prove that it can move past the sexism and objectification it has bred since its inception. And it must do so while navigating the ever-changing world of social media, where its former image was the norm.