Victoria Secret has a long history of sexy, seductive fashion and marketing. The company’s lingerie line is widely available in physical stores and on its website, but the brand is best known for its annual fashion shows that feature its top models and a hefty dose of fantasy. The brand’s famously evocative campaign imagery has helped it build a loyal following, and its iconic runway show, first broadcast in 1997, is one of the most highly-watched events on American network television.
The brand’s early success was tied to the fact that it was one of the few retailers willing to pay top models a substantial salary for their work. Christy Turlington, for example, made more than $10 million a year from the company’s advertising and fashion shows. This exclusivity made it a hot spot for talent, and the brand’s model selection process was intense. For instance, a woman who was selected to appear in the show was required to undergo extensive psychological testing.
By the end of the 1990s, Victoria Secret had become a household name in many parts of the world. By 2000, the company’s stock was worth more than $7 billion. By the mid-2000s, however, sales began to decline and the brand lost its market dominance. During this time, the company’s leadership changed. Wexner’s daughter Lisa took over as president and chief executive officer, and in 2022, she split from her father. The following year, L Brands announced plans to restructure the company and reposition it as a more inclusive brand.
To that end, the company overhauled its marketing and recast its iconic runway show. It also brought on a number of diverse and body-positive models to represent its new values, including plus-size model Paloma Elsesser and lesbian soccer star and activist Megan Rapinoe.
In an effort to connect with a new generation of women, the company also started producing videos featuring real-life women talking about their personal struggles. These videos are designed to be shared on social media and have been an important part of the company’s rebranding efforts.
It is unclear, however, whether these changes will be enough to regain the trust of consumers. For now, the company’s reputation has been tarnished by the alleged links to sexual abuse perpetrated by former CEO Ed Razek and by implied associations with the disgraced porn producer Jeffrey Epstein. It’s also been criticized for using underwear discounts to lure shoppers away from competitors.
It remains to be seen whether the reimagined Victoria’s Secret can make a comeback and restore its reputation as a palace of pink dreams. The upcoming fashion show, which will feature Cher performing and Gigi Hadid and Candice Swanepoel walking the runway, will be an important test. The show will be streamed online and on TikTok. Gigi Hadid will open the show, and other Victoria’s Secret Angels such as Adriana Lima, Mayowa Nicholas, Jasmine Tookes, and Behati Prinsloo are expected to take turns on the runway.