"We didn't see a material impact on the next few days' results," Stuart Burgdoerfer, L Brands' chief financial officer, explained of the iconic fashion show's impact for the brand.
The iconic Victoria's Secret fashion show will no longer be a staple during the holidays, as L Brands announced Thursday it has been officially canceled.
Stuart Burgdoerfer, L Brands' chief financial officer, explained during a company quarterly call that as the fashion show hopped between ABC and CBS over recent years, "we didn't see a material impact on the next few days results." When explaining how Victoria's Secret will make up for the loss of publicity that came from the show, he added "we'll be communicating to customers, but nothing that I would say is similar in magnitude to the Fashion Show."
"With that said, it was a very important part of the brand building of this business and was an important aspect of the brand and a remarkable marketing achievement," Burgdoerfer added on the call.
The Victoria's Secret fashion show began in 1995 but did not air an hourlong special until 2001, starting with ABC. Alongside six-inch heels, sparkling lingerie and massive wings, models walked new styles alongside musical performances by stars like Lady Gaga and Taylor Swift.
In May of this year, L Brands announced the show would no longer be broadcast on network television due to a decline in viewership. The show has hopped between ABC and CBS, with 2018's broadcast on ABC reaching only 3.3 million viewers — a significant drop from 2013's 9.7 million. THR has reached out to ABC for comment.
Victoria's Secret Model Shanina Shaik would later tell Australia's The Daily Telegraph in July that the show was over. L Brands did not comment on or confirm her remarks at the time.
"Unfortunately the Victoria's Secret show won't be happening this year," she said. "It's something I'm not used to because every year around this time I'm training like an angel. But I'm sure in the future something will happen, which I'm pretty sure about. I'm sure they're trying to work on branding and new ways to do the show because it's the best show in the world."
In August, amid the brand's Jeffrey Epstein controversy, declining sales and image problems, Victoria's Secret hired its first transgender model Valentina Sampaio and saw L Brands' chief marketing officer Edward Razek resign.
EXCLUSIVE: Pete Berg and Matt Tyrnauer will use the inner workings of a lingerie empire as the fabric for a limited documentary series. Tyrnauer, who helmed the 2009 documentary Valentino: The Last Emperor, will direct The Rise and Fall of Victoria’s Secret, with Film 45’s Berg, Matthew Goldberg, Brandon Carroll, and Elizabeth Rogers exec producing with Tyrnauer and his Altimeter partner Corey Reeser. The three part limited series will be a co-production between Film 45 and Altimeter.
Tyrnauer Ettore Ferrari/EPA-EFE/Shutterstock
The docu-series will shed light on the inner workings of a once-powerful sector of the world of fashion, adding context to both the positive and negative aspects of a rapidly transforming industry with global impact, and exploring the extensive connection between fashion and culture and what happens when a brand hits the cultural zeitgeist.
Berg David Swanson/EPA-EFE/Shutterstock
Victoria’s Secret rose from a small mail order brand to a global juggernaut featuring retail stores, commercials with gorgeous supermodels donning the product, and fashion show broadcasts. The brand has weathered controversy, most recently tarnished with revelation of past ties between Victoria’s Secret owner L Brands chief Les Wexner with Jeffrey Epstein, the notorious hedge funder who was arrested last July on federal sex trafficking charges, and hanged himself in his cell last August under murky circumstances. Wexner apologized and disavowed Epstein, whom he accused of misappropriating $46 million of Wexner family funds, but there were reported revelations that Epstein used his association to claim he was a talent scout for the brand, ostensibly to paw unsuspecting women who showed up for meetings hoping to join the supermodels in the Victoria’s Secret fold. L Brands sold a majority stake in the formerly billion dollar value company to Sycamore Partners for $550 million last month, with the 82-year old Wexner stepping down as CEO.
Berg’s latest film as a director, Spenser Confidential, opens today on Netflix. He and Tyrnauer intend to underscore how an iconic moment in fashion can affect global pop culture at large. Berg has made numerous docus digging below the surface of widely misunderstood industries, including The Keepers, Buzz, Rihanna: Volume 1, and QB1: Beyond the Lights. Next up is the Naomi Osaka docu series on Netflix and Iron Sharpens Iron on Quibi.
Epstein AP/Shutterstock Wexner in 2014 Jay LaPrete/AP/Shutterstock
Altimeter Films projects upcoming include the narrative adaptation of Scotty and the Secret History of Hollywood with Fox Searchlight; the dramatic adaptation of Citizen Jane with Participant Media; Once Upon a Time in Beverly...