L Brands have canceled the Victoria Secret Fashion Show in 2019 to evolve its marketing activities.
After hearing rumors about the canceling Victoria Secret Fashion Show, it is now official that the brand is focusing on developing dynamic content and concentrating on a new kind of event for the global fashion and digital audience. The show has lost more than half its television audience in two years, says L Brand’s CFO Stuart Burgdoerfer.
Les Wexner, The CEO of L Brands said, “Fashion is a business of change. We must evolve and change to grow. With that in mind, we have decided to re-think the traditional Victoria’s Secret Fashion show.”
In the digital age, Television broadcasts are slower. For instance, The Victoria’s Secret Fashion Show that took place on November 8, 2018, was telecasted on December 2, 2018. By the time, the fans have seen the looks and performances via social media.
The fashion show was one time a pop culture event that is now losing viewers. The company is also pulling down their extravagant marketing strategies. The company acknowledges a 7% decline in sales compared to the 2% drop in 2018.
It’s clear that that brand has finally decided to evolve and that can only be a good thing. The Fashion show has been in rumor for bad publicity, bad reviews, and now bad numbers!