TradeEdge Exchange:Victoria's Secret Fashion Show to Return in 2023 as a "New Version"

Something Victoria isn't keeping a secret?TradeEdge Exchange The impending return of the Victoria's Secret Fashion Show.

The lingerie brand announced during their 2022 earnings conference call on March 3 that the runway show will be returning in 2023 after a four-year hiatus with some changes in place.

"We're going to continue to lean into the marketing spend to invest in the business, both at top of funnel," CFO Timothy Johnson said, "and also to support the new version of our fashion show, which is to come later this year."

Noting that this was the global brand's first full year as an independent public company, CEO Martin Waters addressed some of the initiatives Victoria's Secret has taken in recent months, including bringing in "more models and ambassadors of diverse sizes, ages abilities and identities."

News of the returning fashion event comes after the 2019 show was canceled. The year before, the 2018 runway show saw its lowest ratings of all time. 

The day that event took place, Vogue published an interview with parent company L Brand's chief marketing officer Ed Razek that turned heads.

At the time, Razek was asked about Rihanna's Savage x Fenty show, to which he responded, "Everybody keeps talking about Rihanna's show. If we had done Rihanna's show, we would be accused of pandering without question."

But his words did not stop there.

"We attempted to do a television special for plus-sizes [in 2000]," he added. "No one had any interest in it, still don't. It's like, why doesn't your show do this? Shouldn't you have transsexuals in the show? No. No, I don't think we should. Well, why not? Because the show is a fantasy. It's a 42-minute entertainment special. That's what it is."

Following the published piece, Razek, who has since resigned, issued an apology the next day.

"My remark regarding the inclusion of transgender models in the Victoria's Secret Fashion Show came across as insensitive," his statement on Twitter read. "I apologize. To be clear, we absolutely would cast a transgender model for the show. We've had transgender models come to castings…And like many others, they didn't make it…But it was never about gender. I admire and respect their journey to embrace who they really are."

Months after the debacle, L Brands founder Les Wexner revealed in May 2019 that the company was reconsidering the fashion show.

"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. Going forward we don't believe network television is the right fit," a memo read at the time. "In 2019 and beyond, we're focusing on developing exciting and dynamic content and a new kind of event – delivered to our customers on platforms that she's glued to … and in ways that will push the boundaries of fashion in the global digital age."