01:32 GMT +306 December 2019
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    FILE - In this Nov. 8, 2018 file photo, models Martha Hunt, from left, Lais Ribeiro, Josephine Skriver, Sara Sampaio, Stella Maxwell and Romee Strijd walk the runway during the 2018 Victoria's Secret Fashion Show in New York. Shown on ABC Sunday after several years on CBS, its audience of 3.27 million viewers was the smallest since becoming a holiday season TV event in 2001. The Nielsen company said the show has lost more than half its television audience in two years.(Photo by Evan Agostini/Invision/AP, File)

    Victoria's Secret Officially Cancels Fashion Show for First Time in 25 Years

    © AP Photo / Evan Agostini
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    The famous lingerie producer dropped the event amid falling ratings and growing criticism, as its parent company L Brands plans to change marketing strategy.

    Victoria's Secret has scrapped its annual fashion show, L Brands Chief Financial Officer Stuart Burgdoerfer stated during an earnings call on Thursday.

    "We're figuring out how to advance the positioning of the brand and best communicate that to customers", he explained, adding that the show was "an important aspect of the brand and a remarkable marketing achievement".

    The statement comes after L Brands recently reported a net loss of $252mln in third-quarter results. At the same time, the lingerie brand is facing several controversies, including possible cancellation of the Angels - its most elite group of contracted models, which has included Tyra Banks, Heidi Klum, and Miranda Kerr.

    Victoria's Secret in London
    © AP Photo / Invision/Joel Ryan
    Victoria's Secret in London

    The traditional annual fashion event was launched by the brand in 1995, featuring top supermodels wearing various outfits. The show, however, has lost many viewers over the past decades – according to ABC, only 3.3 million Americans watched it last December (compared with 12 million in 2001, when it was first broadcast in the US).

    Tags:
    models, Fashion, Victoria's Secret Fashion Show, Victoria's Secret
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