The annual Victoria’s Secret fashion show, which has been a fixture on television for almost 20 years, airing on CBS and ABC, appears poised to leave Network TV.
CNBC cites a memo sent Friday to employees by L Brands CEO Les Wexner saying the lingerie retailer is “rethinking” the annual event. L Brands owns Victoria’s Secret along with Bath & Body Works.
“Wexner said network television is no longer the ‘right fit’ for the event, which has been broadcast on ABC and CBS for almost 20 years. He said the company instead will focus on creating a ‘new kind of event,'” CNBC reports.
The report adds: “Viewership for the fashion show has been dropping. The last show, televised in December, suffered the worst ratings in its broadcast history. That’s as Victoria’s Secret has been facing more criticism from women, its core customers, for trying to sell bedazzled bras and skimpy underwear on slim supermodels.”
Wexner is quoted saying Friday: “Fashion is a business of change. We must evolve and change to grow.”