Victoria’s Secret is experiencing a significant revival as it prepares to bring back its iconic fashion show on March 5, 2025, featuring rising star Angel Reese. Once the largest lingerie retailer in the United States, the brand had to navigate through a challenging period marked by criticisms of model diversity, a scandal involving its former CEO, and declining sales. Now, under the leadership of new CEO Hillary Super, who previously led Savage x Fenty, the company is reporting promising signs of recovery.
The past few years have been turbulent for Victoria’s Secret. Established in 1977 by Roy Raymond, the brand initially catered to male shoppers seeking lingerie for their partners. Over the decades, it evolved into a dominant force in the lingerie market, generating over $1 billion in annual sales by the early 1990s. However, the company faced a series of setbacks, particularly in the late 2010s when its sales began to decline amidst a growing demand for inclusivity and body positivity in the fashion industry.
In 2018, the decline accelerated when former chief marketing officer Ed Razek made controversial remarks about the inclusion of transgender and plus-size models, leading to public outcry and a drop in viewership for the annual fashion show. Following Razek’s resignation, the company faced mounting pressure from activists and shareholders who criticized its outdated brand image and lack of diversity.
By 2020, Victoria’s Secret’s challenges were exacerbated by the COVID-19 pandemic, which forced the closure of its stores. In response, the company made drastic changes, including shutting down over 250 locations across the US and Canada. Despite these hurdles, the company began to recover, focusing on expanding its online sales.
With Hillary Super at the helm, Victoria’s Secret has shifted its strategy. Super aims to balance the brand’s signature sex appeal with a more inclusive image. In 2022, a documentary series titled “Victoria’s Secret: Angels and Demons” highlighted the brand’s past controversies while paving the way for its resurgence. The company has since introduced new product lines and revamped its marketing strategy, including a focus on diverse models, which has resonated with consumers.
The return of the fashion show is a pivotal moment for the brand, representing both a marketing opportunity and a chance to reclaim its position in the industry. The 2024 show featured a new format and was met with mixed reactions, but it successfully garnered significant attention online, helping to increase its social media following and brand relevance.
As the company approaches fiscal 2025, it reported a 5% increase in comparable-store sales, marking its strongest growth since separating from L Brands in 2021. Super expressed optimism about the brand’s future, noting, “We enter fiscal 2026 from a position of strength.” Despite facing challenges such as tariffs on imports from countries like China, the company’s focus on brand differentiation and customer connection is expected to drive further growth.
In summary, Victoria’s Secret is attempting to navigate a complex landscape by blending its traditional allure with a modern, inclusive approach. The anticipated fashion show revival symbolizes its commitment to reinvention and connects with a broader audience. As it moves forward, the brand aims to solidify its standing in the lingerie market while adapting to the evolving preferences of consumers.
