In the latest news, we get a report about the cancellation of Victoria’s secret 2019 show. The CFO says the company was pulling back on more expensive marketing methods. Hence, the L Brands of CFO Stuart Burgdoerfer said he disagrees with its marketing methods. This becomes the cause to pull back the company.
On Thursday, Burgdoerfer said to investors, they will talk to customers. And there is nothing relate to quantity to the fashion show. Hence, this shows that it is the cause of the move is related to declining sales. And the sales are 7% less than before. It is a loss that the company bears nowadays. This loss was clearly shown every year. Because the show was losing its viewers every year.
However, this TV show broadcast annually on CBS and ABC for 20 years. If we see the chart of past years then we can understand it easily. Because in 2018, the show audience was 3.27 million. Whereas, in 2017 we count the audience 4.98 million. While in 2016 the viewers were 6.7 Million. It means the viewers were less in every increasing year. This can show a lack of viewers every year. This lack of audience becomes the cause of the brand’s loss.
Similarly, the new show by lingerie retailer started on the TV. Then the network television was no longer the “right fit” for the annual fashion show. Because they have a new show. That’s why they would focus on a “new kind” of show. Hence, they cancelled their show officially. So, the L Brands CEO Les Wexner told employees, fashion is a business of change. And if they want to grow their business again, then they have to change their fashion and make it unique.
His employees strongly agreed with his statement. And they said; now we must evolve and change to grow. Hence, Model Shanina Shaik told us that the show was cancelled. Now it will no more. She said it is not good for me. Because every year I walk in this show like an angel. And i will really miss all the memories of this show, she said.