Victoria’s Secret has been under fire for the past four years, trying to repair its image after accusations of non-inclusivity and lack of body-positive models led the company to shut down its iconic group of supermodels called “Angels” in 2021.
Now, the company is looking to ramp up its redemption arc by bringing back a “new version” of the fan-favorite Victoria’s Secret Fashion Show after a four-year hiatus.
“We’re going to continue to lean into the marketing spend to invest in the business, both at top-of-funnel and also to support the new version of our fashion show, which is to come later this year,” said company CFO Timothy Johnson in an earnings call on Friday. “So, we’re going to invest in our marketing expense. We’re going to invest in the future.”
Victoria’s Secret did not clarify what the revamped version of the show would entail, but in a statement obtained by People, the company said that the new show would reflect its “new brand projection and mission” towards inclusivity.
Related: Victoria’s Secret and Pink Brands CEO Suddenly Resigns After Less Than One Year
“This will lead us into new spaces like reclaiming one of our best marketing and entertainment properties to date and turning it on its head to reflect who we are today,” the statement read. “We’re excited to share more later this year.”
Victoria’s Secret did not immediately return Entrepreneur‘s request for comment.
The famed fashion show was canceled after its 2018 run due to low ratings and ongoing controversy about the company’s leadership and culture.
Last summer, a three-part docuseries called “Victoria’s Secret: Angels and Demons” dropped on Hulu, exposing former CEO Les Wexner and his ties to disgraced financier Jeffrey Epstein.
The former CEO of Victoria’s Secret and Pink brands, Amy Hauk, suddenly resigned last December after less than one year in the position. She was succeeded by Victoria’s Secret & Co. CEO Martin Waters.
The news of the runway relaunch comes after the company’s acquisition of Adore Me, Inc. for an estimated $400 million.
Victoria’s Secret was down just over 15% as of Monday morning.
Related: Singer Encourages Fans to Call Out Victoria’s Secret After Song Garners Response From Company
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