The Victoria's Secret fashion show is coming back

According to Timothy Johnson, the chief financial officer of the business, Victoria's Secret plans to increase marketing spending in 2023 in order to increase brand recognition and "support the new version of our fashion show, which is to come later this year." The news was first reported by Retail Dive.

The show's eventual return has been promised by Victoria's Secret in the past, but no timetable has been given. Johnson didn't give any further information about the programme in his comments, which he made during a call to discuss quarterly earnings.

According to a Victoria's Secret spokesperson, the company is dedicated to supporting women and is continuously innovating "in all spheres of the business."

According to the spokesperson, "this will lead us into new spaces like reclaiming one of our best entertainment and marketing properties to date and turning it on its head to reflect who we are today." Later this year, we're eager to reveal more.

Photo: Vogue

In 1995, Victoria's Secret started broadcasting an annual fashion display. Top models Tyra Banks, Gisele Bündchen, and Gigi Hadid modeled the brand's underwear as well as the "Fantasy Bra," which featured genuine diamonds and gemstones, during the presentation. The event has also featured musical performances in more recent years from artists like Lady Gaga and Selena Gomez.

In 2013, there were more than 9.7 million viewers, but five years later, there were only 3.3 million. In the same year, Ed Razek, who was at the time the chief marketing officer of Victoria's Secret's former parent company, caused a stir when he claimed that plus-size or transgender models shouldn't appear on the show because "the show is a fantasy." Razek, who personally selected the models to walk in the show, subsequently apologised for his remarks and ultimately resigned.

Since then, the retailer has been trying to improve its reputation. The angels were replaced with a more inclusive and varied group of models and spokespersons, such as Priyanka Chopra, an investor, and soccer player Megan Rapinoe. The modifications have increased revenue.

"We believe we're two years into a five-year journey in the turnaround of our business," CEO Martin Water said during Thursday's earnings call, "and we have a clear roadmap to be the world's leading fashion retailer of intimate apparel."