New York - The annual Victoria's Secret fashion show, known for its jewel-encrusted bras and supermodels sporting huge angel wings, is bidding farewell to network television.
Parent company L Brands Inc said on Friday it was re-thinking the TV special, saying the Victoria's Secret brand "must evolve and change to grow" as it aims to turn its business around.
"For the past few months, we've said that we are taking a fresh look at every aspect of our business," the company said in a memo sent to employees by Chief Executive Les Wexner. Screenshots of the memo were posted online. The memo was first reported by CNBC.
"We have decided to re-think the traditional Victoria's Secret Fashion Show. Going forward we don't believe network television is the right fit," Wexner said.
The company did not immediately respond to requests from Reuters for comment.