Victoria’s Secret cancels iconic fashion show to ‘evolve’ the brand

The lingerie company has officially cancelled the production of its iconic fashion show to reflect society’s views on beauty becoming more inclusive.
3:07 | 11/22/19

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Transcript for Victoria’s Secret cancels iconic fashion show to ‘evolve’ the brand
That Victoria's secret shake-up. It is the end of an era. The famous fashion show officially canceled. Their parent company says the brand must evolve as society's views on beauty have become more inclusive and Paula Faris has all the details. Good morning. Reporter: Good morning. The show has been a mainstay in our society for years featuring virtually every top model and big musical act like Taylor Swift and lady gaga but the plug is being pulled on the Victoria's secret fashion show as the brand faces a myriad of issues. It's the iconic runway show baring angels and a lot of skin. Launching in 1995 it helped kick off the careers of fashion powerhouses like Heidi Klum and Tyra banks but after two decades, the Victoria's secret fashion show is over. The brand's parent company pulling the plug on the televised annual event according to "Forbes" during an earnings call saying they plan to evolve the messages and cut back on costly marketing events. Over the years the brand has been under Ang increasing amount of scrutiny for their lack of inclusivity with former angels citing flaws within the company. Last year supermodel Karlie Kloss telling "Vogue," I didn't feel it was an image that was truly reflective of who I am and the kind of message I want to send to young women about what it means to be beautiful. And just last week, former angel Bella hadid sing she felt the most confident during Rihanna's Fenty show. I was doing other -- there's other lingerie shows and I never felt powerful on a runway like in my underwear. Reporter: The senior level executives have been under fire. The CEO facing an onslaught of criticism for his relationship with sex offender Jeffrey Epstein. Later saying he was, quote, embarrassed and deceived and adding, my trust in him was grossly misplaced. And former senior executive Ed razic explaining why trans women aren't on the roster. It's like, why doesn't your show do this? No, I don't think we should. Well, why not? Because the show is a fantasy. He added that the reason the brand doesn't endorse plus size models is we attempted to do a television special for plus sizes in 2000. No one had any interest in. He later apologized calling his comments insensitive. It has pretty much always put forth this one standard of beauty and a lot of other brands in the marketplace right now aren't doing that and are having ad campaigns that don't show photoshopped models or that have plus size model. Ratings have plummeted as well. Last year's were the lowest since they started televising it and the company's sales also struggling, almost 40 stores closed this year alone. Customers are turning to other brands that seem to resonate with them. It's not that customers aren't buying them anymore. It's just they're not buying from Victoria's secret anymore. We turn now to an American

This transcript has been automatically generated and may not be 100% accurate.

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