Fashion News Alert: Victoria’s Secret Abandons TV, Kering Vows to Hire Only 18+ Models, Condé Nast Sells Brides, and Travis Scott’s Sneakers Sell Out

Photo by Frazer Harrison/Getty Images

For the past couple of seasons, things have been tough for Victoria’s Secret. The company is experiencing a dramatic decline in sales, criticism that their annual Victoria’s Secret show is sexist and out of touch with how modern women want to be seen, and shrinking viewership of their television spectacular.

Due to all these factors, Victoria’s Secret has decided to eliminate their annual broadcasted Victoria’s Secret show. “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. “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.”

Once the go-to brand in women’s lingerie, Victoria’s Secret has seen their market domination invaded by lingerie brands that offer a similar product at lower prices. Concurrently, their annual television special has declined in viewership from a high of 12 million in 2001 to just 3.3 American households in 2018.

Image courtesy of reddit.com

Travis Scott sells out

Talk about selling out quickly!! Travis Scott’s collaborative sneakers, Air Jordan 1 High OG TS, with Nike Inc. sold out within hours of its general release on Saturday, May 11.

The sneakers are currently retailing for $175. However, after selling out, some are being resold for upward of $1000.

The sneakers were not the only things that sold out in the collaboration between Scott and Nike on Nike’s website. Scott’s shirts and apparel also sold out. Wow, it must be nice to be a part of the Travis Scott tribe!!

Image courtesy of euronews.com

Over 18 is the charm

French fashion holding company Kering has agreed to only employ models aged over 18 years of age. There has been a lot of criticism of fashion brands, casting agents and model management companies looking to employ models that are under the age of 18. These ethical conversations around underaged models have been going on the fashion industry for decades. Kering is one of the first big fashion brand holding companies that is committed to doing something about it.

 Kering has committed to not hiring underaged models starting in 2020. “We believe that we have a responsibility to put forward the best possible practices in the luxury sector and we hope to create a movement that will encourage others to follow suit,” said Kering’s chairman and chief executive François-Henri Pinault.

 Kering is extending the 18+ age requirement to fashion campaigns, runway show and brand promotion. Kering owns Saint Laurent, Gucci, Balenciaga, Bottega Veneta, Alexander McQueen, Boucheron, Christopher Kane, Brioni, and many others.

Image courtesy of Brides

Brides buyout

According to The New York Times, Condé Nast has sold Brides magazine. Brides magazine has been sold to Dotdash.

“It wasn’t like there was crazy bidding at the end,” said Neil Vogel, the head of Dotdash, which is part of InterActiveCorp (IAC), the company behind Tinder, Match and OKCupid. “It’s clear to us that there wasn’t a ton of investment behind this in the last few years.” “We’re not buying this for print,” Mr. Vogel said. “We’re buying this for the editorial team and for digital.”

 As the oldest bridal magazine—launched in 1934—at one time Brides magazine was one of Condé Nast’s most profitable print publication. Unfortunately, circulation for Brides magazine has fallen by 4% over the past few years. Brides with Golf Digest was put up for sale in the summer of 2018. Both Condé Nast publications have found buyers.

Vogel intends to scrap the current print version of Brides and redesign the publication for a savvy digital audience. Dotdash is the current incarnation of About.com, which was sold to The New York Times in 2005, and sold again to IAC in 2012. IAC is owned by media mogul billionaire Barry Diller.

—William S. Gooch

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