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Goodbye angels? Victoria’s Secret’s major brand overhaul | ticker VIEWS

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Victoria Secret is abandoning its ‘angel’ ambassadors, in a dramatic re-brand attempt

Last week, Victoria’s Secret announced a new ambassador initiative that will spearhead a major re-branding strategy.

 “This is a dramatic shift for our brand, and it’s a shift that we embrace from our core,’ said CEO Martin Waters.

This means the multi-million dollar Fantasy Bras, bedazzled wings and the annual Victoria’s Secret Angels fashion show, will be replaced by the “VS Collective,” a group of seven famous, successful women — not all of whom are (just) models. 

In the past, the company has been criticised for its models being too thin or underweight.

Candice Swanepoel wears $10,000,000 fantasy bra in the Victoria Secret Fashion Show (2013)
There are 4,200 jewels included, all set in 18-karat gold. The Fantasy bra became one of the largest draws to the annual spectacle.

Angels are no longer ‘culturally relevant’

Victoria’s Secret announced it’d cancel its famous annual televised runway show indefinitely in 2019, as viewing figures fell to 3.3 million the year prior.

A spokesperson for Victoria’s Secret said that “As an entertainment brand, with a huge cultural footprint we are reimagining what a fashion show could look like for us in the future.”

Martin Waters, Victoria’s Secret chief executive told The New York Times that “right now” he did not see the Angels as being “culturally relevant”.

U.S soccer star, Megan Rapinoe, will be one of the new faces of Victoria’s Secret.

In the past, Rapinoe, an LGBTQIA+ activist, has described the brand as “patriarchal, sexist, viewing not just what it meant to be sexy but what the clothes were trying to accomplish through a male lens and through what men desired”.

“I am humbled to join this group of incredible women to drive change within the Victoria’s Secret brand and beyond,” said Rapinoe of her role in the VS Collective via a press statement.

“So often I felt myself on the outside looking in with brands in the beauty and fashion industry, and I’m thrilled to be creating a space that sees the true spectrum of ALL women.”

“The VS Collective is an ever-growing group of accomplished women who share a common passion to drive positive change”

VICTORIA SECRET SAID IN A STATEMENT.

“These extraordinary partners, with their unique backgrounds, interests and passions, will influence and shape the future of the world’s largest and most recognizable brand for women.”

As part of the VS Collective roll-out, the women will share their stories via a podcast hosted by de Cadenet. 

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Streaming service shift and the award season snubs

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Netflix Introduces Changes to Subscription Model, Academy Award Nominations Spark Cinematic Buzz, and the Doomsday Clock Continues its Ominous Ticking.

Netflix is set to discontinue its ad-free Basic subscription in select countries, commencing with Canada and the UK in Q2 2024.

This strategic shift introduces a significant price increase for the baseline entry, signalling potential adjustments to Netflix’s global pricing structure.

Simultaneously, the 96th edition of the Academy Award nominations has stirred cinematic debates, with the prevailing question being whether the upcoming season will be dominated by “Barbie” or “Oppenheimer.” These contrasting narratives set the stage for a fierce competition, highlighting the diverse and compelling offerings in this year’s film industry.

Beyond the realm of entertainment, the Doomsday Clock, a symbolic representation of the likelihood of a human-made global catastrophe, continues its ominous countdown.

Maintained since 1947 by the Bulletin of the Atomic Scientists, the clock serves as a metaphor for threats arising from unchecked scientific and technological advances. As global tensions, environmental challenges, and technological risks persist, the ticking of the Doomsday Clock serves as a poignant reminder of the urgent need to address multifaceted threats to humanity.

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Adidas faces potential $320M Yeezy shoe write-off post-Kanye split

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Adidas is contemplating a significant financial blow as it considers writing off $320 million worth of Yeezy shoes following its separation from music and fashion icon Kanye West.

The sportswear giant’s decision to sever ties with West’s Yeezy brand has left a mountain of unsold merchandise, threatening to dent the company’s balance sheet.

The partnership between Adidas and Kanye West, which began in 2013, had been immensely successful, with Yeezy shoes becoming a highly sought-after fashion statement.

However, recent controversies and disagreements between West and Adidas prompted the sportswear company to distance itself from the celebrity designer.

The massive inventory of Yeezy shoes now presents a dilemma for Adidas, as it grapples with finding a solution to deal with the surplus stock. A $320 million write-off could significantly impact the company’s financial performance in the short term.

Adidas is currently exploring various options, including discounting, donating, or repurposing the unsold inventory to mitigate the financial hit.

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Warner Bros discovery warns of Hollywood’s ‘real risk’ post-strikes’

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Warner Bros Discovery, has issued a stark warning regarding the ‘real risk’ that Hollywood faces in the aftermath of the recent strikes that have taken a considerable toll on the industry’s financial health.

The strikes, which disrupted film and television production for several weeks, resulted in substantial financial losses for studios, production companies, and countless industry professionals.

Warner Bros Discovery emphasised the necessity for a resilient and adaptable approach to navigate the ongoing challenges and uncertainties facing the film and television sector.

The conglomerate stressed the importance of implementing measures to mitigate such risks in the future, which include fostering better labour relations and contingency planning to safeguard against potential disruptions.

The message underlined the need for the industry to adapt to the evolving landscape of content creation and distribution, particularly in the digital era.

This warning from Warner Bros Discovery highlights the need for the entertainment industry to recognise the ever-changing dynamics and economic challenges, and the importance of preparedness to maintain its prominent position in the global market.

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