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Victoria's Secret's show draws eyeballs

December 12, 2014Written by Tom Ryan

While Macy's legendary Thanksgiving Parade has long reigned atop retail's list of spectacles since starting in 1924, the Victoria's Secret Fashion Show may have surpassed it in less than 20 years.

The event started in 1995 with a typical understated runway show and a reported budget of only $120,000. Gloss.com described the first show as "good place to find totally normal nightgowns to buy for your mom."

The event became a spectacle in the late nineties when models started wearing extravagant wings and showcasing "Fantasy Bras," or bras laden with diamonds, rubies and sapphires costing $2 million or much more. National broadcasts with star musical performances and more theatrical approaches began in 2001. Style.com described the event as "one that's part concert, part catwalk, and part pop culture explosion."

The latest show, which L Brands, Victoria's Secret's parent, said cost a record $20 million, ran on CBS on Tuesday and featured musical performances by Taylor Swift, Ed Sheeran, Ariana Grande and Hozier. The high cost was partly due to the fact that it took place in London.

According to TVbyTheNumbers.com, the show drew 9.2 million viewers in the U.S., the highest of the night, but many more saw it on the internet and overseas.

Often describing the show as "the Super Bowl for supermodels," Victoria's Secret's marketing director Ed Razek told Business Insider that the show reached 500 million people across 192 countries. He said, "That is completely unique in the industry. No one does what we do."

Much like Macy's Thanksgiving Day Parade, it's tough to determine the impact on branding or sell-throughs. Much of the product seen doesn't sell at retail. The event also offered fresh fodder for critics who claim the brand objectifies women or promotes unrealistic body proportions.

According to Variety, however, this year's show scored the highest rating with the women 18 to 34 demographic since the season premier of the drama, Scandal, in September.

On L Brands' third-quarter conference call before the event, CEO Sharen Turney said the brand had been "getting great buzz from the press in London," where the chain has eight mall locations and a flagship. She added, "We have continually been picked up in the press far beyond, it has far reached beyond holiday."

In-store events and watch parties worldwide also supported the event. Ms. Turney added, "When you think about the opportunities around where our next year show will be, that world is our play station so you never know so stay tuned."

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