Rumours began circling after Angel Shanina Shaik told The Daily Telegraph that the show wouldn't be taking place back in July. Stuart B. Burgadoerfer, the chief financial officer and executive vice president of L. Brands, confirmed the decision last week, WWD reports.
"We think it’s important to evolve the marketing of Victoria’s Secret," Burgdoerfer said.
"We recognise and appreciate that the communication of the brand, the offerings, the emotional content of Victoria Secret is obviously an important thing."
However Burgdoerfer also added that the VS team will now focus on catering to the customer.
"[The show] was a very important part of the brand-building of this business and was an important aspect of the brand and a remarkable marketing achievement," he continued.
"And with that said, we’re figuring out how to advance the positioning of the brand and best communicate that to customers and that’s among the things that [Victoria’s Secret chief executive officer] John [Mehas] is focused on."
The show has been struggling for some time. Last year, following controversial comments made by former chief marketing officer ED Razek, fans boycotted the brand - the annual Victoria's Secret holiday show was viewed by only 3.27 million people, its lowest rating ever.
"This is a business that’s had challenges in lingerie now for three or four years and it’s going to take some time to stabilise it and get it back to where it should be. We believe the most important thing is the quality of the merchandise itself, the quality of our execution and selling in stores and online."