Victoria's Secret holiday fashion show canceled as marketing plans 'evolve'

The annual Victoria's Secret fashion show, known for its jewel-encrusted bras and supermodels sporting angel wings, will not be held this holiday season, parent L Brands Inc said on Thursday.

The brand was once the destination for all things lingerie and has been losing customers as more women shift to cheaper bralettes and sports bras from companies like American Eagle Outfitter's Aerie and pop singer Rihanna's lingerie line, Savage X Fenty. When asked if the fashion show would be held this holiday season, Chief Financial Officer Stuart Burgdoerfer said: "No, we'll be communicating to customers, but nothing that I would say is similar in magnitude to the fashion show."

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