Victoria's Secret Returns to Sexy Aesthetic After 'Woke' Rebrand Falters

The 2026 Victoria's Secret Fashion Show signaled a return to the brand's classic aesthetic, featuring traditional lingerie, sculpted figures, and the highly anticipated comeback of the "Fantasy Bra," worn this year by Kylie Jenner. This event is seen by brand strategists as evidence that the company's 2021 attempt at a "woke" rebrand, which aimed for inclusivity and empowerment, did not resonate with its customer base.

Following the 2021 rebrand, which replaced the iconic "Angels" with the more diverse "VS Collective" comprising influencers, athletes, and activists, Victoria's Secret experienced a plateau in sales. Annual net sales hovered around $6 billion between 2022 and 2025, a notable drop from the $8.1 billion earned in 2019. Critics at the time labeled the rebrand as "virtue signaling" and an inauthentic pivot for a company long associated with a "sex sells" marketing strategy.

A Shift in Strategy

Under new CEO Hillary Super, who joined in late 2024, Victoria's Secret has pivoted back towards embracing its "sexy" image, even renaming its stock ticker to VSXY. This strategic shift appears to be yielding results. Less than a day after the 2026 fashion show aired, the company's stock saw a 4.1 percent increase, its largest single-day gain since the fashion show's return in 2024.

Brand strategists suggest this move taps into a current market trend favoring nostalgia. "Nostalgia sells right now," said Rachael Kay Albers, a brand strategist and marketing expert. "It's a Hail Mary of trying to figure out, 'Is this going to rescue us? We couldn't bring anything new to the table, so let's go back to the old favorites and see.'"

Kimberly Lovi, another brand strategist, noted that Victoria's Secret's core issue wasn't inclusivity itself, but rather the perception that inclusivity and aspiration were mutually exclusive. "Victoria's Secret made a fundamental branding mistake in 2021," Lovi stated. "It attempted to solve a relevance problem by distancing itself from the very identity that made the brand iconic."

Historical Context

The original Victoria's Secret Fashion Show, a prominent event in the late 1990s and early 2000s, was defined by a specific portrayal of sexiness featuring thin models in elaborate lingerie and wings. However, the show was canceled in 2019 amid criticism for a lack of diversity and body inclusivity, as well as controversies surrounding former chief marketing officer Ed Razek's remarks and the company's former CEO Leslie Wexner's ties to Jeffrey Epstein.

Razek retired in August 2019, and Wexner stepped down as CEO in May 2020. The subsequent launch of "VS Collective" in 2021 was an attempt to move away from these issues and present a more inclusive image. However, the rebranding struggled to connect with consumers who felt the company had abandoned its foundational appeal.

Super, who previously led Anthropologie and Savage X Fenty, has emphasized a vision for Victoria's Secret that is "sexy, glamorous and luxurious." She acknowledged in February that some decisions during the 2021 rebrand were driven by a fear of controversy. "That natural human reaction is to want to stay out of controversy," Super told Fortune. She added that while the brand remains focused on diversity, it aims to do so "without being performative... because to me that lacks authenticity."

The success of the recent fashion show suggests that the company, under Super's leadership, is attempting to balance its heritage with a modern approach, focusing on re-establishing the brand's core identity.