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Rihannaās āSavage X Fenty Showā dropped on Amazonās (AMZN) Prime video service ā and the reviews could spell more trouble for struggling lingerie brand Victoriaās Secret (LB).
The singerās show, which was filmed in New York City September 10th before making its Prime debut last Friday, featured a diverse group of models, A-list performances ā and even Rihanna herself.
On social media, fans gushed over the showās inclusivity ā with some already comparing it to the recently-nixed Victoriaās Secret Fashion Show. The brand abruptly cancelled it after recent controversies, including a connection to disgraced financier Jeffrey Epstein, and an executiveās comments about transgender models that sparked a furor.
To its credit, Victoriaās Secret is looking to turn things around.
Controversial CMO Ed Razek stepped down recently, the brand hired its first openly transgender model and it seems to have full support from its parent company. And at L Brandsā investor meeting earlier this month, Victoriaās Secret executives agreed that things need to change ā with the head of its lingerie department promising an āevolution.ā
ā[Customers have] been very vocal about what [theyād] like to see from us in terms of inclusivity, #MeToo, rethinking the fashion show. Weāre essentially in agreement at this,ā he said.
Yet Rihannaās fledgling career as a make-up and clothing mogul shows how upstarts are laying claim to territory Victoriaās Secret once owned indisputably. Meanwhile, the lingerie company, owned by L brands, saw quarterly sales fall once again in its latest reported period, slipping 7% from a year earlier. The stock is down roughly 25% year to date.
Victoriaās Secret knows the stakes are high. Brand changes already in the works will include hiring more diverse models, and, taking a cue from competitors like Aerie (AEO), which rely on untouched advertisements and body-positive campaigns to drive sales.
Still, investors are cautiously optimistic with many industry experts believing it might just be too little too late.
Former Victoriaās Secret model Nina Agdal previously told Yahoo Finance the brand āhas a long way to goā before rebounding.
Alexandra Canal is a Producer at Yahoo Finance.
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