Performance Continues To Slump, And This Year It Will Close 53 Stores.

The age of underwear myth will end.

Leslie Wexner, chairman and chief executive officer of L Brands group, said in a company briefing on Friday that the show will face major adjustments.

He pointed out that fashion is a constantly changing industry that must grow through development and pformation. Television and networks are no longer suitable for big shows. They will reassess the traditional secret show and look for new forms after 2019.

Some analysts believe that this means that the show will be suspended or even cancelled.

The social media fever and attention of Wei Mei show are far behind.

According to the data, the ratings of the 2015 show fell sharply by 30%, and the number of viewers dropped to 6 million 590 thousand.

In 2016, the audience rating of viewers aged 18 to 49 was only 2.1, compared with 2.3 in 2015, which was reduced by 9%.

In 2017, the total number of viewers in the Shanghai show was less than 5 million, of which the audience rating of viewers aged 18 to 49 was only 1.5.

Last year, the ratings of ABC's broadcasts continued to decline, with the total number of viewers dropping to 3 million 270 thousand.

Behind this is the millennial generation who has redefined what is truly attractive brand or product, not only about the image of women, but also about company values and ethics.

Some analysts pointed out that the family may still live in "fantasy", and the real women need not only sports and work, but also breastfeeding and nurture the next generation. Taking care of their husbands and parents and blindly conveying the concept of "sexy king" to female consumers is meaningless.

The decline in freshness, the direct impact of the decline in flow is income and profit. After the record of $7 billion 780 million in the 2016 fiscal year, the performance began to turn sharply, and revenue fell by 9% to $7 billion 300 million in fiscal 2017.

Last year's performance also showed no improvement. Revenue continued to fall by 0.17% to 7 billion 375 million U.S. dollars, and its profitability declined again. L Brands's net profit fell 34.5% to 640 million US dollars a year.

The founder of the "sexy myth" was Roy Raymond. In 1977, he opened the first secret store to provide sexy, fashionable and romantic underwear products for consumers. At that time, consumers' demand for underwear remained at the most basic stage.

Breaking the conventional underwear products made the first year of Roy Raymond open for $500 thousand, and in the next 5 years he opened 5 more stores.

Excessive expansion made Roy Raymond's capital chain burdened. Eventually, it had to sell the $5 million annual revenue of $1 million to the The Limited group, the predecessor of L Brands, in 1982.

Performance continues to slump, and this year it will close 53 stores.

The Limited was founded by Leslie Wexner. Besides secret, it also owns The Limited, Express and other clothing brands.

In the commercialized operation of Leslie Wexner, it began to expand rapidly in 80s, and the product line was extended to shoes, evening dress and perfume. The valuation rose to $500 million, which was 100 times that of the owner.

However, the real popularity of the whole world was in 1995.

In order to be able to reach more consumers, Wei first launched the annual show that affected the whole underwear industry.

Since the beginning of the first "secret show", this activity attracted countless male consumers' eyes.

In 2001, the first show was broadcast on ABC television. The Fantasy Bra, valued at $12 million 500 thousand, was introduced by supermodel Heidi Klum, which attracted many consumers' attention.

In 2003, its sales amounted to US $2 billion 800 million and has more than 1000 stores worldwide.

In November 13, 2007, the angel became the first trademark to be retained in Hollywood Walk of Fame.

In 2009, it sold 600 underwear per minute.

Although the market potential is so great, the expansion of underwear category in Chinese market is not easy.

As a DNA underwear brand that is pleasing to men, the company called it "angel" for its show supermodel, and became one of the most representative business cards of the brand.

It is reported that there is a strict standard in choosing "angel" models. In order to be successfully selected, many models will start self-discipline diet and do 8 hours of shaping training in the first half of the selection so as to achieve the "sexy" standard.

Therefore, it is regarded as the highest hall in the modeling world.

Take Forbes's latest global model income rankings as an example. Kendall Jenner, Karlie Kloss, Gisele Bundchen, Cara Delevingne, Gigi Hadid and Bella Bella enter the top 10 supermodels, all of which are "Secret Angels".

In addition, it includes Adriana Lima, Heidi Klum, Doutzen Kroes, Selita Ebanks, Alessandra Ambrosio, Miranda, Heidi, and Doutzen, and has been selected as the world's 100 most beautiful people in the magazine.

The crisis always comes when people are most at risk.

After nearly 15 years of brilliance, Wei Wei, who has been on the top of Pyramid, seems to have forgotten the cruelty of the market.

As consumer preferences change faster and faster, the aesthetic era of pleasing men has quietly ended.

The fact that Wei's losing power actually had early signs.

In 2009, the appearance of Chinese models suddenly appeared on the show. Liu Wen became the first Chinese supermodel to step on the stage. In 2011, he became the second "Chinese angel" for the secret show. After that, Chinese supermodels such as Xi Mengyao, Sui Xiaowen and Qin Shupei were also swept away.

In 2017, Liu Wen moved to Shanghai, and invited 7 Chinese supermodels, including Liu Wen, Xi Mengyao, Sui Xiaowen, He Sui, Xie Xin and Chen Yu, to become the most popular Chinese models in the history.

In the same year, it also opened flagship stores in major cities such as Shanghai, Beijing, Guangzhou and Chengdu.

Last year, the New York Wei Ming show unexpectedly announced that Xi Mengyao, who fell down in 2017, and the supermodel ho Sui are the ambassadors of Greater China brand.

According to US media reports, the cost of last year's exhibition was over 130 million. This is a major financial pressure for the parent company L Brands, which is not optimistic.

Leslie Wexner also admitted that the decline in the popularity of the Aerie and the downturn in its performance were also affected by the emerging underwear brands such as Aerie, especially their neglect of the large size women's underwear market, which accelerated the loss of market share.

The spokesman for L Brands has not yet made any further response to the next step of the program. Leslie Wexner said in a memorandum that they will focus on digital development in 2019.

Last week, the group has registered a new trademark, "First Love", which is regarded as a move by the industry to mark the Third Love, the Internet underwear brand.

Ike Boruchow, an analyst at Wells Fargo, said that it was the right step for the brand to make the company profitable again.

The collective Carnival of big show and the exaggeration of social media often hide the deep-seated problems behind the brand. Next step is to think about how to better provide more fresh products and bring consumers into the store again.