Runway revival: Victoria’s Secret wins over China

What happened Following a six-year break, the Victoria’s Secret fashion show officially returned to the runway last night. Staged in New York City and aired live across TikTok, YouTube, Amazon Live and Instagram, the world watched closely to see if the brand could reclaim its title as the jewel in the lingerie crown. Anticipation for the show had been mounting for months. After unveiling an all-female performance lineup in September, featuring Cher, Tyla, and K-pop icon Lisa, the brand teased the return of its legendary “Angels,” with names like Adriana Lima, Gigi Hadid, and Tyra Banks making headlines ahead of the runway. But changes were apparent. For one, the new iteration featured more body diversity on the catwalk compared to previous castings, with models such as Paloma Elsesser, Ashley Graham, and Jill Kortleve, alongside trans models Alex Consani and Valentina Sampaio in attendance. The brand retired its iconic “Angels,” replacing them with the “VS Collective,” emphasizing its commitment to a more inclusive runway. Then there was the shift in products themselves. The collection – made shoppable immediately following the show – included sleepwear, as well as the brand’s new adaptive intimates line, which launched last year. It’s a notable shift away from the glitz and fantasy of its former collections, as the company pivots to more comfort-driven items. The Jing Take After pausing its iconic runway shows in 2019, Victoria’s Secret is edging back into the cultural spotlight, thanks to a shift in strategy, high-profile endorsements from pop princess Sabrina Carpenter, and the addition of Savage x Fenty’s former CEO, Hillary Super. In China, netizens welcomed the return of the revamped show, now with a more inclusive and community-driven ethos. The hashtag #victoriassecret has 15.7m views on Xiaohongshu as of this writing, under which viewers are sharing their thoughts on the brand’s comeback. “When [Adriana] Lima appeared on the stage, I felt that the real Victoria’s Secret was back,” one user commented on a Xiaohongshu post. "So great!" Weibo user @csuwenwen penned. "Beauty has always been diverse. It's not just thin people who are beautiful." The presence of K-pop idol Lisa further fueled engagement; the Weibo hashtag “Lisa will perform at the Victoria’s Secret Fashion Show finale” (#lisa将在维密秀压轴表演) has racked up over 64.5 million reads so far. Chinese supermodel Liu Wen’s runway presence is also driving buzz, as clips of her runway walk are circulating widely across the platform. Victoria’s Secret made its first foray into China in 2015 with accessories, before opening its sprawling four-story, 2,402 sqm flagship in Shanghai in 2017. That same year, the brand made a bold statement by choosing China for its first-ever runway show outside of Europe and the US, taking place at Shanghai’s Mercedes-Benz Arena. Since then, Victoria’s Secret has been strengthening its position through collaborations with rising local talent. Last year, it launched an exclusive capsule with Hunan-born designer Rui Zhou’s gender-fluid label Ruibuilt, showcased at a Shanghai pop-up with domestic incubator Labelhood. The brand also partnered with Luckin Coffee to celebrate the return of its annual fashion show. Earlier this year, the company teamed up with Canadian Chinese designer Susan Fang, debuting a collection at London Fashion Week’s AW24 season. The collaboration was later released in China in spring to coincide with China’s Valentine’s Day. Victoria’s Secret’s strong ties with China are hardly unexpected. Facing stiff competition from local disruptors like Neiwai and Ubras, the brand has been rethinking its localization strategy. In 2022, it deepened its commitment with a joint venture alongside Hong Kong-based lingerie manufacturer Regina Miracle, with Victoria’s Secret holding a 51% stake and Regina Miracle the remaining 49%. Its investment in the mainland has been paying off. According to Regina Miracle, Victoria’s Secret China reported annual revenue of approximately $240 million (HK$1.88 billion) for the fiscal year ending March 31, 2024, up 40% YoY, and a net profit of about $11 million (HK$85.4 million), marking a turnaround from losses. The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.

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Runway revival: Victoria’s Secret wins over China