The fashion show, which was launched in 1995, would ordinarily attract millions of viewers each year and big-name performers like Rihanna and Taylor Swift.
But ratings dropped and controversies plagued the brand. Its chief executive departed shortly after its 2018 show, which was watched on US TV by three million people – down from nine million four years earlier.
At the time, the New York Times declared Victoria’s Secret a name in “steady decline”, while the Wall Street Journal said it had “lost its appeal”.
In 2017, the event had been held in Shanghai, China, but hit problems when Katy Perry and Gigi Hadid were reportedly denied visas.
Marketing head Ed Razek apologised in 2018 for comments he made about why transgender and plus-sized models were not featured on the runway.