"Going forward we don't believe network television is the right fit."

The Victoria's Secret Fashion Show reportedly won't be airing on network TV this year - as the CEO of the parent company said that it was no longer the "right fit." In a memo obtained by CNBC,  L Brands CEO Les Wexner said that "fashion is a business of change" and that the brand "must evolve and change to grow." He explained that they had been “taking a fresh look at every aspect of our business," and that they didn't believe network TV was the right fit for them anymore. He said:

"In 2019 and beyond, we're focusing on developing exciting and dynamic content and a new kind of event. "[It will be] delivered to our customers on platforms that she's glued to … and in ways that will push the boundaries of fashion in the global digital age. "I've never been more excited about the power of this brand."

The fashion show first aired on TV in 2001. The brand came under fire in November last year, after its chief marketing officer claimed that the company doesn't cast plus-size or transgender models as there is "no interest in it." In an interview with Vogue, Ed Razek defended his "brand point of view" by saying he had considered casting transgender and plus-size models in their show - but hadn't done so as "we market who we sell to, and we don't market to the whole world". Adding that he didn't think Victoria's Secret "can be all things to all customers," he continued:

“We attempted to do a television special for plus-sizes [in 2000]. No one had any interest in it, still don’t. "Our show is the only branded special in the world, seen in 190 countries, by 1 billion 6 million people; 45 percent more people saw it last year than the year before. Our direct business is growing substantially — double digits on a monthly basis.”

Following backlash online, Razek issued a statement via the Victoria's Secret Twitter account. https://twitter.com/VictoriasSecret/status/1061106626583822338 It read:

"My remark regarding the inclusion of transgender models in the Victoria's Secret Fashion Show came across as insensitive and I apologise. "To be clear, we absolutely would cast a transgender model for the show. We've had transgender models come to castings and, like many others, they didn't make it. "But it was never about gender. I admire and respect their journey to embrace who they really are."