At best, 2018 was eventful for Victoria's Secret. At worst, it was disastrous.
Sales slid, and it lost a brand CEO, closed stores, and came under intense scrutiny for its racy ads and runway shows, which analysts said failed to resonate in the era of #MeToo.
Customers complained that the quality of its underwear had slipped, and the brand resorted to heavy discounting to shift stock.
Then, in November, things got worse after a Vogue interview with Ed Razek, the marketing chief of Victoria's Secret parent company L Brands, went viral online. Razek said in the interview that he didn't think the company's annual fashion show should feature "transsexuals" because the show is a "fantasy." His comments sparked an outcry online, and Razek issued a formal apology.
When the fashion show ran on TV shortly after, ABC said that ratings dropped by approximately a third from the year before.
Toward the end of the year, L Brands' CEO and founder Les Wexner addressed analysts' concerns during the company's quarterly results. Wexner said that everything was on the table as it looked to improve performance.
"Our new leaders are coming in with a fresh perspective and looking at everything… our marketing, brand positioning, internal talent, real estate portfolio and cost structure," he said.
Eight months later, we took a look at the changes the company has made: