Rebranding Victoria’s Secret

A case study in trust, transparency and reputation management.

One of the most closely watched business comeback stories gained new momentum this year as attention refocused on the evolving success of iconic fashion retailer Victoria’s Secret. The company’s 2026 PR strategy centres equally on building credibility and increasing awareness. To deliver on this, the brand must ensure its products, casting, and shopping experience align with its updated image.

The brand is an interesting case study of rebuilding corporate trust and credibility through rebranding. Traditionally associated with glamorous lingerie campaigns, the company faced criticism for narrow beauty ideals, lacking inclusivity, and a disconnect between its public image and changing social values.

Its new direction underscores a central principle of corporate communication: changing a brand’s image is not the same as rebuilding stakeholder trust.

For Europeans, this distinction is particularly relevant. People expect brands to demonstrate authenticity, inclusivity, ethical responsibility, and transparency rather than relying on aspirational advertising.

Rebranding strategy: From exclusivity to a broader definition of femininity

Victoria’s Secret’s transformation began in response to years of criticism over how it portrayed women and ran its business. In 2021, the company introduced initiatives aiming to boost diversity, empowerment, and a more inclusive definition of femininity.

The campaigns featured models of different body types and backgrounds, and product development included mastectomy bras and other products that addressed more diverse consumer needs.

However, the brand’s repositioning has not followed a completely linear path. The 2024 return of the Victoria’s Secret Fashion Show sought to combine greater representation with the glamour the brand has long been associated with.

In 2025, the company built on its strengths, embracing its core identity while updating what “sexy” means today. This evolution reveals a key challenge for companies: how can they show real change without losing the core identity that made them successful?

Restoring trust

Victoria’s Secret has taken visible steps to be more inclusive, but these efforts have not immediately led to more trust from stakeholders.

A 2025 academic study on how consumes view the brand’s transformation found that many online comments were skeptical about the authenticity of its repositioning. Some saw the new messaging as a reaction to criticism or as just for show, instead of proof of real change inside the company.

The study warns about woke-washing: using progressive language without making meaningful, lasting changes in how the company operates.

Trust is built on consistency between promises and actions, not on advertising campaigns alone. For Europeans, who increasingly encounter corporate sustainability and responsibility claims in a demanding regulatory environment, a brand's credibility depends on whether it can substantiate its values.

However, it would be wrong to say the rebranding has totally failed. The company has made real changes by improving representation and making products more accessible, not just changing how things look.

Transparency and corporate accountability

The brand still needs to show real progress in being transparent. While its ads promote a broader view of femininity, true accountability means doing more than just featuring diverse models.

To build trust, the company should share clear, measurable updates on inclusive product sizing, accessibility, workplace culture, leadership diversity, and how it works with stakeholders. It also needs to be honest about areas where it still has work to do.

In Europe, it’s especially important to communicate consistently in every market. The brand’s inclusive message should show up in customer experience, product choices, and local marketing, not just in big global ads.

This would make transparency a real, ongoing commitment instead of just a marketing message.

Improving awareness

Encouraging signs suggest the company has regained cultural visibility. The return of its fashion show and its renewed emphasis on entertainment and glamour generated considerable public attention.

According to the company’s 2026 proxy statement, net sales increased by 5% in fiscal 2025 to $6.553 billion, compared with $6.230 billion in fiscal 2024.

These signs show the brand is doing better in business and staying relevant. However, awareness is not the same as trust. A popular fashion show can get large attention without necessarily changing negative opinions. More sales don’t necessarily mean people believe social commitments are authentic.

A more complete assessment would combine brand awareness and engagement metrics with consumer trust surveys, client retention, perceptions of inclusivity, and evidence of organisational accountability. Publicly available evidence does not yet show that the rebranding has achieved all these outcomes.

The identity crisis

After years of rebuilding its image, the company is reshaping its iconic fashion show into a more communal, accessible event, from ticket drops to a nationwide search for a new Angel.

The fashion show took place in Los Angeles on 18 October, generating renewed brand visibility through its blend of spectacle and nostalgia. However, reactions were divided over whether the brand had found the right balance between its established identity and a more inclusive image.

Moving forward, creating engaging, shareable social media content will be important to strengthening the brand’s connection with younger consumers and increasing its relevance among the next generation.

Victoria’s Secret illustrates both the potential and the limitations of rebranding as a corporate communication strategy. Its renewed visibility and commercial performance suggest progress in attracting attention and reconnecting with consumers, but mixed reactions to its inclusive positioning show that rebuilding trust is a long and complex process.

The key lesson is that reputation cannot be rebuilt through communication alone. It requires transparent, consistent and measurable action that gives stakeholders credible

reasons to believe what the organisation says.

Artist's impression Roy Lichtenstein