Look at any photo from the mid-2000s Victoria’s Secret Fashion Show and you’ll see the same thing: glitter, massive wings, and the most famous sexy victoria secret models in the world walking a runway that felt like the center of the universe. It was a cultural juggernaut. Names like Gisele Bündchen, Adriana Lima, and Alessandra Ambrosio weren’t just models; they were household names. But then, things got weird. The ratings cratered. The wings stayed in storage. People started asking if the "fantasy" the brand sold for decades was even relevant anymore.
Honestly, it wasn't just about the clothes. It was about an era of celebrity that basically doesn't exist in the same way today. You had women like Tyra Banks who transitioned from the runway to being a literal media mogul. That's a level of influence that’s hard to replicate with just a TikTok following.
The Era of the Super-Angel
The early days were wild. When Victoria’s Secret launched the "Angel" concept in 1997 with Helena Christensen and Stephanie Seymour, they weren't just hiring models to wear bras. They were creating characters. By the time the 2010s rolled around, being one of the sexy victoria secret models meant you had reached the absolute peak of the industry. You weren't just "working," you were a global brand ambassador with a multi-million dollar contract.
Adriana Lima is probably the best example of this. She walked in 18 shows. Think about that for a second. That is nearly two decades of maintaining a specific physical standard and a public persona that never slipped. She famously wore the "Fantasy Bra" three times—including the 2008 Black Diamond Fantasy Miracle Bra, which was worth $5 million and featured over 3,500 black diamonds. It was over-the-top. It was expensive. It was exactly what the brand stood for at the peak of its powers.
But the industry was shifting under their feet. While the brand was focusing on this "perfect" image, the world was moving toward transparency. Social media changed the game because it removed the mystery. When you see a model’s "behind the scenes" life on Instagram, the untouchable "Angel" persona starts to feel a bit... dated.
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Why the Victoria's Secret Models Brand Almost Collapsed
By 2018, the cracks were everywhere. The TV ratings for the annual show, which used to pull in 12 million viewers back in 2001, dropped to an all-time low of 3.3 million. Why? Because the definition of what people found aspirational had changed. It wasn't just about being "sexy" in a traditional sense anymore. People wanted to see themselves reflected in the media they consumed.
Then came the PR disasters. Ed Razek, the longtime marketing chief, made some comments in a Vogue interview about why the show shouldn't include "transsexuals" or plus-size models because the show was a "fantasy." The backlash was immediate. And it was loud. It highlighted a massive disconnect between the brand's leadership and the actual customers buying the product.
Models like Karlie Kloss eventually left. Kloss famously told British Vogue that she didn't feel the imagery was reflective of who she was or the message she wanted to send to young women. When your top talent starts walking away for "feminist reasons," you know you've got a problem.
The Transition to the VS Collective
In 2021, the brand did something nobody expected. They officially retired the "Angels." No more wings. No more specific "Angel" contracts. Instead, they launched the VS Collective.
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- Paloma Elsesser: A plus-size icon who brought a completely different silhouette to the brand.
- Priyanka Chopra Jonas: An actor and producer who added global star power beyond just "modeling."
- Megan Rapinoe: An athlete and activist who literally could not be further from the original 1990s mold.
This wasn't just a marketing tweak; it was a total identity crisis played out in public. Some people loved it. Others felt like the brand was losing its "sparkle." But the reality is that the old business model was dying. You can't sell a 1995 version of womanhood to a 2025 audience. It just doesn't work.
The Return of the Show: What's Different Now?
After a few years in the wilderness, the show came back in 2024. But it looked different. If you watched the reboot, you saw a mix of the legends and the new guard. Tyra Banks came back. Gigi and Bella Hadid were there. But so were models of all ages, sizes, and backgrounds.
The interesting thing is that the "sexy" element didn't go away—it just changed its focus. Instead of being "for the male gaze," which was the big criticism for years, the brand started leaning into "female empowerment." Whether that's actually true or just better marketing is up for debate. But you can't deny that seeing a 50-year-old Kate Moss walk the runway alongside her daughter Lila felt like a moment. It acknowledged the history of the sexy victoria secret models while trying to fix the mistakes of the past.
Looking at the Numbers
If we look at the financial side, the brand is still a behemoth, though it’s fighting for market share against newcomers like Rihanna’s Savage X Fenty and Kim Kardashian’s Skims. Those brands succeeded because they started where Victoria's Secret eventually had to go: inclusivity.
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- Market Share: At its peak, VS owned over 30% of the US lingerie market.
- Growth: They've had to aggressively pivot to digital-first sales to survive.
- Diversity: The casting in 2024 was statistically the most diverse in the company's 40-year history.
The Impact of the "Originals"
We can't talk about this without mentioning the sheer work ethic of the original crew. Candice Swanepoel, Behati Prinsloo, and Lily Aldridge were basically athletes. The training regimes were legendary—and honestly, pretty controversial. They would talk about liquid diets and two-a-day workouts leading up to the show. That’s the part people don't always see. It’s a job. A very high-stakes, physically demanding job.
Gisele Bündchen’s book, Lessons: My Path to a Meaningful Life, actually sheds a lot of light on this. She talks about the anxiety she felt walking the runway in her underwear as she got older. Even the women who seemed like they had it all were struggling with the pressure of being "perfect."
What's Next for the Industry?
The future isn't about one single "look." It's about influence. Today’s sexy victoria secret models are more likely to be found on a podcast or running their own skincare line than just appearing in a catalog. They are entrepreneurs.
Think about Rosie Huntington-Whiteley. She used her VS platform to build Rose Inc, a massive beauty brand. She didn't just wait for the phone to ring; she built a business. That’s the new blueprint. If you want to stay relevant in fashion now, you have to be more than just a face. You have to be a voice.
Actionable Takeaways for Following the Industry
If you're interested in the evolution of fashion and celebrity branding, there are a few things you should keep an eye on to see where this is all going:
- Follow the Money: Watch the quarterly earnings reports of VS vs. Skims. It tells you exactly what consumers actually value (comfort vs. spectacle).
- Track the Talent: Look at which models are signing "exclusive" deals. Exclusivity is becoming rarer as models prefer to be "free agents" who can work across multiple brands and platforms.
- Archive Diving: Check out the "Victoria's Secret: Angels and Demons" documentary if you want the gritty, behind-the-scenes look at the brand's darker history and its ties to Les Wexner and Jeffrey Epstein. It’s eye-opening and provides essential context for why the rebrand was so necessary.
- Pay Attention to the Creative Directors: The people behind the scenes—like Emmanuelle Alt or Carine Roitfeld—often dictate the "vibe" of these shows. When the stylists change, the brand's soul usually follows.
The era of the "Angel" might be over, but the influence of these women is still baked into the DNA of the fashion world. It’s just a bit more human now. Sorta.