The energy back in November 2018 felt... off. If you were watching the Victoria's Secret Fashion Show 2018, you probably remember the glitter and the high-octane performances by Bebe Rexha and The Chainsmokers, but there was this weird, underlying tension. It was held at Pier 94 in New York City. It returned home after stints in Paris and Shanghai, looking for a win.
It didn't get one.
Honestly, looking back, that night was the moment the bubble finally burst. You had the biggest models in the world—Kendall Jenner, Gigi and Bella Hadid, Adriana Lima—walking a runway that was rapidly losing its cultural grip. People were starting to ask why the "Fantasy Bra" still mattered when the world was moving toward inclusivity. It's wild to think that only a few years prior, this show was the Super Bowl of fashion. By 2018, it felt like a time capsule that someone had accidentally opened too late.
The Adriana Lima Exit: A Genuine Tear-Jerker
Let’s talk about Adriana Lima. She was the heart of that brand for nearly two decades. When she walked out for her final bow during the Victoria's Secret Fashion Show 2018, the atmosphere shifted from "party" to "funeral" pretty fast. She stood at the end of the runway, hands over her heart, visibly sobbing. It wasn't just a model retiring; it was the exit of the last "Super" from the brand’s golden age.
She had been there since 1999. Think about that. She outlasted Gisele, Tyra, and Heidi.
But her departure also highlighted a problem. The brand was leaning so hard on nostalgia because they didn't have a plan for the future. They had the "New Generation"—models like Duckie Thot and Winnie Harlow, who made her debut that year—but the creative direction still felt stuck in 2012. It was all heavy wings, sky-high heels, and a very specific, narrow definition of beauty that was starting to get roasted on social media.
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The PR Nightmare Happening Behind the Scenes
While the glitter was being swept up at Pier 94, the executive offices were on fire. You can't talk about the 2018 show without talking about Ed Razek. He was the Chief Marketing Officer of L Brands, and right around the time of the taping, he gave that infamous interview to Vogue.
He basically said he didn't think the show should include "transsexuals" (his word) because the show is a "fantasy."
The backlash was instant. It was brutal.
It made the 2018 show look less like a fashion event and more like a symbol of exclusion. Suddenly, wearing those wings didn't look like a career peak; it looked like an endorsement of an outdated mindset. Rihanna’s Savage X Fenty had just launched, and it was eating Victoria’s Secret’s lunch by doing exactly what Razek said he wouldn't do. The contrast was embarrassing.
The ratings reflected it, too. The broadcast on ABC pulled in about 3.3 million viewers. To put that in perspective, the show used to pull in 10 or 12 million in its prime. It was a freefall. People weren't just bored; they were moving on.
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The Musical Lineup and the "Hustle"
Despite the drama, the production value was still insane. We had:
- Shawn Mendes singing "In My Blood" while the "Flight" segment took off.
- Halsey performing "Without Me" (she later called out the brand on Instagram for the lack of inclusivity).
- Rita Ora, The Struts, and Leela James.
The "Floral Fantasy" segment featured Mary Katrantzou designs, which were actually a nice break from the standard neon lace. They were colorful, structural, and felt like actual fashion. But even with a heavy-hitter like Katrantzou, the show couldn't shake the feeling that it was trying too hard to prove it was still relevant.
What We Get Wrong About the 2018 Show
Most people think the show was cancelled because of low ratings alone. That's only half the story. The Victoria's Secret Fashion Show 2018 was the victim of a perfect storm: declining sales at the actual stores, a massive shift in how Gen Z viewed "sexy," and the Jeffrey Epstein scandal that was starting to cast a long, dark shadow over Leslie Wexner and L Brands.
It wasn't just a bad TV show. It was a business model that had failed to evolve.
You saw it in the segments. The "PINK" segment, usually the fun, collegiate part of the night, felt disconnected from what actual college students were wearing. The wings were getting bigger and heavier—some weighed over 30 pounds—as if the sheer scale of the props could distract from the fact that the brand's identity was crumbling.
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The Legacy of the 2018 Runway
Is it worth rewatching? Maybe for the fashion history of it all. It serves as a stark "before and after" marker.
After 2018, the show went on a long hiatus. When it finally attempted a comeback in a different format, it was unrecognizable. The 2018 show was the last time we saw the traditional "Angel" format in all its flawed, over-the-top glory. It was the end of the runway era.
If you're looking to understand why the brand had to go through a total "rebrand" or why they eventually ditched the Angels for the "VS Collective," you have to look at 2018. It was the peak of the brand's refusal to change, meeting a world that had already changed without them.
Real Actions for Fashion History Buffs
If you want to actually understand the impact of this specific year, don't just watch the YouTube clips of the walks.
- Audit the Timeline: Compare the November 2018 show date with the Vogue interview release. It explains the "pained" look on some of the models' faces.
- Look at the Savage X Fenty Vol. 1 Show: Watch it side-by-side with the 2018 VS show. You'll see two different industries—one clinging to the 90s and one building the 2020s.
- Check the Stock Price: If you’re into the business side, look at L Brands' stock (LB at the time) from late 2018 into 2019. It’s a masterclass in how PR disasters and stagnant marketing can tank a retail giant.
The 2018 show wasn't just a parade of bras and panties. It was the last gasp of a cultural titan that forgot to listen to its audience. It’s a lesson in brand ego. Sometimes, no matter how many crystals you glue onto a bra, you can’t hide the fact that the world has moved on.
To truly grasp the shift, look into the "Fallen Angel" documentary series which details the internal collapse during this exact period. It fills in the gaps that the bright stage lights tried to hide.