The brand, known for hiring beautiful models, has tried to diversify its models over the past few years, including plus-size and transgender representatives. However, the rebrand attempt has not translated to increased sales , with the outlet’s projected revenue for this year at $6.2 billion, down by almost 20% compared to 2020’s $7.5 billion.

“Despite everyone’s best endeavors, it’s not been enough to carry the day,” Victoria’s Secret CEO Martin Waters said.

Part of the attempted rebrand included hiring Megan Rapinoe , an athlete and activist who has advocated transgender women competing in women’s sports, and Valentina Sampaio, who became the outlet’s first transgender model. In the wake of Sampaio’s hiring, Ed Razek, former chief marketing officer of Victoria’s Secret, resigned from the outlet.

[This is what happens when you hire DEI obsessives as marketing leaders. Successful advertising is aspirational, not didactic. When you advertise lingerie, you are selling an idea of aspirationally looking like the models in the ads. Women generally don’t aspire to look like trannies or obese women, and the men who buy the products for wives and girlfriends don’t aspire to sleep with either. It’s like selling light beer to its core working-class consumer base by partnering with a trans guy doing womanface. Who would be dumb enough to do that? OH, WAIT … — Ed]