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Victoria's Secret Fashion Show has been canceled

Victoria's Secret has regularly held the show for over two decades.
/ Source: TODAY

The 2019 Victoria's Secret Fashion Show has officially been canceled.

Six months after revealing this year's show wouldn't return to network TV, Victoria's Secret has decided to cancel the event altogether.

Parent company L Brands previously stated it was "rethinking" its annual show.TIMOTHY A. CLARY / AFP/Getty Images

"We'll be communicating to customers, but nothing that I would say is similar in magnitude to the fashion show," Stuart Burgdoerfer, CFO of L Brands, the lingerie brand's parent company, reportedly said during an earnings call.

L Brands has been putting on the glitzy fashion show every year since 1995. But in recent years, viewers were tuning in less and less.

Despite featuring top models Kendall Jenner, Bella Hadid, Gigi Hadid and Behati Prinsloo strutting the catwalk, the Victoria's Secret Fashion Show in 2018 sunk to its lowest television ratings ever.

Meanwhile, sales at the Victoria’s Secret brand have sharply declined.

Speculation began mounting about the 2019 fashion show after longtime Victoria's Secret model Shanina Shaik told The Daily Telegraph in July that it had been canceled.

"It's something I'm not used to because every year around this time I'm training like an Angel. But I'm sure in the future something will happen, which I'm pretty sure about," Shaik said.

"I'm sure they're trying to work on branding and new ways to do the show because it's the best show in the world," she added.