Mid-day Extra: Victoria's (not so) Secret branding
Adam Levine of Maroon 5 performs with Model Anne Vyalitsina during the 2011 Victoria's Secret Fashion Show at the Lexington Avenue Armory on November 9, 2011 in New York City.
There was some good news in the fashion retail world today, as both Prada and Tiffany & Co. boasted strong third quarter sales.
And tonight the focus will be on another big event for the industry: the Victoria's Secret Fashion Show on CBS. It's costing Victoria's Secret $12 million to produce-- and that's not including the $2.5 million Fantasy Treasure Bra with 142 carats of diamonds.
That investment can be well worth it, especially as the show airs just in time to push product during the holiday shopping season. Last year, the company's net sales topped $5 billion.
In today's Mid-day Extra, we ask: is putting on a big show like that worth it for businesses? For more, we spoke with Elizabeth Holmes, a reporter with the Wall Street Journal.
According to her, the show is marketing bonanza for the mall chain.