For 23 years, the Victoria's Secret Fashion Show was a staple of the industry. Every year, an hour of prime-time TV would be devoted to the 'Angels' swaying up and down a catwalk in the latest lingerie. But no more. Last week, the company announced the show was done. Why? They were vague, but it wasn't hard to read between the lines. For the past decade, and especially in the past few years, the fashion industry has been torn between traditional beauty standards of thin, mostly-white models and the demands from inclusion coming from all corners. The end of a fashion show that had been roundly criticized for not changing with the times, might feel like a victory to those who wish the industry would change faster...but is it just a drop in a bucket for a business built on exclusivity—and rarely the good kind? GUEST: Katherine Singh, FLARE.com