Sharen Jester Turney

Topics: Victoria's Secret, Limited Brands, Neiman Marcus Pages: 6 (1958 words) Published: May 1, 2013
1) Sharen Jester Turney is currently the Chief Executive Officer of Victoria’s Secret. She is a girl who was raised on a farm in a small town in Oklahoma, and is now named the third highest earning woman by Forbes Magazine. After coming out of high school as an honor student, Sharen attended the University of Oklahoma. After Turney graduated, she was offered a job in Neiman Marcus where she spent a few years in their merchandising department. Sharen then moved on from Neiman Marcus to Victoria’s Secret. She started off as the President of Victoria’s Secret Direct, which is the brands catalogue and e-commerce arm. In 2006, Sharen Turney became the official President and CEO of the Victoria’s Secret brand. The brand consists of all of the Victoria’s Secret stores, Victoria’s Secret Direct, Victoria’s Secret Pink, and their beauty line. Turney redefined the catalogs image from, as she stated in Forbes, “A substitute for Playboy”, to one that was more similar to a Vogue layout, where lingerie, sleepwear, clothes, and cosmetics appear through the catalog rather than the woman.

I selected Sharen Jester Turney as a leader because I have always loved shopping at Victoria’s Secret. After reading and doing research about Sharen, it is clear that she is a leader. She came from a small farm town, and worked her way to become the CEO of a huge brand. She stayed true to her beliefs and put what she felt could improve Victoria’s Secret into the company. She is not only a leader, but an inspiration in my eyes. She proves that with some work and thought, any woman can become an important part of a company. 2) a.Victoria’s Secret is the largest American retailer of lingerie. There are currently over 1,000 stores across the U.S. This brand was established by Roy Raymond in the early 1970’s. The beginning concept of the brand was to be similar to a Victorian boudouir. Roy started off with three stores and a catalog business. Victoria’s Secret was acquired by Limited Brands in 1982.

Roy Raymond made Victoria’s Secret because he wanted a store where men could feel comfortable buying lingerie. He sated that he used to be embarrassed while purchasing lingerie for his wife. “I always had a feeling the department-store saleswoman thought I was an unwelcome intruder,” Roy quoted in Newsweek in 1982.

As Victoria’s Secret began to become a lucrative company, there was enough finance to expand the company with four new stores in 1982. Roy sold Victoria’s Secret Inc. to The Limited when the brand headed into bankruptcy. In 1983, Leslie Wexner changed the model of selling to male customers for woman and replaced it with focusing on selling to woman. The stores were also redesigned to feel like 19th-century England. In 1986, Victoria’s Secret was the only national chain of lingerie stores. The catalog was the best selling catalog in 1987 and the New York Times described the catalog as a, “highly visible leader in the lingerie business by using unabashedly sexy high-fashion photography to sell middle-priced underwear.”

Shortly later, Victoria’s Secret launched their own line of fragrances in 1990. The stores suffered a bit through the early 1990s due to poor quality problems but was resolved by Grace Nicholos in 1993. By the early 2000s, slow sales growth in the catalog division led to a management change. This is when Sharen Jester Turney arrived. She revised the catalog to make it more appealing and focus more on what they were selling rather than on the woman in the photos. After growth in sales, Turney was then promoted to CEO of Victoria’s Secret. b.Victoria’s Secret is a corporation. The Victoria’s Secret mission statement is the same as its parent company, Limited Brands. The Limited Brands mission statement is: “Limited Brands is committed to building a family of the world’s best fashion brands offering captivating customer experiences that drive long-term loyalty and deliver sustained growth for our shareholders.”

Limited Brands has...
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