Organizational Behavior at Victoria's Secret
Introduction, history and business
Victoria’s Secret is a retail giant in the lingerie business. It is owned by the Limited Brands Company. Victoria’s Secret has generated to the tune of more than $4 billion in sales a year. It happens to be the fastest growing subsidiary of Limited Brands and contributes 42% of corporate profits. More than 1000 Victoria's Secret retail stores are open in the United States. Products are also available through the catalogue and online business, Victoria's Secret Direct, with sales of approximately $870 million.
The company was started by Roy Raymond during the 1970s. It is said that, Raymond saw an opportunity in taking “underwear” of the time and turning it into fashion. Products stood apart from the traditional white cotton pieces, which department stores offered, with colors, patterns and style that gave them more allure and sexiness. They combined European elegance and luxury. Even the name Victoria’s Secret was meant to conjure up images of 19th-century England. The store went so far as to list a fake London address for the company headquarters. Like Starbucks, Victoria’s Secret markets self-indulgence at an affordable price. By 1982, Raymond had opened six stores and launched a modest catalog operation. He then sold Victoria’s Secret to Limited Brands, which took Victoria’s and sprinted away. Today, Victoria’s Secret enjoys nearly a monopoly position on the retail of intimate apparel in the US. 2012 sales were $6.12 billion with an operating income of $1 billion. The company sells lingerie, woman's wear and beauty products through its 1,000 U.S. stores, catalogs (annually mailing out 375 million) and website. Victoria's Secret is wholly owned and the largest holding of publicly traded Limited Brands company. Victoria's Secret is known for its catalogs and annual fashion show: the Victoria's Secret Fashion Show.
The typical bra that once sold for $15 at Victoria’s Secret, when the company first opened and was worried about
Victoria’s Secret is a retail giant in the lingerie business. It is owned by the Limited Brands Company. Victoria’s Secret has generated to the tune of more than $4 billion in sales a year. It happens to be the fastest growing subsidiary of Limited Brands and contributes 42% of corporate profits. More than 1000 Victoria's Secret retail stores are open in the United States. Products are also available through the catalogue and online business, Victoria's Secret Direct, with sales of approximately $870 million.
The company was started by Roy Raymond during the 1970s. It is said that, Raymond saw an opportunity in taking “underwear” of the time and turning it into fashion. Products stood apart from the traditional white cotton pieces, which department stores offered, with colors, patterns and style that gave them more allure and sexiness. They combined European elegance and luxury. Even the name Victoria’s Secret was meant to conjure up images of 19th-century England. The store went so far as to list a fake London address for the company headquarters. Like Starbucks, Victoria’s Secret markets self-indulgence at an affordable price. By 1982, Raymond had opened six stores and launched a modest catalog operation. He then sold Victoria’s Secret to Limited Brands, which took Victoria’s and sprinted away. Today, Victoria’s Secret enjoys nearly a monopoly position on the retail of intimate apparel in the US. 2012 sales were $6.12 billion with an operating income of $1 billion. The company sells lingerie, woman's wear and beauty products through its 1,000 U.S. stores, catalogs (annually mailing out 375 million) and website. Victoria's Secret is wholly owned and the largest holding of publicly traded Limited Brands company. Victoria's Secret is known for its catalogs and annual fashion show: the Victoria's Secret Fashion Show.
The typical bra that once sold for $15 at Victoria’s Secret, when the company first opened and was worried about