Victoria's Secert History

Victoria’s Secert is North America’s #1 retailer of women’s lingerie. Victoria’s Secert can be found in 1,100 malls across the country and now found in the United Kingdom. Vicotria’s Secert sells more then just lingerie it also carries swimwear, frangrances. In their Pink depertment which is targeted to young adults who do not nesscerially need a racy bra and the mactching underwear. Pink sells Apperal, activewear, and beauty produtcs. Victoria’s Secert was founded by Roy Raymond a Stanford business graduate who lived in Califorina. Raymond who wanted to buy is wife some lingerie but was embarrassed to shop for it at a random department store. Raymond came up with an idea of a place for men to go and buy lingerie without looking like a bit
With $80,000 to his name Raymond opened up a store in Palo Alto in 1977 and named it Victoria’s Secret after Queen Vicotoria. The first Victoria’s Secert was inspired after an English boudoir. Raymond wanted his store to be inspired after seduction. The Palo Alto store was designed with Dark wood, red velvet sofas, and silk drapes thoughtout the entire store. But, Raymond who wanted to make a place for a man to feel comfortable buy lingere did not market to men. Raymond’s goal was to try and make a place in 1977 that was in the offered a variety of options from racy underwear, everyday underwear and select pieces that are only sutiable for a wedding night. Raymond’s goal was met and surpassed with bringing in over $50,00 his first year. Raymond launched the first ever Victoria’s Secert catalogue during ( find date). The catalogue was a huge success and it allowed the name Vicotria Secert to be known by costmers akk over America. In 1982, Raymond opended 3 more stores in the bay area and the company was brigning in $4 million in annual sales. Even though he was brinigng over $4 million in annual sales Raymond was mearly
Raymond was failing due to one simple fact that most women purchase their own underwear instead of men. In 1982 raymond decied to sell the company to Sportswear Mogul Leslie Wexner for $1 million. Wexner’s first actions were to correct all of Raymond’s mistakes but decied to keep the English themed decorum. Raymond deiced to tone down the catalogue so a women would feel okay with reading. Rymond even remolded the stores he got rid of the dark wood and plush couches by adding floral prints, new designed perfume bottles, and hung up pieces of the lingerie in soft lighting. Thanks to Wexner by 1995 the brand was a $1.9bn company, with over 670 stores across the United states. The brand’s new found fame was thanks to the Victoria’s Secert fashion show. In 2014 forbes claimed the brand to control roughly 35% of America’s linferie market with sales reaching over $6.6bn. ‘ Raymond was slowly being exclude from his own successs. Raymond stayed as president for VS alittle over a year decied to see how much luck he had in the retail world. But intead of contuining with what has worked for him he ventured off into Children’s clothing. He called his new brand “ My Child’s Destiney” after two year was declared bankrupt with leaving Raymond Personally responable for all