Who Founded Victoria’s Secret? The Tragic and Glorious Story of an Empire

America’s largest lingerie company, Victoria’s Secret, was founded by Roy Raymond on June 12, 1977. Today, the brand sells not only lingerie but also swimwear, bikinis, body lotions, and perfumes, and it has more than 1,000 branches worldwide.

A Giant Brand Born from Embarrassment

In the late 1970s, businessman Roy Raymond decided to found this company because he was embarrassed to buy lingerie for his wife from public stores and found the atmosphere of existing stores “ugly.” With loans from relatives and a bank loan, the first store, which cost $80,000 to open, earned its owner $500,000 in profit in its first year.

Why “Victoria”? Why “Secret”? Raymond chose this name because he wanted the shop to reflect the elegance and privacy of the Victorian era. The term “Secret” represented the elegance hidden under stylish clothes and the private world of women.

Leslie Wexner and the Turning Point

In 1982, Raymond sold his company to American billionaire Leslie Wexner for approximately $4 million. This sale became one of the biggest turning points in the business world. While Raymond’s concept was built on “men buying lingerie for women,” Wexner reversed this by adopting the strategy of “women shopping for themselves.” This genius touch transformed the brand from a small boutique into a global empire.

A Tragic End: Roy Raymond

After selling the brand, Raymond opened a children’s clothing store, but unfortunately, he could not find the momentum Victoria’s Secret achieved in his new business. As his business failed and he was dragged into debt, Raymond fell into a deep depression in 1993 and ended his life by jumping from the Golden Gate Bridge.

A Revolution in the Fashion World: Angels

The real event that made the brand a world giant was the magnificent fashion shows that started in 1995 and the “Angels” concept that emerged in 1997. Names like Tyra Banks, Heidi Klum, Gisele Bündchen, and Adriana Lima turned the brand into not just a clothing label, but a lifestyle.

Ownership Structure and the Italy Adventure

Victoria’s Secret operated under the umbrella of L Brands, owned by Leslie Wexner, for many years. However, in 2021, the company underwent a major restructuring, spun off from L Brands, and became an independent, public company under the name Victoria’s Secret & Co.

The Italy adventure holds an important place in the brand’s growth strategy in Europe. Thanks to a partnership with the Italian retail giant Percassi, the brand opened flagship stores in fashion capitals like Milan, strengthening its presence in the European market. This move allowed the brand to combine its “sexy” image with Europe’s high-fashion sensibility.

Victoria’s Secret Today

In the post-2020 period, the brand entered a major transformation process. Saying goodbye to the “Angels” concept, Victoria’s Secret now focuses on an inclusive brand image that appeals to every body type and every woman. Today, it continues to lead the lingerie industry with billions of dollars in sales.