1977-1983 : Early Years
The story of Victoria's Secret starts in 1977 in San Francisco, when Ray Raymond and his wife founded the company. 8 years before it, Ray Raymond had tried to find a good lingerie for his wife, but he only found "racks of terry-cloth robes and ugly floral-print nylon nightgowns" (how he told). Then he also felt, that department-store saleswomen were really unwelcome to him. This awkward situation created an idea of changing the usual stereotype about women's underwear - of founding totally new company and bringing totally new welcoming atmosphere for men in stores with women's lingerie.
The story of Victoria's Secret starts in 1977 in San Francisco, when Ray Raymond and his wife founded the company. 8 years before it, Ray Raymond had tried to find a good lingerie for his wife, but he only found "racks of terry-cloth robes and ugly floral-print nylon nightgowns" (how he told). Then he also felt, that department-store saleswomen were really unwelcome to him. This awkward situation created an idea of changing the usual stereotype about women's underwear - of founding totally new company and bringing totally new welcoming atmosphere for men in stores with women's lingerie.
The first year of selling brought success for Victoria's Secret, when it grossed $500,000. During six years the company was expanding. Ray Raymond also added the option of ordering lingerie from catalogs, which costed only $3. Then catalogs brought 55% of all annual $7 million sales.
1983 : Strategy Change
After this successful-sales time, the company got almost to bankruptcy and Ray Raymond had to sell the company, which already had six stores in San Francisco, to Leslie Wexner.
After this successful-sales time, the company got almost to bankruptcy and Ray Raymond had to sell the company, which already had six stores in San Francisco, to Leslie Wexner.
Leslie Wexner changed the focus on female buyers. He added more new colors, prints and styles to show, how fancy, glamorous and European-luxury can the lingerie be. Leslie redesigned all the stores to evoke 19th century England and published fake address of the main office as it was located in London to make the brand more European. All lingerie changed because of new trends of Victoria's Secret!
Then, in seven years, the plan of explosion into malls got success and Victoria's Secret became the only national chain of lingerie stores in United States.
Then, in seven years, the plan of explosion into malls got success and Victoria's Secret became the only national chain of lingerie stores in United States.
She introduced new Miracle Bra getting $2 million from the sales at the first year. Then, Victoria's Secret added a new chain of beauty products as shower gels, bogy lotions and cosmetics and by 1998 Victoria's Secret entered the $3.5 billion cosmetic market.
1995 : Fashion Show Age
Starting from 1995, Victoria's Secret started the Fashion Shows, which are broadcast on primetime American Television. In 1999 Ken Weil, vice president at Victoria's Secret, and Tim Plzak, responsible for IT at Victoria's Secret's parent company Intimate Brands, started to release the Fashion Shows in the Internet. In total, 1.5 million viewers either attempted or viewed the webcast.
Starting from 1995, Victoria's Secret started the Fashion Shows, which are broadcast on primetime American Television. In 1999 Ken Weil, vice president at Victoria's Secret, and Tim Plzak, responsible for IT at Victoria's Secret's parent company Intimate Brands, started to release the Fashion Shows in the Internet. In total, 1.5 million viewers either attempted or viewed the webcast.
2002 : Pink
On October 16, 2002, Victoria's Secret announced the launch of Pink, a new lingerie line targeted to 15-to-22 year olds. Pink was focused on teenage customs and introduced underwear, sleepwear, loungewear, beauty products and accessories.
On October 16, 2002, Victoria's Secret announced the launch of Pink, a new lingerie line targeted to 15-to-22 year olds. Pink was focused on teenage customs and introduced underwear, sleepwear, loungewear, beauty products and accessories.
Also Victoria's secret introduced new chains of swimwear and sportswear for women.