Victoria's Secret is American lingerie, clothing, as well as charm retailer understood for high presence advertising as well as branding, beginning with a preferred directory and also followed by a yearly style program with cover girls called Angels. As the largest merchant of lingerie in the USA, the brand has struggled since 2016 as a result of shifting customer choices and recurring debate bordering business management's company methods.
Established in 1977 by Roy and Gaye Raymond, the company's five lingerie shops were marketed to Leslie Wexner in 1982. Wexner rapidly increased into American mall, expanding the company right into 350 stores countrywide with sales of $1 billion by the early 1990s when Victoria's Secret came to be the largest lingerie retailer in the United States.
From 1995 through 2018, the Victoria's Secret Fashion Show was a vital part of the brand's photo featuring an annual runway phenomenon of models promoted by the firm as dream Angels. The 1990s saw the business's more growth throughout shopping malls along with the introduction of the wonderbra, the brand-new brand name Body by Victoria, as well as the growth of a line of fragrances and cosmetics. In 2002 Victoria's Secret announced the launch of PINK, a brand that was intended to interest young adults. Starting in 2008, Victoria's Secret expanded globally, with retail outlets within international airports, franchises in major cities overseas, and also in company-owned shops throughout Canada and the UK.
By 2016, Victoria's Secret market share began to decrease, progressively giving way to a growing consumer choice for athleisure. The business canceled the blood circulation of their well-known brochure in 2016. The brand name battled to maintain its market position following recurring criticism and also conflict over the shady habits as well as company methods of company management under Wexner as well as Ed Razek. Since Might 2020, with over 1,070 shops, Victoria's Secret stayed the biggest underwear store in the USA. Moms and dad firm L Brands introduced the prepared closure of 250 Victoria's Secret and also Pink shops in 2020, a nearly 25 percent decrease of all retail locations, complying with the COVID-19 pandemic. L Brands investors filed a problem with a Delaware court in January 2021, stating that previous chair Les Wexner, to name a few, created an "established culture of misogyny, bullying and also harassment", which breaching his fiduciary task to the business, and also creating the brand name to be decreased the value of.