CHAP. 1 VICTORIA'S SECRET HISTORY AND MISSION STATEMENT

                                                    

           

Victoria's secret history 

  Victoria's Secret is the leading specialty retailer of lingerie around the world. It is also the largest subsidiary of Limited Brands. The company's stores operate about 1100 locations in the US, Canada and UK. The first store was established in San Francisco during the early 1970's by Roy Raymond. 

               Eight years prior to founding Victoria's Secret, Roy Raymond went to a department store to buy his wife lingerie, only to find ugly floral-print nightgowns and saleswomen who made him feel uncomfortable. Realizing that other male friends felt the same way, the man saw an opportunity to create a lingerie store designed to make men feel comfortable shopping. He chose the name "Victoria" to evoke the propriety and respectability associated with the Victorian era.Raymond studied the lingerie market for eight years before establishing Victoria's Secret.

              By 1982, Roy's Victoria's secret consisting of three stores and a catalog business had annual sales of $4m. Selling lingerie to male customers was increasingly unprofitable and Victoria's Secret headed for bankruptcy. Raymond decided to sell Victoria's Secret and the catalog to the British Leslie Wexner, creator of Limited Brands, for $1 million.

             Victoria's Secret, under Limited Brands, became a multi-billion business. Nowadays, the company has a history of being sexy, youthful and romantic. Men and women have come to recognize Victoria's Secret as the place to buy a lingerie or perfume gift. 

  Victoria's secret mission statement 

The mission statement for Victoria's secret retail chain is committed to building a family of the world's best fashion brands offering captivating customer experiences that drive long-term loyalty and deliver sustained growth for our shareholders.