History of Victoria's Secret in Timeline

Victoria's Secret is an American retailer specializing in lingerie, clothing, and beauty products. Established in 1977 by Roy and Gaye Raymond, it was acquired by Les Wexner in 1982. Under Wexner's leadership, Victoria's Secret experienced rapid expansion, establishing a significant presence in American shopping malls and becoming the largest lingerie retailer in the United States by the early 1990s, reaching $1 billion in sales.

June 12, 1977: Victoria's Secret Official Founding

On June 12, 1977, Victoria's Secret was officially founded by Roy Raymond and his wife, Gaye Raymond. The first store opened in the Stanford Shopping Center in Palo Alto, California.

1977: Victoria's Secret Founded to Cater to Men

In 1977, Roy Raymond founded Victoria's Secret with the intention of creating a lingerie store where men would feel comfortable shopping.

1977: Victoria's Secret Founded

In 1977, Victoria's Secret was founded by Roy and Gaye Raymond, Stanford graduate, as a lingerie, clothing and beauty retailer.

April 1982: Victoria's Secret Catalog Sales

In April 1982, Raymond sent out his 12th catalog; catalog sales accounted for 55% of the company's $7 million annual sales that year.

1982: Les Wexner Acquires Victoria's Secret

In 1982, Les Wexner acquired Victoria's Secret, which had grown to five stores and a 40-page catalog, for $1 million.

1982: Victoria's Secret Sold to Les Wexner

In 1982, Les Wexner purchased Victoria's Secret's five lingerie stores from Roy and Gaye Raymond.

1982: Expansion of Victoria's Secret Stores

In 1982, a fourth Victoria's Secret store was added at 395 Sutter Street in San Francisco.

1982: Catalog Influence

In 1982, it was reported that Victoria's Secret catalog influenced other catalogs by presenting lingerie as romantic, sensual, and tasteful.

1983: Shift in Sales Model

In 1983, Wexner revamped Victoria's Secret's sales model towards a greater focus on female customers, redesigning stores and catalogs.

1985: Howard Gross Becomes President

Howard Gross became president of Victoria's Secret in 1985.

1986: Expansion to 100 Stores

In 1986, Victoria's Secret rapidly expanded to 100 stores.

1986: Victoria's Secret Gains Market Share

In 1986, Victoria's Secret was reported as stealing market share from department stores and becoming the only national chain devoted to lingerie.

1987: Victoria's Secret as a 'visible leader'

In 1987, Victoria's Secret was described as a highly visible leader using sexy high-fashion photography to sell middle-priced underwear.

1987: Victoria's Secret Catalog Success

In 1987, Victoria's Secret was reported to be among the bestselling catalogs.

1989: National Advertising Campaign Executed

In 1989, FCB/Leber Katz Partners and Victoria's Secret executed a national advertising campaign with a ten-page glossy insert in several magazines, announcing their expansion into the toiletries and fragrance business.

1990: Quadrupled Sales

In 1990, analysts estimated that Victoria's Secret sales had quadrupled in four years, making it one of the fastest-growing mail-order businesses.

1990: Relocation of San Francisco Store

In 1990, the fourth Victoria's Secret store, originally opened in 1982, was moved to the larger Powell Street frontage of the Westin St. Francis in San Francisco.

1991: Catalog Marketing Shift Abandoned

By 1991, Victoria's Secret abandoned its catalog marketing shift towards female models accompanied by men, which had been in practice for several years in the 1980s.

1991: Grace Nichols Succeeded Howard Gross

In 1991, Grace Nichols took over from Howard Gross as the head of Victoria's Secret Stores.

1991: Howard Gross Assignment

In 1991, Howard Gross was assigned to fix the L Brands subsidiary Limited Stores.

1991: Fragrance Line Introduction

In 1991, Victoria's Secret expanded beyond apparel with the introduction of their own line of fragrances.

1993: Divisions Suffered

In 1993, Business Week reported that both divisions suffered.

1993: Introduction of 'Miracle Bra'

In 1993, Victoria's Secret introduced the 'Miracle Bra', selling two million within the first year.

1994: TV Campaign

In 1994, Victoria's Secret responded with a TV campaign when faced with competition from Sara Lee's WonderBra .

1995: Victoria's Secret Fashion Show Start

From 1995, L Brands began to use the Victoria's Secret Fashion Show as a significant marketing tool.

1997: Angels Underwear Collection

In 1997, the Victoria's Secret Angels underwear collection was marketed by a TV commercial that included supermodels and Welsh singer Tom Jones, becoming brand ambassadors. The term 'Angel' soon became synonymous with the brand.

1998: Market Share and Entry into Cosmetic Market

By 1998, Victoria's Secret's market share of the intimate apparel market was 14 percent and the company also entered the $3.5 billion cosmetic market.

1998: Robin Burns Hired as CEO of Victoria's Secret Beauty

In 1998, Robin Burns was hired by L Brands to be the CEO of Victoria's Secret Beauty.

1998: Entry into Cosmetics Market

In 1998, Victoria's Secret entered the billion-dollar cosmetics market, further diversifying its product offerings.

1998: Angels Runway Debut

In 1998, the Victoria's Secret Angels made their runway debut at the 4th annual fashion show.

February 2, 1999: First Online Streaming of Fashion Show

On February 2, 1999, Victoria's Secret's streamed their fashion show online for the first time, the webcast was considered a failure due to network congestion and users who could see the webcast receiving jerky frames.

1999: Addition of Body by Victoria Line

In 1999, Victoria's Secret added the Body by Victoria line.

1999: Victoria's Secret Created Customer Database

In 1999, Victoria's Secret created a database by requiring users to submit their contact details to view the webcast, which was reported a failure.

1999: Super Bowl Advertisement

In 1999, Victoria's Secret ran a 30-second advertisement during the Super Bowl, resulting in one million visits to the company's website within an hour of airing.

May 2000: Cynthia Fedus-Fields Steps Down as CEO

In May 2000, Cynthia Fedus-Fields stepped down as CEO of Victoria's Secret after delivering record profits in 1999 and early 2000.

May 2000: Sharen Jester Turney Succeeded Cynthia Fedus-Fields

In May 2000, Sharen Jester Turney replaced Cynthia Fedus-Fields as chief executive of Victoria's Secret Direct.

May 2000: Sharen Jester Turney Appointed

In May 2000, Wexner installed Sharen Jester Turney as the new chief executive of Victoria's Secret Direct to turn around catalog sales.

2000: Cynthia Fedus-Fields Leaves

In 2000, Cynthia Fedus-Fields oversaw the company's direct business, including its catalog, from the mid-1980s until 2000.

2000: Priyanka Chopra Became Miss World

In 2000, Priyanka Chopra became Miss World.

2000: 2000 Fashion Show Produced with Harvey Weinstein

The 2000 Victoria's Secret fashion show in France was produced with the assistance of Harvey Weinstein.

2002: Launch of PINK Brand

In 2002, Victoria's Secret launched PINK, a brand aimed at teenagers and young women.

March 4, 2003: U.S. Supreme Court Ruled Against Victoria's Secret

On March 4, 2003, the U.S. Supreme Court ruled against Victoria's Secret in Moseley v. V Secret Catalogue, Inc., citing insufficient proof of actual harm to the trademark.

August 2004: Jill Granoff and Sherry Baker Succeeded Robin Burns

In August 2004, Jill Granoff, COO, and Sherry Baker, president, succeeded Robin Burns at Victoria's Secret Beauty.

2004: Angels Across America Tour

In 2004, Victoria's Secret launched the Angels Across America tour featuring contract models, after not holding a fashion show.

2004: Bob Dylan Advertisement

In 2004, Victoria's Secret presented an unusual advertisement featuring Bob Dylan, which was memorable but perceived as unsettling by many viewers.

May 2006: Christine Beauchamp Named President and CEO

In May 2006, Christine Beauchamp was named president and CEO of Victoria's Secret Beauty.

May 2006: Turney Promoted to Lead the Company

In May 2006, Wexner promoted Turney to lead the whole company, from the Victoria's Secret catalog and online units.

September 2006: Victoria's Secret Hires Magazine Writers

In September 2006, Victoria's Secret reportedly tried to make their catalog feel more like magazines by head-hunting writers from Women's Wear Daily.

2006: Agreement to Make Catalog More Environmentally Friendly

In 2006, Victoria's Secret and a conservation group reached an agreement to make the catalog more environmentally friendly, requiring a percentage of recycled paper and avoiding specific source forests.

2006: Financial Times Report on Factory Worker Pay

In 2006, the Financial Times reported that Victoria's Secret paid factory workers $7 per day to make bras in Thailand.

November 13, 2007: Angels Awarded Star on Hollywood Walk of Fame

On November 13, 2007, the Victoria's Secret Angels were the first trademark to be awarded a star on the Hollywood Walk of Fame.

2007: Lori Greely Took Over Victoria's Secret Stores

In 2007, Lori Greely became the head of Victoria's Secret Stores, succeeding Grace Nichols.

2008: Turney Acknowledges Product Quality Issues

In 2008, Sharen Turney acknowledged "product quality that doesn't equal the brand's hype."

2008: International Expansion Begins

In 2008, Victoria's Secret began its international expansion, opening retail outlets in international airports, franchises in major cities overseas, and company-owned stores throughout Canada and the UK.

2008: Angels at Fontainebleau Reopening

In 2008, the Victoria's Secret Angels took part in the grand reopening of the Fontainebleau in Miami.

2009: Shashi Batra Appointed President

In 2009, Shashi Batra was appointed president of Victoria's Secret Beauty.

2009: Nationwide Competition for Runway Angel

In 2009, Victoria's Secret held a nationwide competition for a new Runway Angel, with Kylie Bisutti emerging as the winner.

2010: Bombshell Tour

In 2010, Victoria's Secret organized the Bombshell tour featuring the Angels.

2010: Michael Bay Commercials

In 2010, Victoria's Secret released TV commercials directed by Michael Bay, which received mixed to negative reception from critics.

2011: Fashion Show Budget Increase

By 2011, the budget for the Victoria's Secret Fashion Show had increased to $12 million.

2011: Huffington Post Report on Working Conditions

In 2011, The Huffington Post reported that working conditions in factories producing Victoria's Secret items in Jordan were comparable to slave labor.

November 2012: Susie Coulter Became President

In November 2012, Susie Coulter became president of Victoria's Secret Beauty.

2012: Barbara Palvin Fashion Show Debut

In 2012, Barbara Palvin made her fashion show debut with Victoria's Secret.

2012: Organic and Fair Trade Cotton

In 2012, Victoria's Secret bought organic and fair trade-grown cotton to make some of its panties.

2012: VSX Tour

In 2012, Victoria's Secret organized the VSX tour featuring the Angels.

2012: Michael Bay Commercials

In 2012, Victoria's Secret released TV commercials directed by Michael Bay, which received mixed to negative reception from critics.

2012: Manufacturing in Guduvancheri

In 2012, Victoria's Secret was manufacturing bras in the South Indian city of Guduvancheri.

2013: Lori Greely Left Victoria's Secret Stores

In 2013, Lori Greely left her position as head of Victoria's Secret Stores.

2013: Victoria's Secret Market Share

In 2013, Victoria's Secret had about a third of the market share in its category.

2013: Swim Tour

In 2013, Victoria's Secret organized the Swim tour featuring the Angels.

2014: Departures After Fashion Show

After the 2014 fashion show, Lindsay Ellingson, Doutzen Kroes, and Karlie Kloss departed as Angels.

2014: The Perfect Body Campaign Controversy

In 2014, Victoria's Secret created a campaign to market its Body bra line called The Perfect Body, which elicited substantial controversy for promoting a limited and unhealthy body type.

2015: Leomie Anderson Started Walking in Fashion Show

In 2015, Leomie Anderson began walking in the Victoria's Secret Fashion Show.

2015: First Swim Special Featuring Angels

In 2015, Victoria's Secret's Angels featured on the brand's first Swim Special were Elsa Hosk, Martha Hunt, Jac Jagaciak, Stella Maxwell, Lais Ribeiro, and Jasmine Tookes, along with model Joan Smalls.

February 2016: Turney Stepped Down as CEO

In February 2016, Turney stepped down as CEO of Victoria's Secret after being in the business for a decade.

2016: Only one quarter increase in same-store sales

In 2016 and 2018, only one quarter showed an increase in same-store sales.

2016: Grace Elizabeth's First Show

In 2016, Grace Elizabeth walked her first Victoria's Secret show.

2016: Greg Unis Hired as CEO

In 2016, Greg Unis was hired to serve as CEO of Victoria's Secret Beauty division.

2016: Jan Singer Replaced Sharen Jester Turney

In 2016, Jan Singer succeeded Sharen Jester Turney as CEO of Victoria's Secret Direct.

2016: Market Share Decline and Catalog Cancellation

In 2016, Victoria's Secret's market share began to decline due to competition and changing consumer preferences. The company also canceled the circulation of their catalog in 2016.

2017: Alexina Graham Walked in Fashion Show

In 2017, Alexina Graham walked in the Victoria's Secret Fashion Show.

2017: Sales Revenue Stagnation

In early 2017, Victoria's Secret sales revenue continued to stagnate and drop.

2018: Last Victoria's Secret Fashion Show

2018 was the final year that Victoria's Secret held its fashion show.

2018: Barbara Palvin's Fashion Show Return

In 2018, Barbara Palvin returned to the Victoria's Secret Fashion Show after her debut in 2012.

2018: Jan Singer Left Victoria's Secret Direct

In 2018, Jan Singer departed from her role as CEO of Victoria's Secret Direct.

2018: End of Fashion Show and Angels Connection

In 2018, the Victoria's Secret Fashion Show and the Angels were closely connected through 2018, the final year that event was held.

2018: Jan Singer Resigns as CEO

In late 2018, CEO Jan Singer resigned amid declining sales.

August 2019: Ed Razek Resigns

In August 2019, chief marketing officer Ed Razek resigned following a disastrous Vogue interview.

November 2019: Victoria's Secret Fashion Show Canceled

In November 2019, Victoria's Secret announced it would no longer hold the annual fashion show, signaling a major change in marketing strategy.

November 2019: Victoria's Secret Canceled Runway Show

In November 2019, Victoria's Secret canceled its annual runway show.

2019: Allegations Against Ed Razek

After Ed Razek left Victoria's Secret in 2019, Monica Mitro reported she had been repeatedly verbally abused by Razek during his time there.

2019: John Mehas Appointed CEO

In 2019, John Mehas was appointed as CEO of Victoria's Secret Direct.

2019: New Angels Added

In 2019, Leomie Anderson, Grace Elizabeth, Alexina Graham, and Barbara Palvin were added to the Victoria's Secret Angels roster.

2019: Store Closures and Swimwear Relaunch

In 2019, Victoria's Secret announced the closure of 53 stores in the U.S. and the relaunch of its swimwear line.

2019: Model Alliance Advocacy

In 2019, the Model Alliance and other publications reported on initiatives underway in California, New York and the United States aiming to protect models from harassment and sexual abuse.

January 2020: Wexner in Talks to Step Down

In January 2020, L Brands chairman and CEO Lex Wexner was in talks to step down.

February 1, 2020: NYT Exposé on Misogyny

On February 1, 2020, The New York Times published an exposé on "the culture of misogyny" at Victoria's Secret, detailing allegations of sexual misconduct by Ed Razek.

February 2020: Sale to Sycamore Partners Announced

In February 2020, Victoria's Secret announced a sale to private equity firm Sycamore Partners for $525 million, with L Brands retaining a 45% minority stake.

February 2020: Reports of Bullying and Harassment

In February 2020, reports of widespread bullying and harassment at Victoria's Secret surfaced.

April 22, 2020: Sycamore Partners Seeks to Terminate Deal

On April 22, 2020, The Wall Street Journal reported that Sycamore Partners wanted out of the deal to purchase Victoria's Secret.

May 2020: Victoria's Secret still largest lingerie retailer

As of May 2020, Victoria's Secret, with over 1,070 stores, remained the largest lingerie retailer in the United States.

June 2020: Shareholder Lawsuit Filed

In June 2020, a shareholder filed a lawsuit against Victoria's Secret for inaction following reports of harassment, discrimination, and retaliation.

November 2020: John Mehas Stepped Down

In November 2020, John Mehas stepped down from his position as chief executive.

November 2020: Martin Waters Replaced John Mehas

In November 2020, Martin Waters took over from John Mehas as CEO of Victoria's Secret Direct.

December 2020: Raul Martinez Appointed Head Creative Director

In December 2020, Victoria's Secret announced the appointment of Raul Martinez as head creative director, following the departure of John Mehas.

2020: Number of Official Angels

As of 2020, the Victoria's Secret brand has had at least three dozen official Angels.

2020: Settlement with Monica Mitro

In 2020, it was reported that Monica Mitro settled with Victoria's Secret for an undisclosed sum after alleging verbal abuse and retaliatory dismissal.

July 2021: Plans to Relaunch Show Without Angels

In July 2021, Victoria's Secret announced plans to relaunch its fashion show, but without the traditional Victoria's Secret Angels.

2021: Angels Discontinued, VS Collective Introduced

In 2021, Victoria's Secret discontinued the Angels in favor of the "VS Collective," featuring a more diverse array of models and influencers as spokespeople.

2021: Victoria's Secret Pays Garment Workers

In 2021, Victoria's Secret provided funds to over 1,250 Thai garment workers who were owed $8.3 million due to their factory's closure and bankruptcy.