History of Victoria's Secret in Timeline
Victoria's Secret, an American lingerie, clothing, and beauty retailer, was founded in 1977 by Roy and Gaye Raymond. In 1982, Les Wexner acquired the company's five lingerie stores and spearheaded its expansion into American shopping malls. By the early 1990s, Victoria's Secret had grown to 350 stores nationwide, achieving $1 billion in sales and becoming the largest lingerie retailer in the United States.
June 12, 1977: First Victoria's Secret Store Opens
On June 12, 1977, the first Victoria's Secret store opened its doors at the Stanford Shopping Center in Palo Alto, California, introducing a new concept to the lingerie market.
1977: Revolutionizing the Lingerie Market
In 1977, amidst a lingerie market dominated by practicality, Victoria's Secret emerged with a mission to create a comfortable shopping experience for men buying lingerie, offering more alluring options like lacy thongs and push-up bras.
1977: Early Store Expansion
Physical store locations played a crucial role in establishing the Victoria's Secret brand. From 1977 and into the early 2000s, these stores remained primarily concentrated in the United States.
1977: Founding of Victoria's Secret
Roy and Gaye Raymond founded Victoria's Secret in 1977, driven by Roy's discomfort in purchasing lingerie for his wife in traditional department stores.
1979: Catalog Success
Before the rise of e-commerce, Victoria's Secret's catalogs were instrumental in marketing their lingerie to customers in a discreet and accessible way. The 1979 catalog, in particular, was recognized for its sensuality and upscale presentation.
April 1982: Growth Through Catalog Sales
In April 1982, Victoria's Secret mailed out its 12th catalog, which played a crucial role in the company's growth. Catalog sales accounted for 55% of their $7 million annual revenue that year.
1982: Victoria's Secret, Inc. Changes Name to Victoria's Secret Stores, Inc.
Following the sale of Victoria's Secret to Leslie Wexner in 1982, the company underwent a name change from Victoria's Secret, Inc. to Victoria's Secret Stores, Inc.
1982: Acquisition by Les Wexner
In 1982, Les Wexner, the mastermind behind Limited Stores Inc., acquired Victoria's Secret from its founders for $1 million, marking a turning point in the company's history.
1982: Victoria's Secret Sold for $1 Million
In 1982, Victoria's Secret, comprising five stores and a 40-page catalog, was generating $6 million in annual revenue. It was during this year that the company was sold to Les Wexner for $1 million.
1982: The Influence of the Victoria's Secret Catalog
The New York Times highlighted the significant impact of the Victoria's Secret catalog in 1982. It noted that the catalog's success in presenting lingerie as both romantic and tasteful influenced other catalogs to follow suit.
1982: Expansion and the Fourth Store
Victoria's Secret's success in 1982 allowed for the opening of their fourth store at 395 Sutter Street in San Francisco. The store thrived in this location until 1990 when it was relocated to a larger space on Powell Street.
1983: Shifting Focus to Female Customers
Under Wexner's leadership in 1983, Victoria's Secret underwent a transformation, shifting its target audience to primarily women. This strategic move led to a rebranding that emphasized elegance, glamour, and a touch of European luxury.
1985: Howard Gross Promoted to President of Victoria's Secret Stores
In 1985, Howard Gross was promoted to the position of president of Victoria's Secret Stores.
1985: Howard Gross Becomes President
In 1985, Howard Gross assumed the role of president at Victoria's Secret.
1986: Victoria's Secret Dominates the Lingerie Market
By 1986, Victoria's Secret had established itself as the leading national chain specializing in lingerie, capturing a significant share of the market.
1986: Les Wexner's Ties to Jeffrey Epstein
Les Wexner, founder of Victoria's Secret, met Jeffrey Epstein around 1986, and was later reported to have given Epstein power of attorney and access to substantial financial resources.
1986: Rapid Expansion to 100 Stores
Victoria's Secret experienced remarkable growth, expanding its retail footprint to 100 stores by 1986, as reported by The New York Times.
1987: A Leader in Lingerie Retail
In 1987, Victoria's Secret solidified its position as a prominent leader in the lingerie industry, utilizing captivating high-fashion photography to market its mid-priced underwear.
1987: Bestselling Catalog Success
Victoria's Secret's catalog achieved remarkable success in 1987, earning its place among the top-selling catalogs of the time.
1989: Victoria's Secret Launches National Advertising Campaign
In 1989, Victoria's Secret, in collaboration with FCB/Leber Katz Partners, executed a nationwide advertising campaign. The campaign featured a ten-page glossy insert strategically placed in prominent fashion and lifestyle magazines such as Elle, Vogue, Vanity Fair, Victoria, House Beautiful, Bon Appétit, New Woman, and People.
1990: Catalog Expansion and Growth
By 1990, Victoria's Secret had achieved significant success, with analysts estimating that their sales had quadrupled in just four years. This growth was largely attributed to the strategic expansion of their catalog, which began featuring clothing, swimwear, shoes, and a broader range of products.
1990: Relocation of the San Francisco Store
In 1990, Victoria's Secret relocated its San Francisco store from Sutter Street to a more prominent location on Powell Street, reflecting the brand's growth and expansion.
1991: Addressing Quality Issues
Victoria's Secret faced challenges with product quality in the early 1990s. In 1991, Howard Gross was tasked with addressing these issues at the Limited Stores subsidiary.
1991: Victoria's Secret Abandons Marketing Strategy of Featuring Men in Catalogs
Victoria's Secret discontinued its practice of featuring male models alongside female models in its catalog marketing by 1991.
1991: Launch of Victoria's Secret Fragrances
In 1991, Victoria's Secret expanded its product line beyond apparel with the introduction of its own fragrance collection.
1991: Grace Nichols Becomes President of Victoria's Secret Stores
Grace Nichols succeeded Howard Gross as the president of Victoria's Secret Stores in 1991, leading the division until 2007.
1993: Business Struggles and Leadership Change
Both Limited Stores and Victoria's Secret experienced business difficulties in 1993, as reported by Business Week. Following this period, Gross was succeeded by Grace Nichols, who prioritized improving the quality of the company's products.
1993: Introduction of the 'Miracle Bra'
The year 1993 marked the debut of Victoria's Secret's iconic 'Miracle Bra,' an instant success that sold an impressive two million units within its first year.
1994: Competition and the Genesis of the Fashion Show
In 1994, Victoria's Secret faced competition from Sara Lee's WonderBra, prompting a strategic TV campaign in response. This year also saw the inception of the company's groundbreaking fashion show concept, the brainchild of Wexner and Ed Razek.
1995: The First Victoria's Secret Fashion Show
Held in New York City, the first Victoria's Secret Fashion Show took place in 1995, marking the beginning of an annual spectacle that would become synonymous with the brand's image.
1995: First Victoria's Secret Fashion Show
In 1995, Victoria's Secret held its first fashion show, which was broadcast on primetime American television. Overseen by Ed Razek, the show was described by Newsweek as a mix of self-assured strutting for women and voyeuristic pleasure for men, turning lingerie into mainstream entertainment.
1995: The First Victoria's Secret Fashion Show
In 1995, the inaugural Victoria's Secret Fashion Show took place in New York City, setting the stage for a series of iconic runway events that would define the brand's image for years to come.
1995: First Victoria's Secret Fashion Show
The inaugural Victoria's Secret Fashion Show took place in 1995, marking the beginning of what would become a highly anticipated annual event for the brand.
1997: Angels Underwear Collection
In 1997, Victoria's Secret marketed its Angels underwear collection with a TV commercial featuring supermodels like Helena Christensen and Tyra Banks. The commercial, which included a spoof with Tom Jones as 'God,' was popular and established the Angels as regular brand ambassadors.
December 4, 1998: E-Commerce Website Launch
Victoria's Secret launched its e-commerce website on December 4, 1998 after three years of development, signifying its entry into the digital marketplace.
1998: Intimate Beauty Corporation Founded
In 1998, Victoria's Secret's parent company, Intimate Brands Inc., established Intimate Beauty Corporation to oversee the development and management of bath, fragrance, and cosmetic products for the Victoria's Secret brand.
1998: Entry into the Cosmetics Market
Victoria's Secret made a significant move in 1998 by entering the competitive cosmetics market, further diversifying its product offerings.
1998: Victoria's Secret Enters the Cosmetic Market
By 1998, Victoria's Secret had captured 14% of the intimate apparel market and expanded its product line to include cosmetics, entering the $3.5 billion market.
1998: Robin Burns Joins L Brands as CEO of Victoria's Secret Beauty
Robin Burns was hired by L Brands in 1998 to lead Victoria's Secret Beauty as CEO until 2004.
1998: Angels' Runway Debut
In 1998, Victoria's Secret Angels made their runway debut at the brand's 4th annual fashion show. The Angels soon became closely associated with the brand's Fashion Show, continuing this connection until the event's final year in 2018.
February 2, 1999: First Online Streaming of Fashion Show
On February 2, 1999, Victoria's Secret held its first-ever online streaming of their fashion show, led by Ken Weil and Tim Plzak. Despite attracting 1.5 million visits, the webcast was deemed a failure due to technical issues that left many users unable to watch the show.
February 3, 1999: First Online Fashion Show
On February 3, 1999, Victoria's Secret held its first online fashion show, marking a pioneering event in online streaming and attracting a record-breaking 1.5 million viewers.
1999: Victoria's Secret Super Bowl Ad Drives Massive Website Traffic
A 30-second Super Bowl advertisement in 1999 resulted in a surge in traffic to Victoria's Secret's website, with one million visits recorded within an hour of the ad's airing.
1999: Introduction of the Body by Victoria Line
In 1999, Victoria's Secret introduced a new product line called "Body by Victoria". The company's catalog had become very popular at this time.
1999: Database Creation from Webcast
In 1999, Victoria's Secret used the online streaming of their fashion show to create a database of over 500,000 current and potential customers by requiring users to submit their contact details. The next spring, they avoided technical issues by partnering with Broadcast.com, America Online, and Microsoft.
May 2000: Sharen Jester Turney Appointed CEO; Begins Rebranding Efforts
In May 2000, Sharen Jester Turney assumed the role of CEO at Victoria's Secret Direct. Turney initiated a rebranding of the Victoria's Secret catalog, shifting from an overtly sexualized image to a more sophisticated and upscale aesthetic.
May 2000: Sharen Jester Turney Becomes CEO of Victoria's Secret Direct
Sharen Jester Turney took over as chief executive of Victoria's Secret Direct, which included its catalog, in May 2000, succeeding Cynthia Fedus-Fields.
May 2000: Cynthia Fedus-Fields Steps Down as CEO
In May 2000, Cynthia Fedus-Fields resigned from her position as CEO of Victoria's Secret, after achieving record profits for the company in 1999 and early 2000.
2000: Victoria's Secret Fashion Show in France Produced with Harvey Weinstein
The 2000 Victoria's Secret Fashion Show, held in France, was produced with the involvement of Harvey Weinstein.
2000: Miss World 2000 Priyanka Chopra Joins VS Collective
Actress and Miss World 2000 Priyanka Chopra was announced as a member of the VS Collective in 2021, representing a shift towards a more inclusive brand image for Victoria's Secret.
2000: Catalog Popularity and Influence
By 2000, the Victoria's Secret catalog had gained a devoted following and was recognized for its influence on how lingerie was presented, promoting a balance of romance, sensuality, and tastefulness.
2000: Brand Image
In 2000, the Los Angeles Times reported that Victoria's Secret cultivated a brand image that evoked a "British air", aiming for an upscale and subtly sensual aesthetic.
2000: Cynthia Fedus-Fields Departs
Cynthia Fedus-Fields, who had overseen Victoria's Secret's direct business, including its catalog, from the mid-1980s, concluded her tenure in 2000. Under her leadership, the company's total revenue saw a significant increase, approaching nearly $1 billion.
2002: Store Size Expansion
By 2002, the average size of a Victoria's Secret store increased to 6,000 square feet, continuing the trend of expansion that began in the 1990s. This growth was driven by the success of data analysis in identifying selling patterns for specific styles, sizes, and colors.
2002: Intimate Brands Merges with The Limited, Becomes Limited Brands
In 2002, Intimate Brands, the parent company of Victoria's Secret, merged with The Limited. The combined entity was then renamed Limited Brands.
2002: Launch of PINK
Victoria's Secret expanded its reach in 2002 by launching PINK, a brand specifically targeting a younger demographic - teenagers.
2002: Swimwear Makes its Debut
Victoria's Secret introduced its swimwear line in 2002.
March 4, 2003: U.S. Supreme Court Rules Against Victoria's Secret in Trademark Case
On March 4, 2003, the U.S. Supreme Court issued a ruling against Victoria's Secret in the case of Moseley v. V Secret Catalogue, Inc. The court determined that Victoria's Secret had not presented sufficient evidence of actual harm to its trademark in its lawsuit against a strip-mall store named Victor's Little Secret in Elizabethtown, Kentucky.
August 2004: Jill Granoff and Sherry Baker Succeed Robin Burns
Following Robin Burns' departure in August 2004, Jill Granoff assumed the role of COO and Sherry Baker took on the position of president for Victoria's Secret Beauty.
2004: Bob Dylan Advertisement
In 2004, Victoria's Secret presented an unusual advertisement featuring Bob Dylan. The idea, credited to Wexner, aimed to promote the brand through an unexpected figure. The ad became memorable for its ability to unsettle and baffle viewers familiar with Dylan.
2004: Angels Across America Tour
In 2004, Victoria's Secret did not hold a fashion show due to the fallout from the Super Bowl XXXVIII halftime show controversy. Instead, the brand marketed itself through a tour called Angels Across America, featuring contract models like Tyra Banks and Heidi Klum.
2005: Victoria's Secret Opens First UK Boutique at Heathrow Airport
In 2005, Victoria's Secret Beauty expanded its presence internationally by opening a provisional boutique at Heathrow Airport in the UK, partnering with World Duty Free.
2005: Victoria's Secret Stores, Inc. Becomes Victoria's Secret Stores, LLC.
In 2005, Victoria's Secret Stores, Inc. underwent another name revision, becoming Victoria's Secret Stores, LLC.
May 2006: Christine Beauchamp Appointed President and CEO of Victoria's Secret Beauty
Christine Beauchamp was named president and CEO of Victoria's Secret Beauty in May 2006.
May 2006: Turney Promoted to Lead Entire Company
In May 2006, following her success in revitalizing the catalog and online divisions of Victoria's Secret, Turney was promoted by Wexner to oversee the entire company.
September 2006: Victoria's Secret Aims to Elevate Catalog Aesthetic
In September 2006, Victoria's Secret made an effort to make its catalog more akin to high-fashion magazines by hiring writers from Women's Wear Daily.
2006: Victoria's Secret Agrees to Make Catalog More Environmentally Friendly
After facing pressure from environmental groups, Victoria's Secret reached an agreement in 2006 to implement more environmentally friendly practices in the production of its catalog. The agreement mandated that the catalog's wood pulp should contain a minimum of 10% recycled paper and avoid sourcing from forests that served as habitats for woodland caribou in Canada, unless certified by the Forest Stewardship Council.
2006: Victoria's Secret and Bath & Body Works Drive Majority of Limited Brands Revenue
By 2006, Victoria's Secret and Bath & Body Works had become the primary revenue generators for Limited Brands.
2006: Victoria's Secret Dominates Intimate Apparel Market
By 2006, Victoria's Secret had grown to 1,000 stores nationwide and controlled a third of all intimate apparel purchases in the United States.
2006: Victoria's Secret Beauty Hits $1 Billion in Sales
By 2006, Victoria's Secret's Beauty division had achieved significant success, reporting sales of nearly US$1 billion.
2006: Financial Times Exposes Low Wages for Victoria's Secret Factory Workers in Thailand
The Financial Times published a report in 2006 revealing that Victoria's Secret was paying factory workers in Thailand a mere $7 per day to manufacture bras.
July 2007: Limited Brands Sells Majority Stake in Limited Stores and Express
In July 2007, Limited Brands made a strategic decision to sell a 75% interest in Limited Stores and Express to Sun Capital Partners. This move aimed to prioritize the expansion of their Victoria's Secret and Bath & Body Works businesses.
November 13, 2007: Hollywood Walk of Fame Star
On November 13, 2007, Victoria's Secret Angels became the first trademark awarded a star on the Hollywood Walk of Fame. Supermodels like Heidi Klum and Adriana Lima were present for the occasion.
2007: Lori Greely Takes Helm as President of Victoria's Secret Stores
Lori Greely assumed the role of president of Victoria's Secret Stores in 2007 and held the position until 2013.
2008: Turney Acknowledges Product Quality Concerns
In 2008, Turney acknowledged that the quality of Victoria's Secret products had not kept pace with the brand's high-end image and customer expectations.
2008: Fontainebleau Grand Reopening
In 2008, Victoria's Secret Angels participated in the grand reopening of the Fontainebleau in Miami. The event included new Angel Doutzen Kroes and other renowned models.
2008: International Expansion
Victoria's Secret embarked on a global expansion strategy in 2008, establishing a presence in international airports, launching franchises in major cities worldwide, and opening company-owned stores in Canada and the UK.
2008: International Expansion Begins
Victoria's Secret initiated its international expansion in 2008, marking a significant shift in the company's strategy.
2008: Research Article Examines Victoria's Secret's Impact on Body Image
A 2008 research article titled "Victoria's Dirty Secret: How Sociocultural Norms Influence Adolescent Girls and Women" argued that the brand's marketing promotes an unrealistic standard of beauty, contributing to negative body image among women.
2009: Runway Angel Competition
In 2009, Victoria's Secret held a nationwide competition to find a new Runway Angel. Kylie Bisutti won the competition but eventually parted ways with the brand due to disillusionment.
2009: Shashi Batra Becomes President of Victoria's Secret Beauty
Shashi Batra was appointed as president of Victoria's Secret Beauty in 2009.
2010: Victoria's Secret Expands Internationally with VSBA Franchises
Victoria's Secret initiated its international expansion with Victoria's Secret Beauty & Accessory (VSBA) franchises in 2010. M.H. Alshaya Co. opened the first Victoria's Secret store in Kuwait's Marina Mall, offering cosmetics and accessories.
2010: First Canadian Store Opening
Victoria's Secret's expansion into Canada began with the opening of its first store in Edmonton, Alberta in 2010.
2010: Catalog Reach
Victoria's Secret was distributing over 400 million catalogs annually by 2010, highlighting their extensive reach and marketing efforts.
2010: Bombshell Tour
In 2010, Victoria's Secret organized the Bombshell tour featuring its Angels. The tour was one of several promotional events aimed at boosting the brand's visibility.
2010: "Wild Things" Segment Sparks Controversy at Victoria's Secret Fashion Show
The 2010 Victoria's Secret Fashion Show faced criticism for its "Wild Things" segment, where models, including Emanuela De Paula, wore outfits deemed racially insensitive and appropriative of African culture.
2010: Michael Bay Directed Commercials
In 2010, Victoria's Secret released TV commercials directed by Michael Bay. The commercials received mixed reviews, with critics describing them as macho and misguided.
2010: "Incredible" Bra Launch
In 2010, Victoria's Secret launched a new bra style called the "Incredible" bra.
2010: Store Count in the US
By 2010, Victoria's Secret had a significant presence in the US with 1,000 lingerie stores and 100 independent Victoria's Secret Beauty Stores, primarily located in shopping centers and offering a range of products including bras, panties, hosiery, sleepwear and cosmetics.
November 2011: Victoria's Secret Opens First Caribbean Store in Puerto Rico
Victoria's Secret continued its expansion in the Caribbean with the opening of its first store in November 2011 at Plaza Las Americas in San Juan, Puerto Rico.
2011: Increased Budget for Fashion Show
By 2011, the budget for the Victoria's Secret fashion show had grown to $12 million, a significant increase from the $120,000 budget of the first show.
2011: Huffington Post Reports on Poor Working Conditions in Victoria's Secret Factories in Jordan
In 2011, The Huffington Post brought to light the issue of poor working conditions in factories producing Victoria's Secret items in Jordan, alleging that the conditions were akin to slave labor due to the Jordan–United States Free Trade Agreement.
July 2012: Victoria's Secret Opens Store in Warsaw, Poland
In July 2012, Victoria's Secret, in partnership with M.H. Alshaya Co., opened its first store in Poland at the Złote Tarasy shopping mall in Warsaw.
July 2012: Stratford Store Opening
Victoria's Secret opened its first store in the UK at the Westfield Shopping Centre in Stratford, London in July 2012.
July 2012: Victoria's Secret Opens Store in Warsaw, Poland
In July 2012, Victoria's Secret, in partnership with M.H. Alshaya Co., opened its first store in Poland at the Złote Tarasy shopping mall in Warsaw.
August 2012: New Bond Street Flagship Opening
Following the opening of their Stratford store, Victoria's Secret further solidified its presence in London with a flagship store on New Bond Street in August 2012.
November 2012: Susie Coulter Appointed President of Victoria's Secret Beauty
Susie Coulter took on the role of president of Victoria's Secret Beauty in November 2012.
2012: Victoria's Secret Designer Collection Launch
Victoria's Secret released their first high-end lingerie line in 2012, called the Victoria's Secret Designer Collection, described by Vogue as the company's "first high end lingerie line."
2012: Michael Bay Directed Commercials
In 2012, Victoria's Secret again released TV commercials directed by Michael Bay. Similar to the 2010 commercials, these also garnered mixed reviews from critics.
2012: Victoria's Secret Pulls "Go East" Collection After Backlash
Victoria's Secret faced backlash in 2012 for its "Go East" lingerie collection, which was criticized for perpetuating harmful stereotypes about Asian culture. The collection was subsequently pulled from their website.
2012: Expansion in Canada
Victoria's Secret continued its expansion in Canada by opening stores in Nova Scotia and Quebec in 2012.
2012: Native American Headdress Controversy at 2012 Victoria's Secret Fashion Show
Karlie Kloss's outfit in the 2012 Victoria's Secret Fashion Show, which featured a Native American headdress, was removed from the final broadcast after public outcry and accusations of cultural appropriation.
2012: Victoria's Secret Incorporates Organic and Fair-Trade Cotton
In a move towards sustainability, Victoria's Secret began incorporating organic and fair trade-grown cotton into the production of some of its panties in 2012.
2012: VSX Tour
In 2012, Victoria's Secret held the VSX tour as part of its promotional activities featuring its Angels.
2012: Barbara Palvin's Fashion Show Debut
In 2012, Barbara Palvin made her debut in the Victoria's Secret fashion show, later returning in 2018.
2012: Victoria's Secret Manufactures Bras in Guduvanchery, India
Victoria's Secret engaged in bra manufacturing operations in the South Indian city of Guduvanchery in 2012.
2013: Limited Brands Changes Name to L Brands
In 2013, Limited Brands, the parent company of Victoria's Secret, underwent a rebranding and officially changed its name to L Brands.
2013: Swim Tour
In 2013, Victoria's Secret Angels participated in the Swim tour to promote the brand's swimwear collection.
2013: Victoria's Secret Maintains Market Share
In 2013, Victoria's Secret maintained a significant market share, holding approximately one-third of the market within its product category.
2013: Lori Greely Steps Down as President of Victoria's Secret Stores
Lori Greely stepped down from her position as president of Victoria's Secret Stores in 2013.
January 2014: Victoria's Secret Opens Store in Belgrade, Serbia
Expanding its presence in Europe, Victoria's Secret opened a store at the Nikola Tesla Airport in Belgrade, Serbia, in January 2014.
2014: The Perfect Body Campaign Controversy
In 2014, Victoria's Secret launched a campaign for its Body bra line called The Perfect Body. The campaign sparked significant controversy for promoting a limited and unhealthy body type.
2014: Departure of Notable Angels
In 2014, Victoria's Secret saw the departure of Angels like Lindsay Ellingson and Karlie Kloss after the annual fashion show.
2015: Leomie Anderson Begins Walking
In 2015, Leomie Anderson began walking in the Victoria's Secret fashion shows, later becoming an Angel in 2019.
2015: First Swim Special
In 2015, Victoria's Secret released its first Swim Special featuring Angels like Elsa Hosk and Jasmine Tookes, as well as model Joan Smalls.
February 2016: Turney Steps Down, Victoria's Secret Restructures
In February 2016, after a decade with Victoria's Secret, Turney stepped down from her role as CEO. Following her departure, the company underwent a restructuring, dividing itself into three distinct divisions: Victoria's Secret Lingerie, Victoria's Secret Beauty, and Pink, each with its own CEO.
April 2016: Victoria's Secret Discontinues Swimwear Line
Victoria's Secret, which had introduced swimwear in 2002, decided to discontinue the line in April 2016, replacing it with a new activewear collection.
May 2016: Catalog Discontinuation
Victoria's Secret discontinued its catalog in May 2016 due to its declining effectiveness as a marketing tool in the evolving digital landscape.
2016: Cultural Appropriation Accusations at 2016 Victoria's Secret Fashion Show
The 2016 Victoria's Secret Fashion Show drew criticism for its "The Road Ahead" segment, which many viewed as appropriating Chinese and Mexican cultures, particularly through the outfits worn by Kendall Jenner, Elsa Hosk, and Adriana Lima.
2016: Declining Market Share and Catalog Discontinuation
Victoria's Secret's market dominance began to wane in 2016 as the company faced competition from brands embracing inclusivity and the rise of athleisure. This year also marked the end of their iconic catalog.
2016: Victoria's Secret Achieves Record Worldwide Net Sales
Victoria's Secret reached a significant milestone in 2016, recording its peak worldwide net sales of $7.78 billion.
2016: Product Line Reduction
Victoria's Secret narrowed its product offerings, eliminating swimwear, apparel, shoes, and accessories in 2016.
2016: Jan Singer Becomes CEO of Victoria's Secret Direct
Following Sharen Jester Turney's departure in 2016, Jan Singer was appointed as the CEO of Victoria's Secret Direct.
2016: Division Restructuring
In 2016, Wexner restructured Victoria's Secret into three divisions: 'Victoria's Secret Stores', 'Victoria's Secret Direct', and 'Victoria's Secret Beauty', to "refocus on core business", with each division having its own CEO.
2016: Victoria's Secret Discontinues Print Catalog, Sales Decline
In 2016, Victoria's Secret experienced sluggish growth in direct sales, with a mere 1.6% increase, and a significant 7.4% drop in the final quarter, traditionally a high-revenue period due to the holiday season. This period also marked the end of their print catalog and the elimination of certain clothing lines like swimwear.
2016: Expansion in China
In 2016, L Brands repurchased 26 Victoria's Secret stores in China from its franchise partners, signaling a move towards greater control over its operations in the country. This coincided with their announcement to expand beyond the existing Victoria's Secret Beauty & Accessory (VSBA) stores by opening flagship stores in Shanghai and Beijing.
2016: Grace Elizabeth's Fashion Show Debut
In 2016, Grace Elizabeth, a PINK spokesmodel, made her debut in the Victoria's Secret fashion show.
2016: Greg Unis Becomes CEO of Victoria's Secret Beauty
Greg Unis was hired as CEO of Victoria's Secret Beauty in 2016.
2016: International Operations and Franchising
By 2016, L Brands retained direct control of Victoria's Secret stores in Canada, the UK, and China. However, for its Victoria's Secret Beauty & Accessory (VSBA) locations in other parts of the world, the company opted for a franchise model.
2016: L Brands Operates Over 370 VSBA Franchise Shops Worldwide
By 2016, L Brands had significantly expanded its global reach, operating more than 370 VSBA franchise shops worldwide, with Turkey and the Middle East emerging as key international markets.
2016: Limited Same-Store Sales Growth
Between 2016 and 2018, only one quarter showed an increase in same-store sales.
2017: Alexina Graham Walks in Fashion Show
In 2017, Alexina Graham, the first redheaded Angel, walked in the Victoria's Secret fashion show, continuing her appearances in 2018.
2017: Victoria's Secret Settles Discrimination Lawsuits
In 2017, Victoria's Secret settled multiple lawsuits alleging racism, profiling, and discrimination for $12 million in California and New York. An additional settlement of $179,300 was reached with the Equal Employment Opportunity Commission.
2017: Focus on Bralettes and Sports Bras
In 2017, Victoria's Secret shifted its focus to bralettes and sports bras, particularly under the Victoria Sport label, to appeal to a younger demographic.
2017: Victoria's Secret Accused of Cultural Appropriation Again in 2017 Show
In 2017, the brand faced renewed criticism for cultural appropriation, particularly within its "Nomadic Adventures" segment, which was accused of insensitive use of Native American and Indigenous African cultural elements.
2017: Sales Revenue Continues to Fall
Sales revenue continued to stagnate and drop in early 2017.
November 2018: Swimwear Line Relaunched
The swim line was relaunched in November 2018.
November 2018: Ed Razek's Comments on Transgender Models Spark Backlash
In November 2018, Ed Razek, then president of Victoria's Secret, stated that transgender models didn't belong in the Victoria's Secret Fashion Show because it was a "fantasy." His comments sparked widespread criticism and calls for inclusivity.
2018: Final Year of Fashion Show Featuring Angels
In 2018, the Victoria's Secret Fashion Show held its final event featuring the Angels, marking the end of a significant era for the brand.
2018: Jan Singer Exits as CEO of Victoria's Secret Direct
Jan Singer's tenure as CEO of Victoria's Secret Direct came to an end in 2018.
2018: Final Victoria's Secret Fashion Show
The Victoria's Secret Fashion Show, which had become a significant cultural event, was discontinued after 2018.
2018: Barbara Palvin Returns to Fashion Show
In 2018, Barbara Palvin returned to the Victoria's Secret fashion show after her debut in 2012.
2018: End of an Era: The Final Victoria's Secret Fashion Show
After 23 years of captivating audiences, the Victoria's Secret Fashion Show came to an end in 2018, signaling a shift in the brand's marketing and image.
2018: CEO Jan Singer Resigns Amidst Declining Sales and Controversy
In late 2018, CEO Jan Singer resigned from her position following a period of declining sales. This announcement coincided with mounting controversy surrounding a comment made by CMO Ed Razek, who stated that the company would not include transgender or plus-size models in its annual fashion show because it was intended to be a "fantasy."
March 2019: Swimwear Returns to Stores
In March 2019, the swim line was made available in shops.
August 2019: Victoria's Secret Hires First Openly Transgender Model, Razek Steps Down
Victoria's Secret hired its first openly transgender model, Valentina Sampaio, for its PINK line in August 2019. The same month, Ed Razek resigned from his position.
August 2019: CMO Ed Razek Resigns
In August 2019, chief marketing officer, Ed Razek resigned following a disastrous Vogue interview in which he made inflammatory statements about transgender models.
November 2019: Victoria's Secret Cancels Annual Fashion Show
In November 2019, Victoria's Secret made a significant shift in its marketing strategy by announcing the cancellation of its annual fashion show, which had become synonymous with the brand's image.
November 2019: Cancellation of Runway Show
In November 2019, Victoria's Secret canceled its annual runway show. By 2011, the budget for the fashion show had increased to $12 million from the first show's budget of $120,000.
2019: Eyewear and Footwear Relaunch
In an attempt to revitalize declining sales, Victoria's Secret relaunched their eyewear and footwear product lines in 2019.
2019: John Mehas Appointed CEO of Victoria's Secret
John Mehas was appointed as the CEO of Victoria's Secret in 2019.
2019: Initiatives to Protect Models
In 2019, the Model Alliance and other organizations reported on new initiatives in California, New York, and the United States aimed at protecting models from harassment and sexual abuse.
2019: New Angels Added to Roster
In 2019, Victoria's Secret welcomed new Angels, including Leomie Anderson and Grace Elizabeth, expanding its roster of high-profile models.
2019: Monica Mitro Alleges Verbal Abuse and is Placed on Leave
In 2019, Monica Mitro, a high-ranking executive at Victoria's Secret, reported repeated verbal abuse by former CMO Ed Razek. The day after making these allegations, Mitro was locked out of her office and placed on leave.
2019: Victoria's Secret Announces Store Closures and Swimwear Relaunch
Following a 40% drop in stock value in a single year, Victoria's Secret revealed plans to shut down 53 stores across the U.S. in 2019, while also announcing the relaunch of its swimwear line.
2019: Victoria's Secret's Worldwide Net Sales Decline
By 2019, Victoria's Secret's worldwide net sales had experienced a decline, reaching $6.81 billion.
January 2020: Lex Wexner Discusses Stepping Down
In January 2020, Lex Wexner, the chairman and CEO of L Brands, the parent company of Victoria's Secret, engaged in discussions about the possibility of stepping down from his position.
February 1, 2020: New York Times Exposé Reveals Toxic Workplace Culture at Victoria's Secret
On February 1, 2020, The New York Times published a revealing exposé that shed light on the "culture of misogyny" deeply ingrained within Victoria's Secret. The article specifically highlighted the long-standing and pervasive sexual misconduct of Ed Razek, a highly influential executive at the company.
February 2020: Victoria's Secret Announces Sale to Sycamore Partners
In February 2020, Victoria's Secret announced its sale to the private equity firm Sycamore Partners for $525 million, with L Brands retaining a 45% minority stake.
February 2020: Reports of Bullying and Harassment Surface
Reports of widespread bullying and harassment at Victoria's Secret surfaced in February 2020.
April 22, 2020: Sycamore Partners Backs Out of Acquisition Deal
On April 22, 2020, The Wall Street Journal reported that Sycamore Partners, a private equity firm, had decided to withdraw from a deal to acquire Victoria's Secret. The deal, which included clauses accounting for unforeseen circumstances like a pandemic, ultimately fell apart.
May 2020: Victoria's Secret Remains a Lingerie Giant Despite Challenges
Despite facing increased competition and controversies, Victoria's Secret maintained its position as the largest lingerie retailer in the United States in May 2020, boasting over 1,070 stores.
May 2020: Canadian Store Closures
In May 2020, Victoria's Secret announced the closure of 13 out of its 38 stores in Canada, marking a significant setback for the brand's presence in the country.
June 2020: UK Financial Struggles and Store Closures
In June 2020, Retail Dive reported that Victoria's Secret's UK arm was facing significant financial challenges, including declining sales, profits, and market share, leading them to file for bankruptcy protection.
June 2020: Shareholder Files Lawsuit Against Victoria's Secret
In June 2020, a shareholder initiated legal action against Victoria's Secret, alleging that the company had failed to take appropriate action in response to reports of harassment, discrimination, and retaliation within the organization.
June 2020: Hong Kong Flagship Closure
Victoria's Secret closed its flagship store in Causeway Bay, Hong Kong in June 2020 after only two years of operation.
November 2020: Chief Executive John Mehas Steps Down
In November 2020, Victoria's Secret's chief executive John Mehas stepped down from his position, paving the way for Raul Martinez's appointment as head creative director in December 2020.
November 2020: Martin Waters Replaces John Mehas as CEO
Martin Waters took over as CEO of Victoria's Secret in November 2020, replacing John Mehas.
December 2020: Appointment of Raul Martinez
In December 2020, Victoria's Secret announced Raul Martinez as the new head creative director. Martinez, formerly of Condé Nast, took on the role after John Mehas stepped down in November 2020.
2020: Mitro Settles with Victoria's Secret
In 2020, following her allegations of verbal abuse and subsequent dismissal, Monica Mitro settled with Victoria's Secret for an undisclosed amount.
2020: Notable Angels and Spokesmodels
By 2020, Victoria's Secret had over three dozen official Angels. Notable spokesmodels included Claudia Schiffer and Ana Beatriz Barros, along with celebrities like Taylor Momsen.
January 14, 2021: Shareholders File Complaint Against L Brands
Shareholders of L Brands filed a complaint on January 14, 2021, with the Court of Chancery of Delaware, alleging that former chair Les Wexner, alongside other key figures, had fostered a toxic and harmful work environment. The complaint specifically highlighted the creation of an "entrenched culture of misogyny, bullying and harassment" and accused Wexner of being aware of the abuses committed by Jeffrey Epstein, a convicted sex offender.
July 2021: Plans to Relaunch Runway Show
In July 2021, Victoria's Secret announced plans to relaunch its runway show, but without the Victoria's Secret Angels.
August 3, 2021: Victoria's Secret Becomes Independent Company
Wexner's parent company, L Brands, spun off Victoria's Secret, allowing it to become an independent business and begin trading on the NYSE as VSCO on August 3, 2021. Following this change, Victoria's Secret reported increased sales in all three completed quarters of 2021.
October 2021: Pink Reusable Period Panties Launch
Victoria's Secret's Pink brand introduced a line of reusable period panties in October 2021.
2021: Martin Waters Takes Helm as CEO
Martin Waters was appointed CEO in 2021, taking over from Stuart Burgdorfer who had been serving as interim CEO.
2021: Victoria's Secret Provides Financial Assistance to Thai Garment Workers
Victoria's Secret stepped in to provide financial support to over 1,250 Thai garment workers in 2021. These workers were owed $8.3 million when their factory, Brilliant Alliance, shut down after declaring bankruptcy.
2021: Victoria's Secret Implements Policy Changes, New Partnerships
In 2021, following the departure of Ed Razek and the sale of the company by Les Wexner, Victoria's Secret's new leadership implemented significant policy changes and established partnerships with several prominent women, including Megan Rapinoe, Priyanka Chopra Jonas, and Naomi Osaka, as part of its rebranding strategy.
2021: Introduction of VS Collective
In 2021, Victoria's Secret discontinued the Angels in favor of the VS Collective, featuring a more diverse group of models and influencers, including Megan Rapinoe and Valentina Sampaio.
January 25, 2022: Joint Venture with Regina Miracle
On January 25, 2022, Victoria's Secret entered into a joint venture partnership with Regina Miracle International (Holdings) Limited to further develop its business in China.
July 2022: Amy Hauk Named CEO of Victoria's Secret and Pink
In July 2022, Victoria's Secret appointed Amy Hauk, daughter of Steve Hauk, as the chief executive officer of both the Victoria's Secret and Pink brands.
November 2022: Victoria's Secret Acquires Adore Me
In November 2022, Victoria's Secret announced its acquisition of Adore Me, a New York-based lingerie brand, for a sum of US$400 million.
2022: Victoria's Secret Hires First Black Transgender Model
In 2022, Emira D'Spain made history as the first Black transgender model hired by Victoria's Secret.
2022: Elimination of Cashmere
Victoria's Secret & Co. made an announcement in 2022 that they would cease using cashmere in all their product lines.
October 2023: Victoria's Secret Considers Rebranding Reversal
In October 2023, multiple media outlets reported that Victoria's Secret was contemplating a reversal of its recent rebranding efforts. This decision was reportedly influenced by a decline in sales following an initial increase after the rebranding.
2023: Alex Consani Joins Victoria's Secret Rebrand
Alex Consani was hired to be a part of the Victoria Secret rebrand in the 2023 fashion show.