Victoria's Secret & Co.

Victoria's Secret & Co.
Name	Victoria's Secret & Co.
Founded	0 1977
Founder	Roy Raymond
Hq location city	Reynoldsburg, Ohio
Hq location country	United States
Key people	Martin Waters (CEO)
Industry	Retail
Products	Lingerie, Sleepwear, Beauty Products

Victoria's Secret & Co. is a prominent American retailer specializing in lingerie, sleepwear, and beauty products. Founded in San Francisco, the company grew from a single store into a global brand renowned for its annual Victoria's Secret Fashion Show and iconic Angels marketing campaign. Following significant shifts in consumer preferences and public criticism, the company has undertaken substantial rebranding efforts to modernize its image and business strategy in the 2020s.

History

The company was founded in 1977 by Roy Raymond, who opened the first store in Stanford Shopping Center in Palo Alto, California, aiming to create a comfortable environment for men to purchase lingerie. Struggling financially, Raymond sold the company to Leslie Wexner, founder of The Limited, in 1982. Under The Limited's ownership, the brand expanded rapidly throughout the 1980s and 1990s, transforming into a mall staple. A defining moment in its history was the launch of the Victoria's Secret Fashion Show in 1995, which became a major televised event featuring top supermodels like Tyra Banks and Heidi Klum. In 2021, the company was spun off from its parent, L Brands, and began trading independently on the New York Stock Exchange.

Business operations

The company operates through a vast network of retail channels, including over one thousand Victoria's Secret and PINK stores across North America and numerous international locations in markets like China and the United Kingdom. Its headquarters are located in Reynoldsburg, Ohio, with major offices also in New York City and Columbus, Ohio. The business model encompasses direct-to-consumer e-commerce, which represents a significant portion of sales, and wholesale partnerships with retailers such as Amazon.com. Key leadership has included CEOs like Sharen Jester Turney and, since 2020, Martin Waters, who has overseen a strategic shift towards inclusivity.

Products and brands

Core product offerings include bras, panties, sleepwear, and athleisure wear under the main Victoria's Secret label. The company's youth-oriented brand, PINK, focuses on casual apparel, loungewear, and collegiate-themed merchandise. Its beauty division sells fragrances, body care items, and cosmetics, often linked to fashion show themes or model collaborations. In recent years, the portfolio has expanded to include more diverse product lines such as mastectomy bras, adaptive apparel, and a broader range of sizes, moving beyond its traditional focus.

Marketing and image

For decades, the company's marketing was synonymous with the "Angels" concept, featuring a roster of internationally famous supermodels like Gisele Bündchen and Adriana Lima in highly stylized advertisements. The Victoria's Secret Fashion Show, broadcast on networks like CBS and ABC, was a cornerstone of its brand image, blending fashion with entertainment and musical performances from artists like Taylor Swift and The Weeknd. Following widespread criticism, the company retired the Angels in 2021 and launched the "VS Collective", a group of ambassadors including Megan Rapinoe and Priyanka Chopra Jonas, to promote a more inclusive message.

Corporate affairs

The company is a publicly traded entity on the New York Stock Exchange under the ticker symbol VSCO. Its corporate structure was established following the 2021 spin-off from L Brands, which also owns Bath & Body Works. Governance includes a board of directors with members from diverse professional backgrounds. The firm engages in various philanthropic initiatives, historically through the Victoria's Secret Foundation and partnerships with organizations like Pelotonia. It maintains significant relationships with global supply chain partners and manufacturers across Asia and Latin America.

Controversies and criticism

The company has faced extensive controversy regarding its marketing's impact on body image and its lack of size and diversity inclusivity, notably criticized by figures like Sophia Amoruso and the model Cameron Russell. Its association with Jeffrey Epstein, who was briefly a consultant for Leslie Wexner, drew significant media scrutiny and legal attention. Internal corporate culture issues were exposed in a 2020 investigation by The New York Times, detailing allegations of misogyny and harassment. These events, coupled with declining sales, catalyzed the major rebranding efforts and the discontinuation of the Victoria's Secret Fashion Show after 2018.

Category:American companies established in 1977 Category:Retail companies based in Ohio Category:Lingerie brands