Company Profile

Roy Raymond in the San Francisco area established Victoria’s Secret during the 1970s. Raymond saw an opportunity in taking “underwear” of the time and turning it into fashion. The company's first store was located in Stanford Shopping Centre in Palo Alto, California on June 12, 1977. (Wiley,October 9, 2012). In 1982, after five years of operation, Roy Raymond sold the Victoria's Secret Company, with its six stores and 42-page catalogue, grossing $6 million per year, to Leslie Wexner, creator of The Limited, for $4 million (Oana Cioploiu, 2014).

 

Victoria's Secret Stores operates about 1,060 locations in the US, about 55 in Canada, and five shops in the UK.  It operates a part of Limited Brand Inc (see appendix 3 for further information). Victoria is headquartered in Columbus, Ohio, the US. Victoria’s Secret is the fastest growing subsidiary of Limited Brands and contributes 42% of corporate profits (Vault, 2013). The Victoria secret stores are situated in malls, lifestyle centres and street locations. 

 

The company’s product offerings include women's intimate and other apparel, prestige fragrances and cosmetics, celebrated supermodels and a world-famous runway show.

 

Additionally Victoria’s Secret branded products is also available in Victoria’s Secret beauty and Accessories stores operated by partners under a franchise or wholesale model throughout the world. They are 1,000-square-foot shops with an edited selection of fragrances and personal care products, small leather goods, cosmetics cases and sunglasses have grown to 198 locations around the world (Eaton, 2014).

 

Victoria's Secret Direct reaches more than 390 million customers each year through Victoria's Secret Catalogue - and our website is one of the fastest growing and profitable e-commerce destinations on the Internet. Products are also available through the catalogue and online business, Victoria's Secret Direct, with sales of approximately $870 million (LBrands, 2015). 

 

Mission Statement

“We are committed to building a family of the world’s best retail brands that offer captivating experiences that drive long-term loyalty and deliver sustained growth for our shareholders.”

Victoria’s Secret strives to “deliver a best in class, captivating, branded customer experience that builds loyalty and enables consistent sales and profit growth” (LBrands, 2015).

 

Unique selling point

Victoria’s Secret calculated strategies for captivating the American women and for expanding worldwide are what made this brand a top lingerie leader on the market. The luxurious customer experience, the amazing Fashion Show, held annually, and the brand’s Angels made it impossible for competitors even to come close to the Victoria’s Secret dominance (Hartman, 2014).