Victoria's Secret was started in San Francisco, California, in 1977 by Tufts University and Stanford Graduate School of Businessalumnus Roy Raymond, who felt embarrassed trying to purchase lingerie for his wife in a department store environment. He opened the first store at Stanford Shopping Center in Palo Alto, and quickly followed it with a mail-order catalog and three other stores. The stores were meant to create a comfortable environment for men, with wood-paneled walls, Victorian details and helpful sales staff. Instead of racks of bras and panties in every size, there were single styles, paired together and mounted on the wall in frames. Men could browse for styles for women and sales staff would help estimate the appropriate size, pulling from inventory in the back rooms.
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.The Limited kept the personalized image of Victoria's Secret intact. Victoria's Secret was rapidly expanded into the U.S. malls throughout the 1980s. The company was able to vend a widened range of products, such as shoes, evening wear, and perfumes, with its mail catalog issued eight times annually. By the early 1990s, Victoria's Secret had become the largest American lingerie retailer, topping one billion dollars.
Beginning in 1995, Victoria's Secret began holding the annual Victoria's Secret Fashion Show, which is broadcasted primetime onAmerican television. The show is a lavish event with elaborate costumed lingerie, varying music, and set design according to the different themes running within the show. The show attracts hundreds of celebrities and entertainers, with special performers and/or acts every year.
On July 10, 2007, Limited Brands sold 75% of The Limited clothing chain to firm Sun Capital Partners to focus and boost sales growth on Victoria's Secret lingerie stores and Bath & Body Works units, which provided 72% of revenue in 2006 and almost all the firm's profit. There are 1,000 Victoria's Secret lingerie stores and 100 independent Victoria's Secret Beauty Stores in the US, mostly in shopping centers. It sells brassieres, panties, hosiery, cosmetics, sleepwear, and other products. Victoria's Secret mails more than 400 million of its catalogs per year. Under pressure from environmentalist groups, Victoria's Secret's parent firm and a conservation group have reached an agreement to make the lingerie retailer's catalog more environmentally friendly in 2006. The catalog will no longer be made of pulp supplied from any woodland caribou habitat range in Canada, unless it has been certified by the Forest Stewardship Council. The catalogs will also be made of 10 percent recycled paper from post-consumer waste.
Victoria's Secret is an American retailer of women's wear, lingerie and beauty products. It is the largest segment of publicly-tradedLimited Brands with sales of over US$5 billion and an operating income of $1 billion in 2006. Victoria's Secret is known for its annual fashion show, the Victoria's Secret Fashion Show, and for its catalogs, both of which feature top fashion models.
FASHION SHOW
Victoria's Secret Fashion Show is an annual fashion show sponsored by Victoria's Secret, a brand lingerie and sleepwear. Victoria's Secret uses the show to promote and market its goods in high-profile settings. The show features some of the world's leading fashion models such as current Victoria's Secret Angels Adriana Lima, Alessandra Ambrosio, Miranda Kerr, Doutzen Kroes, Behati Prinsloo, Candice Swanepoel, Chanel Iman,Erin Heatherton, Lily Aldridge, and Lindsay Ellingson.
American network television broadcasts the show during prime time. The first few shows in the 1990s were held in the days preceding Valentine's Day to promote the brand for this holiday. They were not aired on national television. In 1999 and 2000 the show was webcast. Beginning in 2001, the shows were moved ahead of the Christmas holiday season. Also in 2001, the show made its network television broadcast on ABC, though in all subsequent years, it has been broadcast on CBS. The show has been held at a variety of locations in different cities including Miami, Los Angeles, and Cannes. The first four shows were held at the Plaza Hotel in New York City, but since it has become a televised event it has most often been held at the Lexington Avenue Armory in New York City.
The show is a lavish event with elaborate costumed lingerie, varying music by leading entertainers, and set design according to the different themes running within the show. The show attracts hundreds of celebrities and entertainers, with special performers and acts every year. Each year, twenty to forty of the world's top fashion models are selected to perform in the fashion show. In a typical year, this includes about a half dozen women under contract to the company, known asVictoria's Secret Angels, who help publicize the event. The giant angel wings worn by the models, as well as other wings of various forms and sizes such as butterfly, peacock, or devil wings, have become emblematic of the Victoria's Secret brand.
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