Hey guys! Ever wondered who really calls the shots at Victoria's Secret? We all know and recognize the brand, with its glamorous fashion shows and iconic lingerie. But behind the scenes, the ownership has shifted over the years, leading to some pretty interesting changes. So, let's dive deep into the history and current ownership of this famous brand.

The Early Days of Victoria's Secret

Let's rewind a bit. Victoria's Secret was founded in 1977 by Roy Raymond. His motivation? He felt awkward buying lingerie for his wife in a department store environment. So, he decided to create a more comfortable and inviting space for men to purchase lingerie. The first store was located in a shopping mall in California, and it quickly gained popularity. Raymond's concept was revolutionary at the time. He wanted to create a boutique-like atmosphere, complete with knowledgeable staff and beautifully displayed lingerie. This was a stark contrast to the traditional department store lingerie sections, which often felt impersonal and overwhelming. The brand quickly expanded, opening more stores and introducing its famous catalog. This catalog played a significant role in the brand's growth, bringing Victoria's Secret into homes across America. It featured stunning models and high-quality photography, creating a sense of aspiration and luxury. The brand's image was carefully crafted to appeal to both men and women, and it worked wonders. But, as with many entrepreneurial stories, the initial success didn't guarantee long-term stability for Raymond. In the early 1980s, he faced financial difficulties and made a decision that would change the course of Victoria's Secret forever. He sold the company to Leslie Wexner and L Brands (then The Limited) in 1982 for a mere $1 million. Little did he know, this was the beginning of a new era for the brand, one that would see it rise to global fame but also face its fair share of controversies.

The Leslie Wexner Era

After Leslie Wexner acquired Victoria's Secret in 1982, the brand experienced explosive growth. Wexner, the founder of L Brands, had a keen eye for retail and a knack for understanding consumer trends. Under his leadership, Victoria's Secret transformed from a small chain of stores into a global lingerie empire. Wexner's vision was to make Victoria's Secret a household name, and he achieved this through a combination of savvy marketing, strategic store expansions, and a focus on creating a captivating brand image. One of the key strategies was to expand the product line. Victoria's Secret started offering a wider range of lingerie styles, as well as sleepwear, swimwear, and beauty products. This diversification allowed the brand to cater to a broader audience and increase its sales. Wexner also recognized the power of media and entertainment. In 1995, Victoria's Secret launched its first televised fashion show, which quickly became a cultural phenomenon. The show featured some of the world's top models, known as "Angels," and showcased the brand's latest collections in a spectacular runway presentation. The Victoria's Secret Fashion Show became a highly anticipated annual event, drawing millions of viewers and generating massive media buzz. It solidified the brand's image as glamorous, aspirational, and cutting-edge. However, the Wexner era was not without its challenges and controversies. As the brand grew, it faced increasing scrutiny over its marketing practices, its portrayal of women, and its environmental impact. Some critics argued that the brand promoted unrealistic beauty standards and objectified women. Others raised concerns about the brand's supply chain and its labor practices. Despite these controversies, Leslie Wexner remained at the helm of L Brands for several decades, overseeing the continued growth and evolution of Victoria's Secret. His leadership shaped the brand into what it is today, for better or worse.

The Spin-Off: Victoria's Secret Becomes Its Own Company

In 2021, a significant shift occurred. Victoria's Secret was spun off from L Brands, becoming its own publicly traded company, Victoria's Secret & Co. (VSCO). This move marked a new chapter in the brand's history, giving it more autonomy and control over its operations. The decision to spin off Victoria's Secret was driven by several factors. First, L Brands wanted to focus on its more profitable brands, such as Bath & Body Works. Second, Victoria's Secret had been facing declining sales and a tarnished brand image in recent years, and the spin-off was seen as an opportunity to revitalize the company. The spin-off was structured as a tax-free transaction, with L Brands shareholders receiving shares of Victoria's Secret & Co. The new company is led by CEO Amy Hauk, who is tasked with turning the brand around and restoring its former glory. As an independent company, Victoria's Secret & Co. has more flexibility to make its own decisions and pursue its own strategies. It can invest in new product categories, experiment with different marketing approaches, and focus on improving its supply chain and labor practices. The company has also made a commitment to becoming more inclusive and diverse in its marketing and advertising campaigns. This includes featuring models of different sizes, ethnicities, and backgrounds. The spin-off of Victoria's Secret is a major turning point for the brand. It remains to be seen whether the company can successfully navigate the challenges ahead and regain its position as a leading lingerie retailer. But one thing is clear: the brand is determined to evolve and adapt to the changing needs and expectations of its customers.

Who Currently Owns Victoria's Secret?

So, to answer the big question: Victoria's Secret is currently owned by its shareholders, as it is a publicly traded company under the name Victoria's Secret & Co. (VSCO). This means that ownership is distributed among numerous investors who hold shares of the company. While there isn't one single owner like in the early days with Roy Raymond or the long tenure of Leslie Wexner, the company is governed by a board of directors and managed by its executive team, led by the CEO. The board of directors is responsible for overseeing the company's strategy and performance, while the executive team is responsible for the day-to-day operations. Major institutional investors and mutual funds often hold significant portions of the company's stock, giving them considerable influence. These large shareholders can impact decisions through their voting rights and engagement with the company's management. Since becoming a standalone entity, Victoria's Secret & Co. has been working to redefine its brand image and reconnect with consumers. This involves initiatives like promoting body positivity, supporting women's empowerment, and creating more inclusive product lines. The company faces the challenge of balancing its historical image with the evolving values of its customer base. The success of Victoria's Secret & Co. depends on its ability to adapt to these changes and deliver products and experiences that resonate with modern consumers. With a distributed ownership structure, the company's direction is influenced by a variety of stakeholders, all with a vested interest in its future.

The Future of Victoria's Secret

Looking ahead, the future of Victoria's Secret is still being written. As Victoria's Secret & Co. navigates its new independence, it faces both opportunities and challenges. The brand is working to modernize its image, embrace inclusivity, and adapt to changing consumer preferences. One key area of focus is enhancing the customer experience. This includes improving the in-store environment, offering personalized services, and creating a seamless online shopping experience. Victoria's Secret is also investing in new technologies to enhance its operations and improve its supply chain efficiency. Another important area is sustainability. The brand is committed to reducing its environmental impact by using more sustainable materials, reducing waste, and promoting responsible manufacturing practices. Victoria's Secret is also working to improve its social impact by supporting women's empowerment initiatives and promoting ethical labor practices. The brand recognizes that it has a responsibility to be a good corporate citizen and contribute to a more sustainable and equitable world. Ultimately, the success of Victoria's Secret will depend on its ability to stay relevant, innovative, and responsive to the needs of its customers. By embracing change, prioritizing sustainability, and fostering a culture of inclusivity, the brand can position itself for long-term growth and success. Only time will tell what the future holds for Victoria's Secret, but one thing is certain: the brand is committed to evolving and adapting to the ever-changing world of retail. So, keep an eye on Victoria's Secret & Co. – their journey is far from over, and they might just surprise us!