|Headquarters||Columbus, Ohio, U.S.|
|Number of locations||1,017 company-owned stores|
18 independently owned stores 
|Key people||Lori Greeley (CEO of Victoria's Secret Stores)|
Sharen Jester Turney (CEO of Victoria's Secret Megabrand and Intimate Apparel)
|Products||Bras, panties, sleepwear, hosiery, women's clothing, lingerie, swimwear, footwear, fragrances and beauty products|
Victoria's Secret is an American retailer (originally owned by "The Limited") of women's wear, lingerie and beauty products. It is the largest segment of publicly traded Limited Brands with sales of over $5 billion and an operating income of $1 billion in 2006. Victoria's Secret operates over 1,000 stores in the U.S., and mails out approximately 375 million catalogues per year.  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.
1977–1982: The early years
Victoria's Secret was founded in San Francisco, California, in 1977 by Tufts University and Stanford Graduate School of Business alumnus Roy Raymond, who felt embarrassed trying to purchase lingerie for his wife in a department store environment. With $80,000 loan, evenly borrowed from relatives and a bank, Raymond opened the first store at Stanford Shopping Center in Palo Alto.
Raymond quickly followed it with a mail-order catalog oporation 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 Limited Stores Inc of Columbus, Ohio, for $1 million.
1983–2009: The Limited purchase & expansion
The Limited kept the personalized image of Victoria's Secret intact after purchasing the company from Raymond in 1982. Leslie Wexner changed Victoria Secret's brand from one focused on selling to female customers from Raymond's strategy of selling primarily to male customers. Wexner sought to sell "new colors, patterns and styles that promised sexiness packaged in a tasteful, glamorous way and with the snob appeal of European luxury". Victoria Secret's catalog listed the company's headquarts with a London address—when actually the headquarters were in Columbus, Ohio.
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.
In 1987 it was reported that the Victoria's Secret catalog was amongst the "best-selling catalogs".
Victoria’s Secret releases their own line of fragrances.
The Victoria’s Secret mail order catalog business was reported as amongst the fastest in the United States in1990; when at which time analysts estimated that sales were in the area of $120 million a fourfold increase fromfour years prior when sales were $30 million. While many other clothing and fashion companies were struggling in what was said to be a "merchandise recession," Victoria's Secret still managed to sell more than any other retail store in the world.
During 1998 Victoria’s Secret enters the $3.5 billion cosmetic market.
By 2000 slower sales growth from the catalog division relative to other divisions led to a management change at the catalog division.
By 2006, 72% of Limited Brands’ revenue—and almost all of their profits—came from their Victoria’s Secret and Bath & Body Works units.
On July 10, 2007, Victoria’s Secret parent company, Limited Brands, sold a 75% interest in their apparel brands, Limited Stores and Express to Sun Capital Partners to focus on expanding their Victoria's Secret and Bath & Body Works units. The immediate impact of the sale resulted in Limited Brands taking a $42 million after-tax loss.
The company gained notoriety in the early 1990s after it began to use supermodels in its advertising and fashion shows. Throughout the past decade, it has turned down celebrity models and endorsements.
On October 22, 2008, Victoria's Secret launched a Spanish version of its website
Products and marketing
A window display advertising Pink's "Think Green" line.
Pink is a sub-brand founded in 2004 and marketed toward late-teen and college-age women, selling age-appropriate underwear, sleepwear, lounge wear, beauty products, and accessories, with the intent to transition buyers into more adult product lines, such as Angels, Very Sexy, and Body by Victoria. Pink competition includes Abercrombie & Fitch.
Pink's yoga pants in particular, are popular within the college-aged group. Pink has a college line that focuses brand recognition through public university athletics. The Victoria's Secret, in Cincinnati, sold a collegiate line, in partnership with the University of Cincinnati, in 2011. The brand is marketed to be fun, playful, and flirtatious. Promotions for the line come from college tours, tie-ins with the music channel MTV, and social media such as Facebook, MySpace. In 2011, the line announced a partnership with all 32 NFLteams and began selling apparel containing NFL team logos and names.
Victoria's Secret Fashion Show
Beginning in 1995, Victoria's Secret began holding the annual Victoria's Secret Fashion Show, which is broadcast on primetime American 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.
It was reported that the 2000 webcast of the show attracted more than two million viewers.
Victoria's Secret Angels
Although it now refers to the brand's most visible spokeswomen (while the fashion show models are referred to as "Runway Angels"), the Angels started out as one of Victoria's Secret's lingerie lines. The models featured in the original advertising campaign in 1997 were Helena Christensen, Karen Mulder, Daniela Peštová, Stephanie Seymour, and Tyra Banks. Due to their growing popularity, the brand used them in several other advertising campaigns until Christensen's departure. In February 1998, the Angels made their runway debut at Victoria's Secret's 4th annual fashion show, with Chandra North filling in for Christensen. Their line-up has been changed multiple times over the years and the brand currently lists 11 supermodels on its website, including Rosie Huntington-Whiteley and Chanel Iman. Among other recognitions, the Victoria's Secret Angels were chosen to be part of People Magazine's annual "100 Most Beautiful People in the World" issue in 2007 and became the first trademark awarded a star on the Hollywood Walk of Fame on November 13, 2007.
Other notable spokesmodels for the brand have included: Claudia Schiffer, Eva Herzigová, Ana Hickmann, Oluchi Onweagba, Jessica Stam, Emanuela de Paula, Katsia Zingarevich, Lais Ribeiro, and Toni Garrn. Both Ana Beatriz Barros and Daria Werbowy are known to have turned down an Angel contract.
Note: Most Angels started working with the company years prior to signing an Angel contract. Listed above are the dates of first published or aired campaigns or, by default, first runway show or event.
Faces of PINK
Other models, such as Jessica Stam and Rosie Huntington-Whiteley, as well as numerous celebrities have appeared at events for the brand, such as its Spring Break concerts.
The Wall Street Journal in 1990 wrote that the Victoria Secret catalog whilst controversial had “pioneered sexy underwear as fashion”.
In 2008 Women's Wear Daily reported that whilst "Victoria's Secret dominates" in the lingerie market "the competition is intensifying".
Victoria Secret's operations are organized into three divisions: Victoria's Secret Direct (online and catalog operations), Victoria's Secret Stores (stores), and Victoria's Secret Beauty (their bath and cosmetics line). The company does business in the following retail formats: general merchandise stores, apparel stores.
Victoria's Secret Stores
During the 1990s Victoria's Secret saw a 30% increase in store sales after the use of analyzing in their data warehouse in which specific store the styles, sizes and color of which bras were selling. There are 1,000 Victoria's Secret lingerie stores and 100 independent Victoria's Secret Beauty Stores in the US, mostly in shopping centers. They sell a range of brassieres, panties, hosiery, cosmetics, sleepwear, and other products. Victoria's Secret mails more than 400 million of its catalogs per year.
Map of Victoria's Secret stores in the U.S., as of August 2011.
Victoria's Secret opened stores in Canada in 2010. There are currently 23 stores in Alberta, British Columbia, Ontario, Quebec, and Nova Scotia
In November 2005, the company opened its first boutique in the UK at Heathrow Airport, Terminal 5 with the help of World Duty Free. Victoria's Secret opened their first store located at the Westfield Shopping Centre, Stratford, London on 24 July 2012. Their flagship store on New Bond Street, London. opened on August 29, 2012 and there will be further nationwide expansion across the UK. Victoria's Secret executive vice president and chief administrative officer Martyn R Redgrave told WWD "That's what we're looking to do as we expand, in the U.K. in particular, and those will be company-owned and operated."
In 2012 Victoria Secret's expanded with franchises internationally.
The first franchise store in Latin America is going to be open in Bogota, Colombia, in July 2012 selling beauty products and accessories. Angel's Group, the Colombian company operating the franchise, is planning open 10 stores inColombia.  Victoria's Secret is also planning on opening a store in the exclusive Multiplaza Mall in San Salvador, El Salvador. 
The first Victoria Secret stores outside North America opened in Bahrain, Kuwait and the United Arab Emirates, although these are franchise stores owned and operated by M.H. Alshaya Co primarily offering beauty and branded accessory products.
The Brand’s first Caribbean store opened in November 2011 at Plaza Las Americas in San Juan, Puerto Rico. Two stores will also open in Santo Domingo, Dominican Republic at the Agora (mainly selling beauty products and accessories) and Sambil Santo Domingo malls in August 2012 and October 2012, respectively.
The first Polish store is opening its doors in July 2012 at Złote Tarasy in Warsaw and will be operated by M.H. Alshaya Co. New Victoria's Secrets shop open in July 24, 2012. This will be the first Victoria's Secret franchise store in Europe, just a day before the new store in the United Kingdom. However, as this is a franchise store it sells just beauty and accessories, whereas the London stores are the first company owned European stores and sell Victoria's Secret clothing.
Victoria's Secret Direct
Prior to the emergence of e-commerce, the Victoria's Secret's catalogs provided both an informative and exciting experience in the comfort of the consumer's home. This led to Victoria's Secret dominating the catalog field for "lingerie and sexy nightwear." The catalogs allowed for consumers to review the entire spectrum of product offerings, along the axises of style, color and fabric. Victoria's Secret accepted catalog orders via telephone 24 hours a day.
In 1995 Victoria's Secret began building its e-commercewebsite which the company launched after three years of development on 4th December 1998 using the urlVictoriasSecret.com.  It was reported that the three year development was a result of the company's concern of rolling out a half-baked website that could "discourage return visits". A decade later in 2008 Victoria’s Secret launched their website in Spanish.
After two years of 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.
The company buys organic and fair trade grown cotton, to make some of its panties.
On 4 March 2003 the U.S. Supreme Court ruled against Victoria's Secret in 'Moseley v. V Secret Catalgue, Inc.' that there must be proof of actual harm to the trademark.
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- ^ Savage, David (5 March 2003). "Court says Victor's Secret safe - Lingerie giant fails to sway justices". Chicago Tribune. http://articles.chicagotribune.com/2003-03-05/news/0303050263_1_trademark-dilution-act-brand-famous-mark. Retrieved 12 October 2012.
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