Who Was the Founder of Victoria's Secret
Roy Raymond co-founded Victoria's Secret in 1977 with his wife, Gaye Raymond, aiming to create a comfortable, non-embarrassing shopping environment for lingerie. The first store opened in Stanford Shopping Center in Palo Alto, California, targeting men who felt awkward buying intimate apparel in traditional women's stores. The brand quickly gained attention for its upscale positioning and catalog marketing model. Raymond later sold a controlling stake to Wexner Properties, which was controlled by Les Wexner, the founder of Limited Brands (now L Brands). The transaction marked a turning point in the company's growth trajectory and eventual expansion into a global retail chain. Learn more about the early history of Victoria's Secret.
Circumstances of Roy Raymond's Death
Roy Raymond died by suicide on August 26, 1993, at the age of 46. He was found at the San Francisco–Oakland Bay Bridge, and his death was ruled a suicide by drowning. Raymond had been struggling with depression and financial pressures following the sale of Victoria's Secret. His death shocked the retail and business communities, where he was remembered as an innovative entrepreneur who disrupted the intimate apparel market. The circumstances highlighted the intense personal toll that high-stakes entrepreneurship and brand-building can exact, even on individuals who achieve significant commercial success. Read the New York Times obituary for Roy Raymond.
Victoria's Secret After the Founder
After Roy Raymond's death, Victoria's Secret continued to expand under the ownership of Les Wexner and L Brands. The company grew into a dominant lingerie retailer, known for its annual fashion shows and supermodel campaigns. Victoria's Secret filed for an initial public offering in 1995, raising capital to fuel domestic and international store expansion. The brand later faced challenges from shifting consumer preferences toward comfort-focused and inclusive sizing, prompting strategic pivots in marketing and product lines. In 2020, L Brands announced the sale of a majority stake in Victoria's Secret to a consortium led by Sycamore Partners, marking a significant ownership change in the company's history. View SEC filings related to Victoria's Secret ownership changes.