Who Founded Victoria's Secret
Victoria's Secret was founded by Roy Raymond, a man, in 1977. He created the brand to provide a comfortable shopping environment for men purchasing lingerie as gifts. Raymond opened the first store in Stanford Shopping Center, California, and later built the company into a national retail chain focused on intimate apparel and fashion. Read more about the early history of Victoria's Secret.
Raymond sold Victoria's Secret to Limited Brands in 1982. The transaction marked the transition from a founder-led boutique to a larger corporate structure. Limited Brands later renamed itself L Brands, and the brand became the centerpiece of a dedicated lingerie division. Ownership shifted from a single male founder to institutional and public shareholders over the following decades.
Current Ownership and Leadership
Victoria's Secret is currently controlled by Sycamore Partners through its ownership of L Brands. The brand operates as a subsidiary within a larger portfolio of retail and consumer brands. Sycamore Partners is a private equity firm led by male and female executives, with Marc Lasry as a co-founder and senior managing partner. View L Brands SEC filings for ownership details.
L Brands was taken private by Sycamore Partners in a deal completed in 2023. The transaction removed the company from public stock exchanges and centralized decision-making. Under this structure, the founder identity has shifted from Roy Raymond to the private equity firm and its management team. The brand continues to operate under a licensed and managed model with centralized corporate oversight.
Key Facts About the Founder and Brand
Roy Raymond, the original founder, was a man who identified a gap in retail for men buying lingerie. He built the brand around discretion, comfort, and a non-intimidating shopping experience. The company grew rapidly under his initial leadership before being sold to a larger corporate entity. His founding role remains a documented fact in retail and business history.
Today, Victoria's Secret is managed by a professional executive team and private equity owners rather than its original founder. The brand operates hundreds of stores and a significant e-commerce platform. Ownership, strategy, and branding decisions are driven by Sycamore Partners and L Brands leadership, not by Roy Raymond. Forbes coverage of Victoria's Secret ownership and restructuring.