Founding and Original Ownership Structure
Victoria's Secret was founded in 1977 by Roy Raymond, who created the brand to offer lingerie in a comfortable retail environment. The original owner, Roy Raymond, launched the first store in Stanford Shopping Center in California with the goal of making men feel less embarrassed buying lingerie. The company grew quickly under his ownership before financial pressures led to a sale in the early 1980s.
In 1982, Roy Raymond sold Victoria's Secret to the Limited Inc., a retail conglomerate led by Leslie Wexner. This acquisition made Victoria's Secret a subsidiary of The Limited Brands portfolio, which later became L Brands. The deal marked the beginning of the brand's transformation from a small boutique concept into a dominant lingerie chain.
Corporate Evolution and Ownership Changes
Under L Brands, Victoria's Secret expanded rapidly through the 1990s and 2000s, becoming the largest lingerie retailer in the United States. The company launched the Victoria's Secret Fashion Show, which aired on television and became a major cultural event. The brand's market position strengthened as L Brands focused on expanding both physical stores and online channels.
In 2020, L Brands announced the separation of Victoria's Secret into an independent public company, with the brand receiving a dedicated ticker symbol. The move was designed to allow investors to value Victoria's Secret separately from the remaining L Brands operations, which included Bath & Body Works. This corporate restructuring clarified the ownership chain and gave Victoria's Secret a distinct public market identity.
Current Parent Company and Ownership Status
Victoria's Secret is currently owned by Victoria's Secret & Co., which operates as a standalone publicly traded company following its spin-off from L Brands. The company's ownership structure includes institutional investors, public shareholders, and a board of directors overseeing strategy. The brand continues to operate hundreds of stores across the United States and international markets.
For detailed financial data and corporate filings, you can review the company's latest reports on the SEC website and recent coverage from Forbes regarding retail ownership trends. Additional information on the brand's history and current operations is available through Victoria's Secret official corporate resources.