Who Was Roy Raymond and What Is Victoria Secret
Roy Raymond founded Victoria Secret in 1977 to create a comfortable shopping environment for lingerie. The brand grew into a major American retailer known for its fashion shows and supermodel campaigns. Raymond sold the company to Leslie Wexner and L Brands in 1982, shortly after its launch. Forbes has covered the brand's evolution from a single store to a global retail chain.
The company expanded rapidly through the 1980s and 1990s, becoming a dominant player in intimate apparel. Victoria Secret's parent company, L Brands, listed on the NYSE under the ticker LB. The brand's market value peaked during the height of its fashion show popularity. SEC filings from L Brands detail the company's financial structure and historical performance.
What Happened to Roy Raymond After the Sale
Roy Raymond sold Victoria Secret for an estimated $1 million in 1982. He later launched other retail ventures, including the brand My Bare Lady. Those businesses did not achieve the same level of commercial success as Victoria Secret. Bloomberg reported on the subsequent restructuring of L Brands and the brand's shifting strategy.
Public records indicate Raymond struggled with depression and financial pressures after the sale. He died by suicide in 1993 at the age of 46. His death brought renewed attention to the personal toll of entrepreneurship and business failure. The case is often cited in discussions about founder mental health and the risks of rapid exits.
Victoria Secret's Decline and Current Market Position
Victoria Secret faced declining sales and changing consumer preferences in the 2010s. The brand canceled its annual fashion show in 2019 after years of falling viewership. L Brands spun off Victoria Secret as a separate public company in 2021. CNBC reported on the restructuring and stock performance of Victoria Secret and L Brands.
The company filed for bankruptcy protection in 2020 and again faced financial restructuring in 2024. Victoria Secret operates fewer physical stores than at its peak and has shifted toward digital and off-price retail. The brand remains a notable case study in retail decline and brand reinvention.