Who is victorias secret named after

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If you don't get the confirmation within 10 minutes, please check your spam folder. Related Stories. Already a print subscriber? Go here to link your subscription. Need help? And Victoria's Secret model Shanina Shaik — who has walked in several of its fashion shows — told The Daily Telegraph in Australia in July that the annual show was off this year. Epstein managed Wexner's money for several years, and former company executives told the Wall Street Journal that he tried to meddle in Victoria's Secret's business, offering input on which women should be models.

Some of Epstein's victims came forward saying that he used his connection to Victoria's Secret to coerce them into sexual acts. L Brands' board of directors announced that it had hired an outside law firm to review its relationship with Epstein. But that is in the past. Read more: Former employees reveal what the billionaire head of Victoria's Secret is like as a boss as he faces backlash over his ties to Jeffrey Epstein. In a statement to the press announcing the news, Wexner said that Sycamore has "deep experience in the retail industry and a superior track record of success," and that it "will bring a fresh perspective and greater focus to the business.

At the end of April , Sycamore filed a lawsuit to back out of the deal , alleging that Victoria's Secret's actions taken during the pandemic to close stores, cut back on new inventory, and not pay rent for the month of April were in violation of the agreement that the two parties had made in February. L Brands immediately issued a statement saying that a termination of the agreement is "invalid," and that it would "vigorously defend" the lawsuit and "pursue all legal remedies to enforce its contractual rights.

L Brands said that it had come to a "mutual agreement" with Sycamore to "terminate" the deal. The company also said that it had reshuffled its management team and would focus on "implementing significant cost reduction actions and performance improvements at Victoria's Secret. Jefferies analysts described Victoria's Secret's progress as "admirable," after it reported strong fourth-quarter results in early But in May, L Brands put an end to speculation and said that it was no longer looking for a buyer and would split the company in two and spin-off Victoria's Secret to become a standalone company.

Read more: Victoria's Secret is experiencing a major comeback after years of declining sales — and Wall Street is salivating. For you. World globe An icon of the world globe, indicating different international options. Get the Insider App. Click here to learn more. A leading-edge research firm focused on digital transformation. Good Subscriber Account active since Shortcuts. Account icon An icon in the shape of a person's head and shoulders. It often indicates a user profile.

Log out. US Markets Loading H M S In the news. Mary Hanbury. Victoria's Secret is the largest lingerie retailer in the US, and has been for several decades. It achieved explosive success in the late s and s but has been accused of losing relevance in recent years. The company is currently overhauling its brand image, and has abandoned its Angels for activists and entrepreneurs. Here's the story of the rise, fall, and subsequent comeback of the brand. Visit Business Insider's homepage for more stories.

Victoria's Secret was founded in by American businessman Roy Raymond. He named the brand after the Victorian era in England, wanting to evoke the refinement of this period in his lingerie. It was at this point that Les Wexner swooped in. Wexner turned Raymond's vision on its head, creating a store that was focused on women rather than men. And it worked. This would be Leslie Wexner, an entrepreneur who could be considered one of the fathers of sportswear. When he was 20 years old, Wexner noticed that women were looking for more casual clothes and in he opened a store called The Limited.

Wexner saw an opportunity in Victoria's Secret to expand into new brands. However, as he himself told Newsweek magazine in , he noticed that something was wrong with the lingerie brand's business model: It was not attracting women.

The entrepreneur saw the potential and in bought the brand from Raymond for a million dollars. And to give the steering wheel and precisely attract women to Victoria's Secret stores, he studied European lingerie boutiques. Also, she thought that the lingerie from this company should be stylish but affordable so that women would want to wear it every day.

As Silverstein and Fiske write, Wexner realized the most important thing: Women wanted to achieve a glamorous fantasy, even if they couldn't afford high-end brands. He transformed the stores to make them more elegant with gold tones and perfume bottles with lights in warm tones. Wexner found the point of equilibrium: women went to the stores and men kept looking at the catalog. Sadly, the father of the brand Roy Raymond remained as president of the company for just one more year after selling it to Wexner and then resigned to found My Child's Destiny, a high-end catalog and retail company for children.

But as a New York Times article reported, poor planning forced him to file for bankruptcy in Raymond's life ended up falling apart when he divorced. Raymond recognized a market need to create the brand and Wexner had the vision to grow it. Albert Santalo.

Scott Bartnick. Steve Taplin.