(8min.) No just because she's famous and her name is "Victoria" It doesn't mean that she owns it. Ten years before The Social Network I told everyone I met in Brazil the story. In 1982 Jewish businessman Les Wexner persuaded Raymond to sell his company for just $1M, approximately 28x (28M) less than a traditional buyout. As Naomi Barr notes for Huffington Post: "He chose the name 'Victoria' to evoke the propriety and respectability associated with the Victorian era; outwardly refined, Victoria's 'secrets' were hidden beneath.". Also, this was the only home run of an idea that Raymond … They named the company after the Victorian period during which their home was built. Login. Discover what's hot now - from sleepwear and sportswear to beauty products. It went bankrupt in 1986. He’d invested nearly a million dollars of his own money in the business and was made personally liable for all of its debts after never getting it incorporated. He wanted a store where men could feel comfortable buying lingerie, however that business model later became unprofitable and the company was sold. The founder of Victoria’s Secret, Roy Raymond, made millions when he sold the company that he built. Victoria's Secret Founder Kills Himself, Company Uses African KidsTo Pick Cotton For Their Products! ویکتوریا سیکرت (به انگلیسی: Victoria's Secret) طراح، تولیدکننده، بازاریاب و فروشندهٔ لباس زیر زنانه و لوازم آرایشی در آمریکا است که توسط روی ریموند و همسرش گی ریموند در ۱۲ ژوئن ۱۹۷۷ تأسیس شده‌است. In fact, it inspired the idea behind one of the most recognizable and popular brands on the planet: Victoria's Secret. He was 46 years old. It was all about affordability, practicality and reliability. There wasn't a single place where a man could buy lingerie and not be made to feel like a deviant. Wexner succeeded in making lingerie mainstream. Wexner was a businessman himself, also in retail, and quickly recognized what was wrong with Raymond's business. “Our original idea was to have a store where men felt comfortable shopping for lingerie. TIL Victoria's Secret was founded by a man that felt embarrassed when buying lingerie for his wife. By 1995, Victoria's Secret was worth $1.9 billion and had 670 stores across the country. What is not so known about the company is the tragic story of its founder, Roy Raymond. He then split with his wife shortly after losing everything. Stanford MBA Roy Raymond founded Victoria’s Secrets in 1977 with $80k. Victoria’s Secret tried to change that,” says Gaye, Roy’s wife. The entire situation made him feel extremely uncomfortable. It couldn't have come at a more perfect time. Archived. Of course, the selling price was just a fraction of what the company is worth today. In the long-run, however, being too niche can lead to collapse. 2010). The prestigious US investigation included interviews with more than 30 current Victoria's Secret executives, former employees, employees, partners, models and court documents. At the moment, Wexner is worth around $7 billion. But that was nothing compared to the billions that he could have earned had he stuck it out and not let it go. He completely revamped the catalogue, hiring gorgeous and elegant models to grace the pages. It's incredibly sad that Raymond ended up killing himself. Posted by 3 years ago. Ultimately, Wexner saw Victoria's Secret's potential and bought the business from Raymond for $1 million in 1982. ↑ 7,0 7,1 Barr, Naomi (30. Mr Raymond threw himself off San Francisco’s Golden Gate Bridge in August 1993. It all began when Roy went shopping for me, and felt out of place in a lingerie store. The founder of Victoria's Secret was a man named Roy Raymond. In its first year, Victoria's Secret earned $500,000. 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