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Victoria's Secret Branch Essay

348 words - 2 pages

The show's arrival in the capital suggests the underwear empire is continuing its focus to expand beyond the US.

But how did the American company grow into one of the most-talked-about brands today?

The story of Victoria’s Secret starts in the 1970s, when 30-year-old business graduate Roy Raymond wanted to buy some lingerie for his wife.

Walking into a department store, he found the experience an embarrassing one and decided there was a gap in the market for a high end store that would cater for ...view middle of the document...

[pic]Lucas Jackson/ReutersModels dance during the finale of the annual Victoria's Secret Fashion Show in New York, November 13, 2013.

The company earned $500,000 its first year. And by the time Mr Raymond sold the business in 1982 for about $1m, Victoria’s Secret had five stores and a mail-order catalogue that made $6m a year.

By the early 1990s, Victoria’s Secret had become the largest American lingerie retailer, with 350 stores and sales topping in excess of $1bn.

However, it was struggling to compete with lower-priced brands and owner Leslie Wexner, creator of The Limited clothing business, needed something radical to take the brand to the next level.

The breakthrough came in 1995, when the brand launched the first of its notorious Victoria’s Secret fashion shows.

A relatively traditional affair, with models wearing simple lingerie, it wasn’t until three years later that angel wings appeared on the runway modelled by Tyra Banks.

By 2000, the shows began to take a lavish turn and the $15m price tag for the ruby and diamond encrusted bra worn by supermodel Gisele Bündchen was then the most expensive item of lingerie ever created.

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