Founded by Roy and Gaye Raymond, Victoria’s Secret grew, although slowly, over its first five years. In 1982, when the Raymonds sold it to Leslie Wexner, the business consisted of five lingerie stores. Wexner aggressively expanded it, and by the early nineties, there were 350 stores, many of them in malls, and the company’s annual turnover had grown to over a billion dollars.
However, the company has struggled in recent years, due to changing consumer tastes and a run of bad publicity. Such as this song:
