Victoria's Secret is the leading lingerie specialty retailer operating over 1,000 stores across the US. Their advertising campaigns, including the Victoria's Secret Catalog and Victoria's Secret Fashion Show, are visually appealing and controversial. The attention that Victoria's Secret is getting for their aggressive advertising campaigns has generated priceless word of mouth and media bytes to further strengthen the Victoria's Secret brand.
Victoria's Secret sales in 2003 were a reported $ 2.822 million across 1,009 stores. Square foot sales were 4,735,000, which equates to average sales per square foot of about $ 600, an increase of nearly 3% from the previous year. Overall, the same store's sales increased by almost 4% from the previous year.
A Brief History of Victoria's Secret
Victoria's Secret was founded in San Francisco in the early 1970s by Roy Raymond. The concept was to create a cozy, inviting atmosphere similar to that of a Victorian boudouir. Roy's Victoria's Secret, consisting of three stores and a catalog company, was acquired by Limited Brands in 1982. Many mistakenly believe that Victoria's Secret was of British heritage. An image that some say was perpetuated by its parent company.
Today, Victoria's Secret lingerie is the top player of the congolomerate. Victoria's Secret, under Limited Brands, has a history of being sexy, youthful and romantic. Men and women have come to recognize Victoria's Secret as the place to buy a lingerie or perfume gift. Together, these three launch vehicles, combined with Victoria's Secret aggressive marketing, have made Victoria's Secret the best-known lingerie brand and brought more attention to the lingerie industry.
Much of Victoria's Secret's success is attributed to Grace Nichols. Nichols joined Victoria's Secret in 1986 as vice president, general merchandise manager. In 1988 she was promoted to executive vice president. In 1991, Mrs. Nichols was named President and CEO of Victoria's Secret. Under Nichols's leadership, Victoria's Secret has become one of the top 10 recognized brands in the world and the leading specialty retailer of lingerie.
Victoria's Secret's phenomenal success has generated a lot of revenue growth and controversy. Victoria's Secret Fashion Shows, Victoria Secret Catalogs and Victoria Secret models have become more revealing, voluptuous and controversial.