Victoria Secret

Victoria’s Secret

Organizational Behavior

Interview & Research

Wilmington University

Shaqoia Mejias

Abstract

On April 1, 2014 I conducted two interviews with managers of Victoria’s Secret. Victoria’s Secret is where I currently work part-time as sales associate. I interviewed Gardenia Stern, the store manager, and Natalie Wamba, the product manager. In the interviewed I asked questions regarding Victoria’s Secret the company, the brand and marketing strategies. I asked questions regarding the history, the environment and values of the company. Within my paper is all my findings from interviews and research.

Victoria’s Secret the Company

Victoria's Secret is the largest American retailer of lingerie and was founded by Roy Raymond in 1977. 2012 sales were $6.12 billion with an operating income of $1 billion. The company sells lingerie, apparel and beauty products through its catalogs (sending out 375 million a year), website, and its U.S. stores. Victoria's Secret is wholly owned by publicly traded Limited Brands company (Parsley, 2012).

Victoria's Secret grossed $500,000 in its first year of business, enough to finance the expansion from a headquarters and warehouse to four new store locations and a mail-order operation. By 1980, Raymond had added two stores at 2246 Union Street and 115 Wisconsin Street. By 1982, the fourth store was added at 395 Sutter Street. In April 1982, Raymond sent out his 12th catalogue; each catalogue cost $3. Catalogue sales now accounted for 55% of the company's $7 million annual sales (Parsley, 2012). The Victoria's Secret stores at this time were "a niche player" in the underwear market. The business was described as "more burlesque than Main Street." Raymond's philosophy of focusing on selling lingerie to male customers became increasingly unprofitable and Victoria's Secret headed for bankruptcy (Parsley, 2012). In 1982, it had grown to six stores, a 42-page catalogue, and was grossing $6 million annually. Raymond...