Roy Raymond (businessman)

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Not to be confused with Roy Raymond in DC Comics.

Roy Raymond was an American businessman who started the Victoria's Secret lingerie retail store.

Raymond, almunus of Stanford Graduate School of Buisness, opened the first Victoria's Secret store at the Stanford Shopping Center after feeling embarrassed trying to purchase lingerie for his wife in public and awkward department store environment. To open the store, he took a $40,000 bank loan and borrowed $40,000 from relatives. The company earned $500,000 its first year. He quickly started a mail order catalog and opened 3 other stores.[1]

In 1982, after 5 years of operations, Roy Raymond sold the Victoria's Secret company, with its six stores and 42-page catalogue, grossing $6 million per year, to Leslie Wexner creator of The Limited for $4 million. [2]

In 1984, Raymond started My Child's Destiny, a retail store for children which went bankrupt in 1986.

Roy Raymond committed suicide in September 1993 jumping off the Golden Gate Bridge, at the age of 47.[1]

[edit] References

  1. ^ a b Roy Raymond, 47; Began Victoria's Secret, NY Times. September 2, 1993.
  2. ^ Case Study: Victoria's Secrets, Jungle. February 1, 2001.