Who Owns Victoria's Secret?

Victoria's Secret was founded in 1977 by Roy Raymond as a lingerie retailer in San Francisco, California. The brand launched with the vision of providing quality lingerie to women in a comfortable shopping environment. Victoria's Secret quickly gained popularity, establishing itself as a leading lingerie brand.

In 1982, Limited Brands (later renamed L Brands) acquired Victoria's Secret, recognizing its potential as a major fashion brand. Under L Brands' ownership, Victoria's Secret expanded rapidly, establishing retail stores across the United States and internationally. The brand became one of the world's largest lingerie retailers.

Throughout the 1990s and 2000s, Victoria's Secret expanded its product offerings to include fashion, beauty, and accessories. The brand launched the famous Victoria's Secret Fashion Show, becoming a major marketing and entertainment event. Victoria's Secret became a cultural icon and global fashion brand.

Victoria's Secret expanded internationally, establishing operations in multiple countries and regions. The brand invested in e-commerce, digital marketing, and customer experience. Victoria's Secret became one of the world's largest lingerie and fashion brands.

In August 2021, L Brands completed the spinoff of Victoria's Secret & Co. as an independent publicly traded company on the NYSE (VSCO), with Bath & Body Works remaining as the renamed L Brands entity. As an independent company, Victoria's Secret has invested in modernization, inclusivity, and international expansion. In Q3 2025, the company reported net sales up 9.2% to $1.47 billion, with international business delivering a third consecutive quarter of double-digit retail sales growth, particularly strong in China.