London: Every November in New York, fantasy becomes reality when several of the world’s most beautiful women take to the catwalk in stunning lingerie for the famous Victoria’s Secret Fashion Show.
The most gloriously over-the-top occasion in the fashion calendar sees ‘Angels’ including Miranda Kerr showcase unique, diamond-studded confections, complete with wings.
The £8 million show, which is televised in America and watched later on YouTube by millions of men unlucky enough to live elsewhere, has ensured the brand’s name is synonymous with glamour and sex appeal.
Yet it is a phenomenon British women have been unable to participate in – until now.
This autumn, the first Victoria’s Secret shops will open here, one in the new Westfield shopping centre in Stratford, East London, and a large flagship store in the West End’s New Bond Street.
But while the brand’s glittering success is well known, far less so is the tragic story behind its creation.
It was the brainchild of Californian business graduate Roy Raymond, who was inspired by an embarrassing shopping trip for underwear for his wife.
As the label took over America, he lost it all, having sold the business before it reached its peak.
For would-be entrepreneurs in the US, Mr Raymond’s tale is a cautionary one. He is referred to in the hit film The Social Network as a symbol of the dangers of failing to understand the potential of an idea.
He was unable to recreate his early success with other projects, and according to his former wife, Gaye, he could not cope, developing depression and eventually taking his own life.
The Raymonds opened their first shop in Palo Alto in northern California in 1977, naming it after the period of the house they were living in at the time.
‘Our original idea was to have a store where men felt comfortable shopping for lingerie. It all began when Roy went shopping for me, and felt out of place in a lingerie store. Victoria’s Secret tried to change that,’ says Gaye, now 65 and an associate professor of physical therapy at Samuel Merritt University in Oakland, California.
‘The Victoria’s Secret we founded was an upscale sophisticated lingerie store that I designed to look like a Victorian drawing room, complete with Oriental rugs and antique armoires displaying the wares.
‘I remember making the velvet curtains for the first changing rooms. We used a lot of silk and natural fibres in our lingerie, and it was very high quality.’
They had five successful shops by 1982, when they sold the operation for £2.6 million to Leslie Wexner, the billionaire founder of The Limited clothing chain. ‘My husband Roy had spoken to Les Wexner a few times about working together, but ultimately Roy felt he couldn’t share decision-making, and was happier getting out completely,’ says Gaye.
He began a new business called My Child’s Destiny, a shop selling children’s products, but in 1986 it went bankrupt. He invested more than £650,000 of his own money into the business and never incorporated it, which meant that when it went under he was personally liable for its debts. The couple lost two homes and their cars
Anguished but determined to recapture his initial success, he poured his energy into one idea after another, starting with a children’s book shop.
Roy and Gaye divorced in 1993, by which time Victoria’s Secret had become the biggest US lingerie retailer. Roy tried another venture: a mail-order home-repair hardware business. It failed in a year. He also began working for a company that made wigs for women who had lost their hair due to cancer treatment.
‘He went through a couple of business failures and I think he suffered depression,’ says Gaye. ‘He borrowed a lot of money from his mother. He was trying to start another company but things didn’t go well, and he saw only one way out.
‘It’s so sad, because he was young, creative, really a brilliant businessman, but he suffered setbacks and couldn’t seem to bounce back from them. He felt he couldn’t go on.’
Mr Raymond threw himself off San Francisco’s Golden Gate Bridge in August 1993. He was 46 years old.
The brand has changed dramatically since it was created by the Raymonds. ‘It’s no longer high-end fashion focused on fit, quality and fibre, but it’s now more popular, with a lower price and aimed at a far younger crowd,’ says Gaye.
‘Roy and I used to have our regrets about how much it had changed from our original vision. Yet they’ve done a great job making it a commercial success.’
The launch of the catwalk shows in 1995 made the brand iconic. Originally, the ‘Runway Angels’ were established supermodels, including Helena Christensen and Tyra Banks, but today Angel status is a career-maker. More recent Angels include Rosie Huntington-Whiteley, Adriana Lima, Marisa Miller and Alessandra Ambrosio.
The shows are spectacular. Last year, Miranda Kerr sashayed down the catwalk wearing a £1.6 million Fantasy Treasure Bra, encrusted with yellow diamonds and pearls, to a standing ovation from her husband, actor Orlando Bloom. Rappers Kanye West and Jay-Z performed.
Adriana Lima, whose pre-show regime involves consuming only liquid protein for nine days, has said: ‘Becoming an Angel was a dream come true. It opens up so many doors – everyone knows your name.’
The event has been accused of rampant commercialism. In 2002, women’s groups described it as a ‘soft-core porn infomercial’, and commentators have questioned whether its frequent use of models who have recently given birth – including Kerr and Doutzen Kroes – is a ploy to garner more column inches.
Yet as a brand-building enterprise, Victoria’s Secret has been one of the most successful ever. There are now more than 1,000 stores in the US as well as branches in Canada, the Middle East and the Caribbean.
Frances Harder, president of the Fashion Business Institute in Los Angeles, who previously designed lingerie for the label, says: ‘Victoria’s Secret is a very good branding story. They bring quality and sex appeal without being tacky.’
The brand’s fame means that when Victoria’s Secret arrives in Britain, where until now it has been available only from a small concession at Heathrow Airport, it will have a ready-made audience.
In the past few years, the British underwear market has grown exponentially. It is now worth £3.4 billion, with women spending an average of £71 a year on lingerie – more than the French.
The nation’s current bestselling single line is Elle Macpherson Intimates, which specialises in pretty, flirtatious styles.
‘Victoria’s Secret is a winning combination of sex, fantasy and fashion,’ says Sarah Harris, fashion features editor of Vogue UK. ‘There’s huge potential for it to be a hit here because there’s a strong demand from British women for glamorous lingerie.’
Following the demise of La Senza last year, there is a gap in the British market for a youthful, glamorous label with its own shops, rather than sold in department stores.
‘I can see Victoria’s Secret doing very well in Britain,’ says Honor Westnedge, retail analyst at Verdict. ‘By opening a shop in New Bond Street, they’re aiming towards the premium end of the market, and I imagine they’ll raise their prices accordingly. The success of Calvin Klein and Elle Macpherson Intimates shows women are prepared to pay more for quality.’
The launch of the flagship London store is expected to be attended by several Angels, who will appear in yet another catwalk extravaganza.
Judging by the success of the brand so far, British women will soon not be able to remember a time when they didn’t buy their underwear from their local Victoria’s Secret store.
# Source: The Daily Mail, By Polly Dunbar and Peter Sheridan
