Roy Raymond (businessman)

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Roy Raymond
Born Roy Larson Raymond[1]
(1947-04-15)April 15, 1947
Connecticut, USA[1]
Died August 26, 1993(1993-08-26) (aged 46)
Marin County, California, USA[1]
Occupation Businessman
Known for Founder of Victoria's Secret
Children 2

Roy Larson Raymond (April 15, 1947 – August 26, 1993)[1] was an American businessman, who founded the Victoria's Secret lingerie retail store.[2]

Raymond was an alumnus of Tufts University and Stanford Graduate School of Business.

Raymond worked for the Vicks company in their marketing department.[3]

On June 12, 1977,[2] he opened the first Victoria's Secret store at the Stanford Shopping Center after feeling embarrassed trying to purchase lingerie for his wife in an awkward, public 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 in its first year. He quickly started a mail order catalog and opened three more stores.[4]

In 1982, after five years of operation, 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 $1 million.[5][6] By the early 1990s, Victoria's Secret had become the largest American lingerie retailer, topping $1 billion. In FY 2009, Victoria's Secret was worth over USD $5 billion.

In 1984, Raymond started My Child's Destiny, a retail store for children, that went bankrupt in 1986.[4]

On August 26, 1993, Raymond committed suicide by leaping off the Golden Gate Bridge at the age of 46.[4][7]

In popular culture[edit]

In the 2010 film The Social Network, Raymond is referenced by Sean Parker in order to persuade Mark Zuckerberg not to sell his company.

References[edit]

  1. ^ a b c d California Deaths, 1940 - 1997,Roy Larson Raymond – Birth Date: 04/15/1947, Death Date: 08/26/1993, Birth Place: Connecticut, Death Place: Marin (County)
  2. ^ a b "Victoria's Secret". Fashion Model Directory. Retrieved 27 November 2013. 
  3. ^ Susan Faludi (15 August 2006). Backlash: The Undeclared War Against American Women. Random House Digital, Inc. p. 202. ISBN 978-0-307-34542-4. Retrieved 25 October 2012. 
  4. ^ a b c "Roy Raymond, 47; Began Victoria's Secret". New York Times. 2 September 1993. Retrieved 14 October 2012. 
  5. ^ "About Us." Limited Brands Timeline. Web. 24 Apr. 2013.
  6. ^ McGinn, Dan (1 February 2001). "Case Study: Victoria's Secrets". Jungle Magazine. Archived from the original on March 27, 2002. 
  7. ^ Bonander, Ross (Dec 2, 2009). "5 Things You Didn't know: Victoria's Secret". AskMen.com. Retrieved 2 December 2009.