The rise and fall of a brand for women that was created by men.
The following article is a written adaptation of an, Slate’s new podcast about companies in the news and how they got there.
Within a decade of taking it over, Wexner had Victoria’s Secret raking in more than a billion dollars in annual sales. Its stores were everywhere. Its hit products, like the push-up “Miracle Bra” of the early 1990s, seemed perfectly attuned to the zeitgeist. Millions of Victoria’s Secret catalogs flew into mailboxes across the country. The Victoria’s Secret Fashion Show debuted in 1995 and evolved into a global media event.
A few years later, Rihanna launched a brand that put a very pregnant model in its lingerie fashion show. Some brands were using transgender models, older models, plus-size models. But Victoria’s Secret had built a $7 billion business around a very specific kind of fantasy: supermodels, glamour shots, angel wings, and diamond-studded bras. It was not about to throw all that away.
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