Roy Raymond (businessman)
- Roy Raymond (businessman)
Roy Raymond was an American businessman who started the Victoria's Secret lingerie retail store.
Raymond, alumnus of Stanford Graduate School of Business, 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.[ [http://query.nytimes.com/gst/fullpage.html?res=9F0CEFD9123CF931A3575AC0A965958260 Roy Raymond, 47; Began Victoria's Secret] , NY Times. September 2, 1993.] ]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. [ [http://www.mbajungle.com/magazine.cfm?INC=inc_article.cfm&artid=1303&template=1&date=Feb2001 Case Study: Victoria's Secrets] , Jungle. February 1, 2001.]
In 1984, Raymond started My Child's Destiny, a retail store for children which went bankrupt in 1986.
Roy Raymond was found dead in September 1993 near the Golden Gate Bridge, at the age of 47.
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