Leslie Wexner acquired Victoria’s Secret in 1982, helping transform it into a major national retailer.
At the time, Victoria’s Secret was a small lingerie company founded by Roy and Gaye Raymond in San Francisco. Wexner, who already operated The Limited, purchased the business and expanded its stores, catalog, and product range.
Under Wexner’s leadership, the company developed a distinctive retail identity built around accessible luxury, coordinated lingerie collections, and highly stylized marketing. The brand’s growth later made it the best-known lingerie retailer in the United States.
A common mix-up is confusing the company’s founder, Roy Raymond, with Wexner, who became its owner and controlling business figure. Wexner later led the company through its corporate relationship with The Limited and L Brands.