Victoria's Secret was founded by Roy and Gaye Raymond on June 12, 1977. The first store opened in Palo Alto, California, aiming to provide a comfortable shopping experience for men buying lingerie.

In July 1982, under Leslie Wexner's leadership, Limited Brands acquired Victoria's Secret's six stores and its catalog for $1 million.

In 1983, Leslie Wexner took over Victoria's Secret and shifted the focus to female buyers by introducing new colors, prints, and styles to make the lingerie more fancy and glamorous. This strategy change led to the brand's success and expansion into malls across the United States.

In 1984, Roy Raymond left Victoria's Secret and founded a high-end children's retail store and catalog. However, the venture failed within a couple of years, leading Raymond to file for bankruptcy.

In 1985, Howard Gross became president of Victoria's Secret.

Les Wexner, the founder of Victoria's Secret, reportedly had direct ties with American sex offender and pedophile Jeffrey Epstein, whom he met around 1986. Wexner gave Epstein attorney powers and allowed him to stay in his property known as 'Wexner Xanadu' in Ohio.

In 1990, analysts estimated that Victoria's Secret sales had quadrupled in four years, making it one of the fastest growing mail-order businesses.

In the early 1990s, Victoria's Secret experienced quality problems with their products and was working to resolve the issues.

In 1993, Roy Raymond tragically committed suicide by jumping off the Golden Gate Bridge. This event marked a tragic end to the life of the former Victoria's Secret founder.

The iconic Victoria's Secret Fashion Show was launched in 1995 under the leadership of Bath & Body Works, Inc., becoming a cultural phenomenon and transforming the brand into a symbol of glamour and fashion.

Victoria's Secret presented its spring lingerie collection in New York on February 6, 1996.

In 1997, the idea of the Victoria's Secret 'Angel' was introduced after a commercial featuring Helena Christensen, Karen Mulder, Daniela Peštová, Stephanie Seymour, and Tyra Banks promoted the 'Angels' underwear collection.

By 1998, Victoria's Secret's market share of the intimate apparel market was 14 percent, and the company also entered the cosmetic market.

In 1999, the show aired for the first time online, attracting 1.5 million viewers and causing the site to crash. Time magazine referred to it as an 'internet-breaking moment' of that era.

In 2000, model Gisele Bündchen walked the Victoria's Secret runway wearing the most expensive item of lingerie ever created, a $15 million diamond-and-ruby-encrusted 'Fantasy Bra.'

On October 16, 2002, Victoria's Secret announced the launch of Pink, a new lingerie line targeting 15-to-22 year olds. Pink included underwear, sleepwear, loungewear, beauty products, and accessories, focusing on teenage customs.

In 2004, Victoria's Secret did not hold a fashion show due to fallout from the Super Bowl XXXVIII halftime show controversy, instead opting for a tour called Angels Across America.

In 2005, the name of Victoria's Secret Stores, Inc. was revised to Victoria's Secret Stores, LLC.

In 2006, Sharen Jester Turney was appointed as the CEO of the entire Victoria's Secret brand, leading to a significant growth in sales during her nine-year tenure.

On November 13, 2007, the Victoria's Secret Angels became the first trademark to be awarded a star on the Hollywood Walk of Fame.

In 2009, Victoria's Secret held a nationwide competition for a new Runway Angel, with Kylie Bisutti emerging as the winner but later parting ways with the brand.

During the 2010 Victoria's Secret Fashion Show, the 'Wild Things' segment sparked controversy for its 'tribal style' outfits, particularly the outfit worn by Afro-Brazilian model Emanuela De Paula. The outfit was criticized for appropriating African culture and using racist connotations.

In 2012, Victoria's Secret faced criticism for cultural stereotypes in their collections, including the 'Go East' lingerie line inspired by Japanese gardens and the 'Calendar Girls' segment featuring a Native American headdress. The brand received backlash for perpetuating racial stereotypes.

In 2013, the parent company Limited Brands underwent a name change and became known as L Brands.

By 2014, Victoria's Secret had become the most popular apparel brand in the world, with annual revenues close to $5 billion.

In April 2016, Victoria's Secret announced the end of their swimwear line, along with apparel, shoes, and accessories, to be replaced by a new activewear line.

In September 2016, Jan Singer was appointed as the CEO of Victoria's Secret Lingerie after previously serving at Nike and as the CEO of Spanx.

Sales for Victoria's Secret continued to drop in 2017, indicating a sustained downward trend for the company.

In November 2018, Ed Razek, the marketing chief of Victoria's Secret, sparked outrage by making controversial remarks about transgender and plus-size models, stating that they should not be featured in the Victoria's Secret Fashion Show.

Victoria's Secret officially canceled its runway fashion show for the year 2019, after Wexner mentioned in May that the company was reconsidering the show.

On February 1, 2020, The New York Times published an exposé on misogyny at Victoria's Secret, highlighting sexual misconduct. The company also announced a sale to Sycamore Partners.

On April 22, 2020, The Wall Street Journal reported that the sale deal with Sycamore Partners fell through. Lex Wexner stepped down but remained as chairman emeritus.

On May 4, 2020, L Brands officially declared that the agreement with Sycamore had collapsed, leading to the end of the deal.

Victoria's Secret, once a leading brand globally, is facing a decline with store closures worldwide and financial struggles leading to the brink of bankruptcy.

The Internet is redefining what sexy means, replacing Victoria's Secret with body-positive lingerie.

On August 3, 2021, Victoria's Secret was spun off by L Brands to become an independent business, trading on the NYSE as VSCO. The brand reported sales increase in 2021.

Bella Hadid had already criticized the brand for its weight and size policies.

Emira D'Spain makes history as the first Black transgender model to collaborate with Victoria's Secret.

James Hardy's article 'From Concept to Catwalk: Who Invented Victoria’s Secret Uncovered' was published on History Cooperative's website on January 22, 2024.