Roy Raymond
Net Worth 2024, Height, Wiki, Age, Bio

 Roy Raymond facts

• Raymond was an alumnus of Tufts University and Stanford Graduate School of Business
• Raymond worked for the Vicks company in their marketing department
• On June 12, 1977 , 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
• 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 about $1 million
• By the early 1990s, Victoria's Secret had become the largest American lingerie retailer, topping $1 billion
• In 1984, Raymond personally invested £650,000 to start My Child's Destiny
• The business sold high-end children's products in a single store in San Francisco and through mail order catalogues