Victoria's Secret is an American model, manufacturer, and marketer of women's lingerie, womenswear, and makeup products. With an annual launch and televised runway show showcasing "angels" that lasted until 2018, the company is best known for its high-profile advertisements. Originally created in 1977 by Roy and Gaye Raymond as a response to bundled underwear, which Roy Raymond called "hideous, floral-printed nylon nightgowns." Les Wexner obtained Victoria's Secret in 1982 and rapidly spread their activities into shopping centres around the US and abroad. As of early 2019, Victoria's Secret was the top lingerie retailer in the USA. In February 2020, L Brands sold Victoria's Secret to private equity company Sycamore Partners while retaining a majority interest in the business. Victoria's Secret was founded by Roy Raymond and his wife, Gaye Raymond, on 12 June 1977 in San Francisco, California. Eight years before Victoria's Secret was produced, Raymond was embarrassed in the late 1960s when he bought lingerie for his wife at a department store. Raymond studied the lingerie industry for the next eight years. Around the time when Raymond founded Victoria's Secret, America's undergarments industry was dominated by conservative and uninspired brands like Fruit of the Loom, Hanes and Jockey, often sold in packs of three in retail stores, while lingerie was reserved for special and unique occasions like one's honeymoon! Lacy thongs and tailored push-up bras were common novelty pieces during this period outside of the traditional fashion lines sold in department stores, "next to feathered boas and glamorous pirate costumes at Hollywood's Frederick." In 1977 Raymond borrowed $40,000 from a friend, and $40,000 from a bank to open Victoria's Secret: a store where women could feel comfortable about purchasing lingerie. First store was opened for the company at the Stanford Shopping Center, in Palo Alto, California. This is the primary line of the company this covers ties, undergarments, lingerie and sleepwear. Victoria's Secret launched Pink in 2002, a range of lingerie tailored for college-aged people, younger than Victoria's Secret's main-line customers. Victoria sports is a line of athletic clothing that can be worn on the street and at gym. The beauty line ranges for bathroom and body fragrances, make-up, accessories, lotions and other products. Swimwear was launched in 2002 and made available via the website and catalogue. In 2015 and 2016 a swim special was broadcast on CBS for the promotion of the brand. In April 2016 the company announced that Victoria's Secret would end its line of swimwear and replace it with a new range of sporting wears. In November 2018, John Mehas replaced Jan Singer as CEO of Victoria's Secret, and announced the relaunch of the swimwear brand. In March 2019, the swim range was available in supermarkets. There are 1,000 Secret lingerie stores in Australia as of 2010, and 100 private Secret Beauty Stores in the U.S., many in shopping malls. We sell a range of products from shirts, dresses, hosiery, lipstick, sleepwear and more. Victoria's Secret mails its catalogues to over 400 million per annum. In 1998, The Limited, Inc. formed Intimate Beauty Business with a plan to create a group of beauty companies including Victoria's Secret Beauty as the corporation's first brand in its portfolio. Despite two years of pressure by environmentalist groups, Victoria's Secret holding firm and a conservation coalition reached an agreement in 2006 to increase awareness of the lingerie retailer's range. The stock can no longer consist of pulp bought from all areas of Canada's woodland caribou range, unless approved by the Woodland Stewardship Council. 10 per cent of the catalogues will now be made of recycled material. Victoria's Secret began showing their annual Victoria's Secret Fashion Show, which is televised on American primetime television in 1995. They are a combination of self-assured strutting for women starting with the runway show in 1995, and mainstream pornography is the voyeuristic fantasies for men and lingerie.