![]() Within a few years the company grew from a $7-million operation to a 600-store retailer with a huge mailing list and sales of more than $2 billion. In 1982 Raymond sold his company to The Limited, Inc. The following year the first catalog appeared, luring consumers into the world of "Victoria"-a sensual, dreamy character who was a combination English romantic/modern feminist. Ron Raymond opened the first Victoria's Secret store in 1977 in San Francisco. The suit claimed that the company had discriminated in the past and, in addition, asked for an apology and unspecified damages. ![]() "She discovered the discrepancy," the lawsuit claims, "when the co-worker received what appeared to be an identical catalogue, but his offered a $25 discount on a purchase of $75 or more, while she was offered only a $10 discount." The lawsuit asked for a $15 reimbursement from the company for anyone who received the smaller discount, or the opportunity to purchase future merchandise with a $15 credit. The class-action lawsuit stated that the world-famous catalog offered her a smaller discount than a male co-worker. In 1996 a disgruntled female customer filed a lawsuit against the company, claiming that male customers were offered a larger discount than females. While Victoria's Secret is a premier retailer of women's lingerie, it is not without problems. In 1997 the company raised dividends 8 percent per share, and in 1998 the company announced another 8-percent increase in dividends to $.56 per share. On March 31, 1998, the company's stock closed at $27.06 per share. The initial public offering of Intimate Brands' stock in October 1995 was at $17.00 per share. Victoria's Secret Catalogue controlled 6.5 percent of the U.S. In 1997 Victoria's Secret Stores conquered 14 percent of the $10-billion U.S. sales, and Victoria's Secret Catalogue provided 20 percent, for a combined total of 67 percent of total sales in 1997. Victoria's Secret stores provided 47 percent of total Intimate Brands, Inc. Intimate Brands enjoys a great deal of success with its subsidiaries, with Victoria's Secret providing the most revenue. Comparable store sales (comparing sales from the same store) were up 11 percent from 1996 to 1997. Victoria's Secret's net sales for 1997 were $1.7 million. Sales in 1992 were $1.3 billion and rose to $3.6 billion in 1997. has experienced explosive growth, more than doubling its sales in four years. Intimate Brands anticipated opening 85 new Victoria's Secret stores in 1998, including 35 freestanding Victoria's Secret Bath and Fragrance stores and 10 Victoria's Secret Hosiery stores. prides itself on being a leading retailer of intimate apparel and personal products, and with its 1,827 specialty stores and its catalog distribution the company continues to maintain its reputation for quality. Victoria's Secret is the number one mall-based retailer of women's lingerie. For example, Gryphon makes fragrances for the Victoria's Secret brand, among others. A private label manufacturer makes products for sale under another company's name. owns Bath & Body Works, a leading retailer of bath items, and Gryphon, a maker of private-label perfumes and bath products. Intimate Brands, Inc.'s primary subsidiaries are Victoria's Secret Stores and the Victoria's Secret Catalogue. The company's lingerie and clothing are made from the finest materials, providing the customer with comfort and quality. Victoria's Secret distributes several innovative products aimed at developing women's self-esteem and beauty. The catalog presents an inspirational lifestyle for women over the age of 18. This publication, with a record circulation of 426 million in 1997, is the premier catalog of intimate apparel and clothing. ![]() The company operates 789 stores and distributes the Victoria's Secret Catalogue. Victoria's Secret, owned by Intimate Brands, Inc., is the leading seller of intimate apparel, foundations, and related products for women of the ages 15 and older.
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