victorias secret
I) Executive Summary
The history of lingerie can be traced back thousands of years to 3000 B.C., but it was not until 1977 when Roy Rogers founded Victoria’s Secret that lingerie evolved into what we think of now. In this paper, we examine the emergence of Victoria’s Secret as the leading retailer in women’s lingerie, the context for the innovation, and the approaches the firm took to commercialize the innovation. Victoria’s Secret was hardly the first lingerie retailer, but it was able to take advantage of a niche market demand, fortunate timing, and a well-sequenced ecosystem to become the market leader it is today. Our focus is on the period between 1977 when Roy Rogers first founded VS, through 1982 when he sold the company to The Limited Brands, and finally ending in 1995 when The Limited Brands was able to fully realize Victoria’s Secrets’ value proposition.
II) Context for Innovation
The Evolution of Lingerie:
Lingerie as derived from the French words lin (linen) and linge (washables), translates to washable lineni. Our notion of lingerie, as fashionable and alluring undergarments for women, is a modern concept as compared to that of previous generations. For most of history, women’s underwear was designed for functionality rather than sensuality. Until the glamorization of women’s underwear, deemed as of the 1960’s, undergarments served three main purposes: shape, hygiene, and modestyii.
Historical records trace the origin of lingerie to ancient Egypt, around 3000 B.C., where status or social prestige was represented by the types of clothing. High-ranking Egyptian women wore tunics – narrow undergarments that started below the chest, extended to the ankles, and were supported by crosswise shoulder strapsiii. Additional forms of women’s innerwear are depicted by statues, paintings and writings from classical Greece: the zonѐ (a band of linen worn around the waist and lower torso for shape and control), apodesmos (breast band or girdle), mastodeton
The history of lingerie can be traced back thousands of years to 3000 B.C., but it was not until 1977 when Roy Rogers founded Victoria’s Secret that lingerie evolved into what we think of now. In this paper, we examine the emergence of Victoria’s Secret as the leading retailer in women’s lingerie, the context for the innovation, and the approaches the firm took to commercialize the innovation. Victoria’s Secret was hardly the first lingerie retailer, but it was able to take advantage of a niche market demand, fortunate timing, and a well-sequenced ecosystem to become the market leader it is today. Our focus is on the period between 1977 when Roy Rogers first founded VS, through 1982 when he sold the company to The Limited Brands, and finally ending in 1995 when The Limited Brands was able to fully realize Victoria’s Secrets’ value proposition.
II) Context for Innovation
The Evolution of Lingerie:
Lingerie as derived from the French words lin (linen) and linge (washables), translates to washable lineni. Our notion of lingerie, as fashionable and alluring undergarments for women, is a modern concept as compared to that of previous generations. For most of history, women’s underwear was designed for functionality rather than sensuality. Until the glamorization of women’s underwear, deemed as of the 1960’s, undergarments served three main purposes: shape, hygiene, and modestyii.
Historical records trace the origin of lingerie to ancient Egypt, around 3000 B.C., where status or social prestige was represented by the types of clothing. High-ranking Egyptian women wore tunics – narrow undergarments that started below the chest, extended to the ankles, and were supported by crosswise shoulder strapsiii. Additional forms of women’s innerwear are depicted by statues, paintings and writings from classical Greece: the zonѐ (a band of linen worn around the waist and lower torso for shape and control), apodesmos (breast band or girdle), mastodeton