Business
The Rise and Fall of Victoria’s Secret
“What do you mean ‘the rise and fall of Victoria’s Secret?’ They didn’t fall!
…did they?”
That’s right, Victoria’s Secret is no longer the Queen of lingerie.
What was once the dominant name in women’s underwear is now a fraction of what it once was. Slow adaptations to an evolving market, sudden and frequent leadership changes, and a handful of controversies have all but ended Victoria’s Secret’s once unshakeable reign.
The rise and fall of Victoria’s Secret has been a business tale of immense success, missed opportunities, and poor decisions.
Hey, at least we got Tyra Banks and Heidi Klum out of it.
An Awkward Trip To The Bra Store
American businessman Roy Raymond needed to buy a bra for his wife. Why she didn’t or couldn’t buy herself a bra isn’t really part of the story for some reason. Frankly, it’s mildly impressive that a man in the 1970s knows his wife’s bra size and is willing to go out and buy it.
I digress…
Raymond apparently had an awkward experience buying a bra for his wife. He was so uncomfortable he thought,
“I should start a bra business.”
So, in 1977, Raymond founded a women’s underwear shop targeting male consumers. He named it Victoria’s Secret.
How did he come up with the name? Who is Victoria? And what is her secret? Slate writer Naomi Barr eloquently explained in 2013:
“Raymond imagined a Victorian boudoir, replete with dark wood, oriental rugs, and silk drapery. He chose the name Victoria to evoke the propriety and respectability associated with the Victorian era: outwardly refined, Victoria’s ‘secrets’ were hidden underneath.”
And just like that, Victoria’s Secret was born.
Enter Wexner – A Businessman’s Businessman
By 1982, Victoria’s Secret was raking in an annual $4 million but was at risk of bankruptcy. To save what he saw as a potentially profitable brand, businessman’s businessman Les Wexler of Limited Brands (now L Brands) swooped in to lead the lingerie company.
Wexner took Raymond’s concept of a women’s underwear store for men and thought,
“Nahhhh, let’s do something else.”
The immensely successful Wexner took Raymond’s vision and flipped it. Taking inspiration from the European lingerie market (specifically La Perla), Wexner rebranded Victoria’s Secret not for men but for women.
The idea that women’s lingerie could be for women was a fresh idea. In less than a decade, Victoria’s Secret was the largest lingerie retailer in the U.S. with 350 stores nationally and sales topping $1 billion.
And then came the fashion show…
The Victoria’s Secret Fashion Show Is Born
In 1995, Victoria’s Secret annual fashion show made its debut. The idea that you could have a fashion show focused entirely on women’s underwear was a foreign concept. Ed Razek, L Brand’s longtime chief marketing officer, stepped in to run the show.
He and his team handpicked each model (as opposed to ordering them in bulk?) to walk the runway. The vision for a new kind of fashion show was taking off. It quickly became an iconic staple of Victoria’s Secret, launching the careers of Tyra Banks, Heidi Klum, Gisele Bündchen, and many others.
The Victoria’s Secret “Angels” came into play after a commercial promoting its Angels underwear collection aired in 1997.
“Angel” almost immediately became synonymous with the Victoria’s Secret brand.
The Angels Flew High…
In 1999, the fashion show aired online for the first time. 1.5 million viewers tuned in and crashed the site. Victoria’s Secret broke the internet long before Kim Kardashian’s fat ass did.
From there, the show only got increasingly lavish. The Victoria’s Secret Annual Fashion Show was THE fashion show to see.
In 2000, Tom Brady’s future wife wore a $15 million dollar diamond and ruby-encrusted Fantasy Bra at the show.
It’s hard to imagine a fashion show more extravagant than a bra worth more than some country’s GDP, but Victoria’s Secret kept going.
Products like the Miracle Bra and Body by Victoria became blockbusters in their own right. Bras never sold so well.
In 2000, Sharen Jester Turney hopped on as CEO of Victoria’s Secret Direct. She made some critical changes to Victoria’s Secret catalog – less Playboy more Vogue. Six years later, Turney took over as CEO of the whole brand. Under her tenure, Victoria’s Secret thrived. Sales increased by 70% to $7.7 billion.
Victoria’s Secret was officially the Queen of lingerie.
…But Too Close To The Sun
Starting in 2015, sales began to falter due to a significant shift in the market. Body positive/inclusive brands like Aerie, ThirdLove, and Lively, emerged to snag a sizeable share of the lingerie market.
In 2016, Turney abruptly stepped down as CEO and was replaced by Wexner as interim CEO.
In a couple of swift, ruthless business moves, Wexner killed the catalog, swimwear, and apparel to focus exclusively on lingerie (the bread and butter of Victoria’s Secret). He then split Victoria’s Secret into three distinct companies with their own respective CEOs:
Victoria’s Secret Lingerie, Victoria’s Secret Beauty, and Pink (the VS brand aimed at teens).
After these major changes, Jan Singer entered as the new CEO. Two years later, she would resign after showrunner Razek angered the internet over his comments on trans and plus-size models.
By this time, the iconic fashion show severely dipped in viewership and the company’s market share had dropped from 33% to 24%.
In 2019, John Mehas took over as CEO and had a very angry board to deal with. James A Mitarotonda, CEO of Barington and Victoria’s Secret board member wrote in a letter:
“Victoria’s Secret’s brand image is starting to appear to many as being outdated and even a bit ‘tone deaf’ by failing to be aligned with women’s evolving attitudes towards beauty, diversity, and inclusion.”
The company made attempts to be relevant once again. Raznek “resigned” the day the company hired its first trans model, Valentina Sampaio. They also hired a “body-inclusive” model Barbara Palvin.
And, on November 2, 2019, the iconic Victoria’s Secret Annual Fashion Show was canceled.
Once the trendsetter, Victoria’s Secret was now playing catch up. And it may have been too late.
Yikes on Bikes – The Epstein Connection
Just when Victoria’s Secret was in the middle of a critical rebranding, they got caught up in the Epstein scandal.
Uh oh.
As he did with many, many wealthy business folks, Epstein managed Wexner’s finances. That connection proved to be a harmful one, as Epstein would use his connection to Victoria’s Secret as a means of coercing his victims into sexual acts.
Gross, right?
“At some point in your life we are all betrayed by friends,
“Being taken advantage of by someone who was so sick, so cunning, so depraved, is something that I’m embarrassed I was even close to.
“But that is in the past.”
This was the last thing Victoria’s Secret needed.
In 2020, Wexner stepped down as chairman and CEO of L Brands and sold a majority stake in Victoria’s Secret. By the end of the year, 250 Victoria’s Secret and Pink stores permanently closed.
A Body Inclusive Victoria’s Secret?
Victoria’s Secret’s latest attempts to be body-inclusive or body-positive are coming across as late, to put it diplomatically. Nobody bought into their attempts to celebrate diverse bodies. They lacked the credibility after decades of promoting one body type.
Kate Moss was out and Lizzo was in.
Victoria’s Secret was too little, too late in their attempts to catch up with an evolving market. They failed to adapt when the time came and their sales suffered because of it.
Does Victoria’s Secret Have A Future?
Last year, Victoria’s Secret had a small bump in online sales. They swapped their iconic Angels for activists and entrepreneurial women.
As a company, Victoria’s Secret is in recovery mode. Under new leadership, the lingerie giant is sailing on its own. Whether or not the brand finds a new identity in a very different fashion world is up for speculation.
There are lessons to be learned from the rise and fall of Victoria’s Secret: always have a sense for an evolving market and adapt sooner rather than later.
What was once old is new again: mid century modern is back in style. From architecture to furniture, the postwar look is in, and the hype extends all the way to office chairs.
Do you need a mid century modern office chair in your life? If so, there’s plenty to choose from. Your office chair should be tailored to your style, whether you like luxury, utility, or something in between.
That’s why we’ve put together our 10 favorite places to find your ideal mid century modern office chair.
What is mid century modern design?
After World War II, spirits were high in the US, and new technology was taking the country by storm. Mid century modern refers to the design concepts that came about during this time.
As opposed to the frilly, ornate designs of classical furnishings, mid century modern designs are angular, material, and functional. Wood is a common design element, especially teak. Mid century modern furniture may also have materials like glass, vinyl, and metal. Designs are simple and geometric, with bold accent colors to make them pop.
The mid century modern aesthetic never really went away, but it’s made a noted comeback in recent years. Some have chalked it up to Boomer and Gen X nostalgia, others point to mid-century-set shows like Mad Men and The Marvelous Mrs. Maisel.
Why should I buy a mid century modern office chair?
Mid century modern is the perfect fusion of style and utility. If you want to cultivate an office space that commands respect without being ostentatious, mid century modern is the style for you.
When it comes to office chairs, an MCM one is often made with sturdy wood and vinyl. They combine the ergonomics of a modern office chair with old-fashioned grace.
If you’re concerned with utility and utility only, a more bog-standard office chair may suit you. But a mid century modern office chair is great for someone who wants to wow colleagues with a mature, thoughtful business space.
Where can I get a mid century modern office chair?
1) Wayfair
When it comes to furniture, Wayfair offers the best of both worlds. Their goods, including their mid century modern office chairs, are stylish and affordable. You can get a sturdy task chair for less than $100 or a more distinguished seat for less than $350.
MCM office chair examples: Dovray ($126), Bradford ($139), Lithonia ($133)
2) France & Son
Wayfair’s chairs are affordable, but France & Son is the perfect option for luxury shoppers. Their mid century modern office chairs are robust and sleekly designed. If you dress to impress and enjoy the finer things in life, these are the chairs for you.
MCM office chair example: Brooks ($695)
3) Houzz
Started as a community for people to share home decor tips, Houzz has become a great ecommerce platform for finding stylish furniture. They’re more known for home decor than desk chairs, but they have plenty of great, affordable finds if you know where to look.
MCM office chair examples: Arvilla ($173), Rathburn ($259)
4) Laura Davidson
The Laura Davidson collection offers a fairly limited selection of classic office furniture. Still, there’s a reason they’re trusted by big-wigs like Apple, Disney, and Salesforce. Their chairs are sturdy and beautifully designed, reimagining classic Eames and Knoll designs.
MCM office chair examples: Rockefeller ($275), SOHO II Soft Pad ($450)
5) Icons of Manhattan
Icons of Manhattan has a simple philosophy: do one thing, and do it right. Their office chairs are handcrafted from premium materials and tailored to a mid-century modern style. If you want that Mad Men energy in your office (hopefully with a lot less angst), these are the chairs for you.
MCM office chair example: Ribbed Medium ($219)
6) Amazon
Yes, the internet’s premier shopping destination has a robust collection of mid century modern office chairs. Like with most products, their selection of seats is vast and can be hit or miss. Still, they’ve got stunning chairs available for any style, whether you care about comfort, class, or ergonomics.
MCM office chair examples: IDS Home Modern ($219), Art Leon MCM Swivel ($139)
7) AllModern
AllModern’s collection of desk chairs and other furniture truly embodies the mid century modern spirit. Their work is tight, angular, and functional above all. They’re part of the Wayfair family and they traffic in a number of modern styles, but their sleek chairs are perfect for any mid century modern space.
MCM office chair examples: Frederick ($229), Kealey ($349)
8) Overstock
Overstock is known as a one-stop shop for quality home goods at sub-wholesale prices. If you want a spiffy mid century modern office chair that won’t break the bank, they’re the first place to look. While they’re somewhat less reliable than the more upscale platforms on this list, their selection is massive.
MCM office chair example: Joseph Modern ($163)
9) Walmart
Hayneedle’s selection of mid-century modern office chairs falls somewhere between the minimal Laura Davidson and the endless Amazon catalog. Their array of mid-century designs is affordable and versatile, with chairs that match almost any style. While they may be part of the Walmart family, these chairs are anything but second-rate.
MCM office chair example: Waleaf ($97)
10) Target
Why splurge when you can save? As usual, Target is a hidden gem, offering a sturdy selection of mid century modern office chairs for some of the cheapest prices out there. Many of the chairs they offer are from the same designers as these other stores—Christopher Knight, LumiSource, Armen Living, etc.—at reduced prices.
MCM office chair example: Lombardi ($136)
A quality payroll service is one of the most invaluable tools any entrepreneur can have. Whether you’re a small business owner or an HR manager, paying your employees on time is crucial. This makes choosing a service even more weighty, after all, it is a heavy administrative burden. The good thing is, you can outsource this duty to an online payroll processor.
According to statistics, 49% of workers begin a new job search after just two paycheck errors, and with 65% of workers living paycheck to paycheck, it’s more important than ever to ensure an efficient, effective payroll process.
These services can save you precious time and mitigate potential issues. To make it easy for you to choose, we listed the best online payroll services for 2025.
Top 5 Online Payroll Services
Gusto
Gusto is a great option for both new and experienced payroll administrators, boasting an incredibly clean user interface and a first-rate payroll setup. Gusto lets you manage your employee’s time off (vacation and sick pay), company health insurance, and worker’s comp. Gusto offers excellent mobile access, too. This allows employees to manage aspects of their Gusto profiles, view payday insights, and access Gusto Wallet financial tools.
Gusto offers four tiers of membership, the most affordable of which is the Contractor’s Only plan, which offers unlimited U.S.-based and global contractor payments, supporting more than 100 countries, plus 1099 creation and filing at a rate of $6 per person per month with no base price.
The other three are Simple, Plus, and Premium. Here’s a deeper look into each plan:
Simple
Price:
$40/mo + $6/mo per person
Plan details:
- Full-service single-state payroll including W-2s and 1099s
- Employee profiles and self-service
- Basic hiring and onboarding tools
- Gusto-brokered health insurance administration
- Employee financial benefits
- Payroll and time-off reports
- Custom admin permissions
- Integrations for accounting, time tracking, expense management, and more
Plus
Price:
$80/mo + $12/mo per person
Plan details:
(All Simple plan features +)
- Full-service multi-state payroll including W-2s and 1099s
- Next-day direct deposit
- Advanced hiring and onboarding tools
- PTO management and policies
- Time tracking and project tracking
- Workforce costing and custom reports
- Team management tools
- Full support
Premium
Price:
Bespoke pricing, reach out for a personalized quote
Plan details:
(All Plus plan features +)
- HR Resource Center
- Compliance alerts
- Access to certified HR experts
- Full-service payroll migration and account setup
- Health insurance broker integration
- R&D tax credit discount
- Waived fees and exclusive pricing
- Performance reviews
- Employee surveys and insights
- Dedicated support
QuickBooks Online Payroll
Founded in 1983, Intuit is a California-based financial software company. Since its inception, Intuit has developed into one of the best-known providers of accounting software. Their online payroll service, QuickBooks, includes the essential features you need to run payroll.
QuickBooks offers three tiers of membership. The least expensive membership covers basic accounting features, such as invoices. For more features, check out the Essentials and Plus memberships. Each plan’s features are as follows:
QuickBooks Simple Start (2025)
- Price: $38/month for 1 user
- Best for: Freelancers and small teams with basic payroll needs
Features:
- Automated bookkeeping
- 5 free ACH bank transfers/mo for bills
QuickBooks Essentials (2025)
- Price: $75/month for 3 users
- Best for: Small businesses needing deeper financial tracking
Features:
- Includes all Simple Start features, plus:
- Recurring invoices
QuickBooks Plus (2025)
- Price: $115/month for 5 users
- Best for: Growing businesses with HR and compliance needs
Features:
- Includes all Essentials features, plus:
- AI-powered profit & loss insights
- Anomaly detection and resolution
- Budgeting
QuickBooks Advanced (2025)
- Price: $275/month for 25 users
- Best for: Established businesses with HR and compliance needs
Features:
- Includes all Plus features, plus:
- Custom user management and permissions
- Custom report builder
- Data sync with Excel
- Revenue recognition
- Forecasting
OnPay
OnPay is a cloud-based full-service payroll processing system capable of running payroll according to a preset schedule, automatically disbursing wages, and calculating and withholding taxes.
OnPay can sync up with several other software your team is already using, making it easy to integrate the service into your team’s system. Another benefit of OnPays model is the simple, transparent pricing structure. No tiers; just one base rate.
Pricing:
$49/mo + $6/mo per employee
SurePayroll
SurePayroll’s award-winning service supports W-2 employees and 1099 contractors. Additionally, it handles 401(k) deductions and manages flexible spending accounts (FSA) and health savings accounts (HSA).
SurePayroll also offers a mobile app— available on both Apple and Android devices.
SurePayroll offers live support through its United States-based support team through chat, email, or phone.
Small Business Payroll
- Price: No Tax Filing: $20/month + $4 per employee, Full Service: $29/month + $7 per employee
- Best for: Small businesses and startups
Features:
- We file and deposit your federal and state taxes!
- Run payroll in 3 simple steps
- Schedule payroll to run automatically
- Unlimited payroll runs and free 2-day direct deposit
- Reports and pay stubs are available online 24/7
- Supports W-2 employees and 1099 contractors
Nanny & Household Payroll
- Price: Full-Service Household, $39/month, includes 1 employee, $10 per additional employee
Best for: Homeowners
Features:
- Signature-ready Schedule H
- We file & deposit your federal and state taxes!
- Run payroll in 3 simple steps
- Schedule payroll to run automatically
- Unlimited payroll runs and free 2-day direct deposit
- Reports & paystubs available online 24/7
- Supports W-2 employees & 1099 contractors
Be sure to choose a payroll service that works for your business, and provides you with the peace of mind that comes with a reliable bookkeeping system. Your employees will thank you.
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