Victoria's Secret VSCO

Victoria's Secret, the lingerie juggernaut founded in 1977 by Roy Raymond in a fit of mid-century modesty, has trotted its padded push-up bras and angel wings across the cultural stage with a splashy mix of fantasy and fashion. The brand became synonymous with sultry runway spectacles, notably the Victoria’s Secret Fashion Show, where scantily clad supermodels performed what can only be described as a lingerie circus. But the show, which once enjoyed being the pinnacle of provocative retail theater, has been clouded by accusations of sexism and a troubling lack of diversity. The company’s valuation has stumbled in recent years, plummeting from its dizzying heights as it struggled with a controversial executive turnover and fading public appeal. Despite winning accolades for its marketing prowess, Victoria's Secret has become a cautionary tale in the fashion industry about how not to evolve with the times. Now under the leadership of Martin Waters, the brand is attempting to reframe itself amidst a backdrop of scandals and shifting consumer attitudes, proving that even angels can fall from grace.