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Story of Victoria Secret
Victoria's Secret was founded by Roy Raymond, and his wife, Gaye Raymond, 1977
Raymond was embarrassed when purchasing lingerie for his wife at a department store. Raymond reportedly spent the next eight years studying the lingerie market.
Raymond borrowed $40,000 from family and $40,000 from a bank to establish Victoria's Secret: a store in which men could feel comfortable buying lingerie.
Roy thought that Victoria secret would plateau at this stage. He then moved onto another business venture
Victoria’s Secret had a revenue of $6 million dollars. Roy sold Victoria Secret for only $1 million dollars.
His next business ventures failed, his marriage deteriorated, and he took his own life just 10 years after the sale and 3 years after his divorce
Leslie Wexner, the man who bought the business is not worth several Billion dollars
Lessons:
1 in the hand better than 2 in the bush
Forgetting why you started
Not believing in yourself
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