The rise, fall, and revival of Victoria's Secret

The Victoria's Secret fashion show is set to return on Wednesday for the third time, with Angel Reese hitting the runway. Angela Weiss / AFP via Getty Images Victoria's Secret is the largest lingerie retailer in the US, and has been for several decades. After explosive success, it had several stumbles but has since overhauled its brand image. In 2025, the company reported its strongest year in sales growth since it split from L Brands. Victoria's Secret is back. The lingerie retailer has be...