Victoria’s Secret – The Rise and Fall of a Billionaire Lingerie Brand

As a brand, Victoria’s Secret is known for its annual fashion show that features supermodels strutting down a runway in barely-there lingerie. The show became a pop culture phenomenon that generated millions of viewers every year. But the company has had its share of controversy and criticism, particularly around its use of unrealistic ideals of beauty to market its product. And now, the once-beloved lingerie giant has seen its audience shrink and is facing increasing scrutiny over the way it treats its models.

The series, directed by award-winning journalist Matt Tyrnauer (Valentine’s Day, Citizen Jane: Battle for the City, Scotty and the Secret History of Hollywood), follows the rise and fall of the iconic empire. It’s a searing and provocative docuseries about the inner workings of this mega-brand, the underworld of billionaires and how sexism and racism are inextricably linked to its success.

In the early 1980s, founder Les Wexner set out to create a US version of a European lingerie brand named La Perla. He envisioned a business that was elegant and refined, with stores reminiscent of Victorian boudoirs. But the brand quickly took on a more risqué image, embracing sexiness and serving up an idealized vision of women that was far more suggestive than the company’s initial image.

The annual Victoria’s Secret fashion show was born in 1995 and cemented the lingerie empire’s sexy image. The wildly popular shows featured bombshells like Stephanie Seymour, Heidi Klum and Gisele Bundchen, who were clad in ever-tinier bits of lace and satin, and whose sculpted curves and cascading curls would be captured by hordes of photographers.

But in the 2000s, as beauty norms shifted and social media platforms amplified criticism, the show began to face serious backlash. The company was forced to alter its image, and the infamous Angels were retired. The company overhauled its image and embraced diversity, with such models as lesbian soccer star Megan Rapinoe, plus-size model Paloma Elsesser and trans activist and model Valentina Sampaio appearing in the show.

Victoria’s Secret expanded beyond its original lingerie line to offer a one-stop shop for all of a woman’s needs. The brand now offers sleepwear, swimwear, beauty, sportswear, shoes and even a line for teenage girls called PINK.

The new three-part Hulu docuseries investigates the company that has dominated malls across America and tells the true story behind the empire. It’s a searing, provocative look at a business run by the larger-than-life and enigmatic billionaire Les Wexner, the underworld of fashion, and the perverse way in which the industry promotes and profits from objectification of women.

The series premieres July 14 on Hulu. It’s executive produced by Corey Reeser, Matt Tyrnauer and Elizabeth Rogers. It’s a must-see for anyone who has ever wondered about the real-life story of this sexy empire and the people who built it.