Skip to main content
BoF Logo

Agenda-setting intelligence, analysis and advice for the global fashion community.

The Inner Workings of Victoria’s Secret: A Chairman and His Circle

Creative director Ed Razek is exiting Victoria’s Secret as the brand suffers from sinking sales and media reports of past links to sex offender Jeffrey Epstein. But the root of the problem may be the very thing that made the company so successful in the first place: billionaire L Brands chairman Les Wexner’s tight grip on power.
(L-R) Les Wexner and Ed Razek | Source: Getty Images
By
  • Lauren Sherman,
  • Chantal Fernandez

COLUMBUS, United States —

Please sign in to ensure you can read our agenda-setting intelligence, analysis and advice. Or get in touch at support@businessoffashion.com if you experience difficulties.

© 2026 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.

The Industry That Eats Its Young

Small fashion labels have always been shortchanged by their wholesale partners. A wave of high-profile bankruptcies has turned a structural injustice into an existential crisis. There is a better way to do business, writes Imran Amed.


The Zara-Fication of John Galliano

Fashion’s enfant terrible is trading exclusivity for the mass market. Is it the ultimate fashion coup, or the final surrender of prestige?


view more
Latest News & Analysis
Unrivalled, world class journalism across fashion, luxury and beauty industries.
VIEW MORE
Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON