Quote:
Originally Posted by PokerFan2008
Why did Guy retain 90% ownership? greed, I guess....he missed a huge opportunity to sell 40-45% of the company at its peak and limit his personal liability...how many times do you see founders of companies become to emotionally attached and make poor business decision.
Wiki -
Roy Larson Raymond (April 15, 1947 – August 26, 1993) was an American businessman, who founded the Victoria's Secret lingerie retail store. To open the store, he took a $40,000 bank loan and borrowed $40,000 from relatives.
The company earned $500,000 in its first year.
In 1982, after five years of operation, Raymond sold the Victoria's Secret company, to Leslie Wexner, creator of The Limited, for $1 million.
By the early 1990s, Victoria's Secret had become the largest American lingerie retailer, topping $1 billion. In FY 2009, Victoria's Secret was worth over USD $5 billion.
On August 26, 1993, Raymond committed suicide by leaping off the Golden Gate Bridge at the age of 46.
Last edited by JCHAK; 12-06-2014 at 04:18 AM.
Reason: Business 101 - no one has a crystal ball dude.