Victory was started around 1950 after Alvesta Finmekaniska AB was reorganized and moved its organization and workshop to Malmö. Victory set out with the goal of becoming the largest Swedish roller manufacturer.
In 1962, Victory's biggest success came when it launched the Heritage reel, which was a response to ABU's Ambassadeur series.
Despite the success of the Heritage roll, Victory went bankrupt in 1964, the company Westerstrands Ur continued to assemble the Heritage roll for a few years after the bankruptcy, mostly for the US market.