L Brands

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L Brands Inc.
Type Public (NYSELB)
S&P 500 Component
Industry Retailing
Founded 1963
Headquarters Columbus, Ohio, U.S.
Key people Leslie Wexner, CEO
Products Clothing, fashion accessory
Revenue Increase US$ 10.773 Billion (2013)[1]
Operating income Increase US$ 1.743 Billion (2013)[1]
Net income Increase US$ 903 Million (2013)[1]
Total assets Decrease US$ 6.019 Billion (2012)[2]
Total equity Decrease US$ -820 Million (2013)[2]
Employees 99,400 [3]
Website www.lb.com

L Brands Inc. (formerly known as Limited Brands Inc and The Limited Inc.) is an American fashion retailer based in Columbus, Ohio; its flagship brands are Victoria's Secret and Bath & Body Works. L Brands posted $10.5 Billion in revenue in 2013, and was listed as #258 in the 2013 Fortune 500 list of top companies.

History[edit]

In 1912, Bella Cabakoff emigrated with her parents from Russia to Columbus, Ohio to escape persecution. At 21, she became the youngest buyer for the Lazarus department store chain. However, after spending over 20 years with Lazarus, in 1951 she and her husband Harry Wexner opened a women's clothing store named Leslie's (after their son) on State Street. This store became the training ground for Leslie Wexner. In 1963, he borrowed $5,000 from his aunt and $5,000 from the bank and opened a store at the Kingsdale Shopping Center in Upper Arlington. This store was named "The Limited" because the store focused on clothing for younger women, unlike his parents' general merchandise store. Later in 1964, Bella and Harry closed their store to join their son in his venture.

The original board consisted of only the three family members and long time friend of Harry and Bella, Jim Waldron, (who served as Senior Vice President): Bella Wexner, who served as secretary until her death in 2001, Harry as chairman, who served until his death in 1975, and Leslie who succeeded his father as the chairman and later became CEO. As of 2014 he and his family continue to own 17% of LB. In 1969, Wexner took The Limited Brands public on the NYSE. In 1977, The Limited moved into its main headquarters on Morse Road in Columbus, Ohio, from which it still operates today.

The 1980s started a string of acquisitions: In 1982, the Victoria's Secret brand, store, and catalogue were purchased from Roy Raymond for $1 million.[4] Also in 1982, 207 Lane Bryant stores were purchased. In 1985, a single Henri Bendel store was purchased for $10 million and 798 Lerner stores for $297 million. Finally, in 1988, 25 Abercrombie & Fitch stores were purchased for $46 million. In 1996 The Limited phased out its ownership of the A&F brand , when it was spun off into a publicly traded company.[citation needed]

The 1990s saw the initial development of the Limited Too, Bath & Body Works, Structure, and Victoria's Secret Beauty. Later in 1998, several Bath & Body Works stores were converted to The White Barn Candle Company stores to begin a home fragrance brand.

In 2005 Limited Brands purchased home fragrance manufacturer Slatkin & Company.[5]

On August 3, 2007, Limited Brands sold 75% ownership of its flagship Limited chain. In 2010, the remaining 25% shares to buyout firm Sun Capital Partners Inc. Stefan M. Selig from Bank Of America was involved in these deals.[6]

Brands[edit]

L Brands currently operates the following retail brands:

Although not part of L Brands, they also have distribution rights (exclusive or non-exclusive) for the following brands:

Previous brands that have spun off include:

References[edit]

External links[edit]