Limited Brands
Encyclopedia
Limited Brands is an American
apparel company based in Columbus, Ohio
. In 2009 it reported 9.04 billion dollars in revenue for the last fiscal yearhttp://biz.yahoo.com/ic/11/11471.html.
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. He and his family continue to control 17% of LTD. In 1969, Wexner took The Limited Brands public, listed as LTD on the NYSE. In 1977, The Limited moved into its main headquarters on Morse Road in Columbus, Ohio, where it still operates from today.
The 1980s started a string of acquisitions: In 1982, the Victoria's Secret
brand, store, and catalogue were purchased from Roy Raymond
for $4 million. 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. The Limited then phased out its ownership of the A&F brand in 1996, when it was spun off into a publicly-traded company.
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.
On August 3, 2007, Limited Brands transferred 75% ownership of its flagship Limited chain to buyout firm Sun Capital Partners Inc. In 2010, the remaining shares were sold to Sun Capital Partners Inc.
s:
Previous brands that have spun off include:
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
apparel company based in Columbus, Ohio
Columbus, Ohio
Columbus is the capital of and the largest city in the U.S. state of Ohio. The broader metropolitan area encompasses several counties and is the third largest in Ohio behind those of Cleveland and Cincinnati. Columbus is the third largest city in the American Midwest, and the fifteenth largest city...
. In 2009 it reported 9.04 billion dollars in revenue for the last fiscal yearhttp://biz.yahoo.com/ic/11/11471.html.
History
In 1912 Bella Cabakoff emigrated with her parents from RussiaRussia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
to Columbus, Ohio to escape persecution. At 21, she became the youngest buyer for the Lazarus
Lazarus (department store)
F&R Lazarus & Company — commonly known as Lazarus — was a regional department store retail chain operating primarily in the U.S. Midwest, and based in Columbus, Ohio...
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
Upper Arlington, Ohio
Upper Arlington is a suburban city in Franklin County, Ohio, United States, on the northwest side of the Columbus metropolitan area. The population was 33,686 at the 2000 census.-Geography:...
. 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
Vice president
A vice president is an officer in government or business who is below a president in rank. The name comes from the Latin vice meaning 'in place of'. In some countries, the vice president is called the deputy 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. He and his family continue to control 17% of LTD. In 1969, Wexner took The Limited Brands public, listed as LTD on the NYSE. In 1977, The Limited moved into its main headquarters on Morse Road in Columbus, Ohio, where it still operates from today.
The 1980s started a string of acquisitions: In 1982, the Victoria's Secret
Victoria's Secret
Victoria's Secret is an American retailer of women's wear, lingerie and beauty products. It is the largest segment of publicly-traded Limited Brands with sales of over US$5 billion and an operating income of $1 billion in 2006...
brand, store, and catalogue were purchased from Roy Raymond
Roy Raymond (businessman)
Roy Raymond was an American businessman who started the Victoria's Secret lingerie retail store.Raymond, an alumnus of Tufts University and The Stanford Graduate School of Business, opened the first Victoria's Secret store at the Stanford Shopping Center after feeling embarrassed trying to...
for $4 million. Also in 1982, 207 Lane Bryant
Lane Bryant
Lane Bryant is a United States retail women's clothing store chain focusing on plus-size clothing. It began in the early 1900s with the innovative maternity designs created by Lena Himmelstein Bryant Malsin. -Beginning:...
stores were purchased. In 1985, a single Henri Bendel
Henri Bendel
Henri Bendel is an American upscale women's specialty store based in New York City that sells fashion accessories, cosmetics and fragrances, gifts and gourmet foods...
store was purchased for $10 million and 798 Lerner
New York & Company
New York & Company, Inc. is a nationwide specialty retailer of women's fashion and accessories.Lerner Shops was founded in 1918 by Samuel A. Lerner and Harold M Lane in NYC. Also born to Samuel in 1918 was Alan Jay Lerner. New York & Company, Inc., its current name under new ownership, is an...
stores for $297 million. Finally, in 1988, 25 Abercrombie & Fitch
Abercrombie & Fitch
Abercrombie & Fitch is an American retailer that focuses on casual wear for consumers aged 18 to 22. It has over 300 locations in the United States, and is expanding internationally....
stores were purchased for $46 million. The Limited then phased out its ownership of the A&F brand in 1996, when it was spun off into a publicly-traded company.
The 1990s saw the initial development of the Limited Too, Bath & Body Works
Bath & Body Works
Bath & Body Works, LLC, is an American retail store under the Limited Brands umbrella. It was founded in 1990 in New Albany, Ohio and has since expanded across the United States and Canada. It specializes in lotions, bath items, personal care items, and home fragrances.The company launched both a...
, Structure, and Victoria's Secret Beauty
Victoria's Secret
Victoria's Secret is an American retailer of women's wear, lingerie and beauty products. It is the largest segment of publicly-traded Limited Brands with sales of over US$5 billion and an operating income of $1 billion in 2006...
. Later in 1998, several Bath & Body Works
Bath & Body Works
Bath & Body Works, LLC, is an American retail store under the Limited Brands umbrella. It was founded in 1990 in New Albany, Ohio and has since expanded across the United States and Canada. It specializes in lotions, bath items, personal care items, and home fragrances.The company launched both a...
stores were converted to The White Barn Candle Company stores to begin a home fragrance brand.
On August 3, 2007, Limited Brands transferred 75% ownership of its flagship Limited chain to buyout firm Sun Capital Partners Inc. In 2010, the remaining shares were sold to Sun Capital Partners Inc.
Brands
Limited Brands currently operates the following retail brandBrand
The American Marketing Association defines a brand as a "Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers."...
s:
- Victoria's SecretVictoria's SecretVictoria's Secret is an American retailer of women's wear, lingerie and beauty products. It is the largest segment of publicly-traded Limited Brands with sales of over US$5 billion and an operating income of $1 billion in 2006...
- Bath & Body WorksBath & Body WorksBath & Body Works, LLC, is an American retail store under the Limited Brands umbrella. It was founded in 1990 in New Albany, Ohio and has since expanded across the United States and Canada. It specializes in lotions, bath items, personal care items, and home fragrances.The company launched both a...
- Henri BendelHenri BendelHenri Bendel is an American upscale women's specialty store based in New York City that sells fashion accessories, cosmetics and fragrances, gifts and gourmet foods...
- C. O. Bigelow
- The White Barn Candle Company
- La SenzaLa SenzaLa Senza Corporation is a Canadian fashion retailer based in Dorval, Quebec, Canada, which sells lingerie and intimate apparel. The La Senza brand is currently owned by Limited Brands.- History :...
Previous brands that have spun off include:
- Lane BryantLane BryantLane Bryant is a United States retail women's clothing store chain focusing on plus-size clothing. It began in the early 1900s with the innovative maternity designs created by Lena Himmelstein Bryant Malsin. -Beginning:...
- sold in 2002 to Charming ShoppesCharming ShoppesCharming Shoppes is a specialty and plus size clothing retail holding company based in Bensalem, PA. Its subsidiaries are Lane Bryant, Fashion Bug, and Catherines. Clothes are sold from over 2300 retail stores in the U.S., as well as numerous catalogs and online sites...
. - Abercrombie & FitchAbercrombie & FitchAbercrombie & Fitch is an American retailer that focuses on casual wear for consumers aged 18 to 22. It has over 300 locations in the United States, and is expanding internationally....
- acquired by The Limited in 1988 and went public as in 1996. - Lerner New York - sold and became New York and Company.
- The Limited Too - Tween Brands, Inc.Tween Brands, Inc.Tween Brands, Inc. , formerly known as Too, Inc., operated Justice branded stores. Justice sells apparel, underwear, sleepwear, swimwear, lifestyle and personal care products aimed at girls age 9-14 at a value price. Justice operates at mainly non-mall locations such as power centers and lifestyle...
, spun off in 1999. - Galyan's - Majority interest sold in 1999, remaining shares sold in 2004, merged with Dick's Sporting GoodsDick's Sporting GoodsDick's Sporting Goods, Inc. , or Dick's, is a Fortune 500 American corporation in the sporting goods and retail industries.The company's headquarters are on the grounds of Pittsburgh International Airport in Findlay Township near Pittsburgh, Pennsylvania. Dick's has 451 stores in 42 states as of...
- Structure - converted to Express Men, brand name later sold to SearsSears, Roebuck and CompanySears, officially named Sears, Roebuck and Co., is an American chain of department stores which was founded by Richard Warren Sears and Alvah Curtis Roebuck in the late 19th century...
. - Aura Science - merged with Victoria's Secret BeautyVictoria's SecretVictoria's Secret is an American retailer of women's wear, lingerie and beauty products. It is the largest segment of publicly-traded Limited Brands with sales of over US$5 billion and an operating income of $1 billion in 2006...
. - Express - on May 15, 2007, Limited Brands sold a 75% stake in Express to Golden Gate Capital PartnersGolden Gate Capital PartnersGolden Gate Capital Partners is a private equity firm based in San Francisco, California. The firm makes investments primarily in mature technology companies, as well as other select industries, through leveraged buyout transactions as well as significant minority purchases and growth capital...
. - The Limited - on August 3, 2007, Limited Brands transferred 75% ownership of its flagship Limited chain to buyout firm Sun Capital Partners Inc. In 2010, the remaining shares were sold to Sun Capital Partners Inc.