The Limited, Inc.
| Public | |
| Traded as | : LB S&P 500 Component |
| Industry | Retailing |
| Founded | 1963 |
| Founder | Leslie H. Wexner |
| Headquarters | Columbus, Ohio, U.S. |
|
Key people
|
Les Wexner, CEO |
| Products | Clothing, fashion accessory |
| Revenue |
 US$ 12.574 billion (2016) |
 US$ 2.002 billion (2016) |
|
|
US$ 1.158 billion (2016) |
|
| Total assets |
US$ 8.493 billion (2016) |
| Total equity |
US$ -259 million (2016) |
|
Number of employees
|
55,400 (2015) |
| Subsidiaries |
Victoria's Secret Pink Bath & Body Works Henri Bendel La Senza |
| 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 include 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.
In 1912, Bella Cabakoff emigrated with her parents from Russia to Columbus, Ohio, to escape persecution. At age 21, she became the youngest buyer for the Lazarus department store chain. After spending over 20 years working for 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 "Les" 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, Ohio. 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 longtime friend Jim Waldron, who served as Senior Vice President. Bella Wexner served as secretary until her death in 2001, Harry as chairman, who served until his death in 1975, and Leslie succeeded his father as the chairman and later became CEO. As of 2014[update] he and his family continue to own 17% of LB. In 1969, Wexner took The Limited Brands public and sold 47,600 share at $7.25 a share. In 1977, The Limited moved into its main headquarters on Morse Road in Columbus, from which it still operates today. In 1982, The Limited was first listed on The New York Stock Exchange.
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Wikipedia