L Brands was founded in 1963 when founder and current CEO Les Wexner opened his first “The Limited” store. In 1969, Wexner took the company public and in 1982 Wexner acquired the Victoria’s Secret brand for USD 1 million. After acquiring and spinning of several brands such as Abercrombie & Fitch (ANF) and the sale of its oldest brand “The Limited”, the current L Brands group looks as follows:
*Victoria’s Secret: L Brands’ flagship brand and world renowned lingerie brand.
*Pink: Separate store concept from Victoria’s Secret but grouped under the latter, Pink is a women’s lingerie retailer focused on teenagers, college students and young professionals.
*Bath & Body Works: Market leading specialty retailer in home fragrances, candles, soaps, …
*La Senza: Women Lingerie retailer, focusing on a younger target audience than Victoria’s Secret.
*Henri Bendel: Upscale retailer of handbags, accessories, women clothing and fragrances.
Let’s take a closer look at the different segments.
Victoria’s Secret is the iconic women’s underwear brand that is sold globally. It is known for its yearly fashion show that is watched by millions of people in more than 200 countries and for its lingerie models, the “Victoria’s Secret Angels”.