Sales: $3.2 billion (estimated) for home fragrance and personal care products. Corporate sales: $10.4 billion. Net income: $753 million for the year ended Feb. 2, 2013.
Key Personnel: Leslie Wexner, chairman and chief executive officer; Nicholas Coe, president and chief executive officer, Bath & Body Works; Sharen J. Turney, president and chief executive officer, Victoria’s Secret.
Major Products: Bath & Body Works home fragrance and personal care products, Victoria’s Secret fine fragrances and beauty products.
New Products: Bath & Body Works—Pure Paradise fragrances, Malibu Heat lotions and fragrances, White Citrus lotions and fragrances, Underwater Oasis, Fresh Picked sanitizers and home fragrances; Victoria’s Secret—Paradise fragrance collection, Lacquer Gloss Lip shine, Pout Lip Stain, Lash Dare 3-in-1 Mascara
Comments: Corporate sales rose just 1% last year, but sales of Bath & Body Works increased 9%. B&BW sales increased across most categories, including Signature Collection, home fragrance and soaps and sanitizers.
During 2012, Limited Brands opened 51 Victoria’s Secret and Accessories stores, bringing the total to 108. Plans for 2013 include opening another 70 to 100 stores.
For the first quarter ended May 4, 2013, corporate sales rose 5% to more than $2.2 billion and net income increased 14% to $142.5 million.
At the center of the company’s success is, of course, Leslie Wexner. Although he’s 75, the Limited Brands’ founder has no plans to retire. In an interview last year with the Columbus Dispatch, Wexner recalled advice from his father nearly 40 years ago: “If you do retire, what I would say is, you have to find something more compelling to do.”
Obviously, Wexner hasn’t found anything quite so compelling as retail. He continues to build the company’s personal care and beauty businesses and is determined to keep the concepts and the SKUs, forever young.