Bath & Body Works, Inc.
American retail company / From Wikipedia, the free encyclopedia
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Bath & Body Works, Inc. (formerly known as L Brands, Inc., Limited Brands, Inc. and The Limited, Inc.) is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was listed as 481 on the 2024 Fortune 500 list of largest United States companies by revenue.[4]
Company type | Public |
---|---|
Industry | Retailing |
Founded | 1963; 61 years ago (1963) |
Founder | Les Wexner |
Headquarters | Columbus, Ohio, U.S. |
Key people | Gina Boswell (CEO) |
Products | Clothing, fashion accessory |
Revenue | US$11.84 billion (2021)[1] |
US$1.58 billion (2021)[1] | |
US$844 million (2021)[1] | |
Total assets | US$11.57 billion (2021)[1] |
Total equity | US$–662 million (2021)[2] |
Number of employees | 57,200 (2023)[3] |
Subsidiaries | Bath & Body Works |
Website | www |
In February 2020, L Brands announced the planned sale of its Victoria's Secret division to Sycamore Partners, a private equity firm. Under the agreement, Sycamore Partners would gain a 55% controlling stake in Victoria's Secret while L Brands would keep a 45% stake, leaving Bath & Body Works to become L Brand's sole business.[5] The sale fell through in May 2020, although CEO Les Wexner did step down as planned, and was succeeded by Andrew Meslow.[6] Gina Boswell was appointed the new CEO effective December 1, 2022, replacing Andrew Meslow who stepped down in May 2022. She replaced the interim CEO, Sarah Nash.[7]
In March 2021, L Brands announced it would spin off Victoria's Secret as a stand-alone publicly traded company, and then change its name to Bath & Body Works, Inc. As of August 3, 2021, the separation was complete, and Bath and Body Works stock started trading under the ticker symbol "BBWI".[8]