EUROPEAN OPERATIONS; SAYS FURTHER U.K. EXPANSION PLANNED COLUMBUS, Ohio, April 3 /PRNewswire/ -- Beth Pritchard, President and CEO of Bath & Body Works today announced a worldwide search for an executive to head BBW's European operations. According to Pritchard, "We are set for the next stage of development in the United Kingdom. The results in our 5 stores there have met and very often exceeded our expectations. As we continue to expand it becomes increasingly important to have our U.K. operations headed by someone with significant experience in retailing and real estate in that country." Pritchard said that for the next several months the focus would be on continuing to build brand recognition. She noted, "The successful effort of Bath & Body Works in the U.K. has proven that the brand has international retailing potential. We expect to add at least 100 units in the United Kingdom, beginning in 1997. As for the worldwide potential, it is huge. As Les Wexner has said, we believe it is in the 1,000 unit range." Bath & Body Works began operating in the U.K. with a joint venture with Next Plc. in 1994. As of March 1996, BBW took on sole ownership of the stores in the United Kingdom. "We had an opportunity to buy out our partner in the U.K. and we seized it, given our very positive experience there so far, and the opportunities we see ahead for our international business," Pritchard added. Bath & Body Works was founded in 1990 and has grown from a single store to 498 stores and 1995 sales of $475 million. The business has built a loyal following of repeat customers by providing them with a complete line of personal care products inspired by the American Heartland. Bath & Body Works has become the leader of the growing U.S. specialty store personal care product category. Bath & Body Works is a division of Intimate Brands, Inc. (NYSE: IBI), a leading retailer of intimate apparel and personal care products. The Company, through Victoria's Secret Stores, Bath & Body Works, Cacique, and Penhaligon's, as of year-end 1995, operated 1,293 specialty stores and distributes intimate and other women's apparel internationally through the Victoria's Secret Catalogue. -0- 4/3/96 /CONTACT: Debbie Mitchell of Intimate Brands, Inc., 614-479-7546/ (IBI) CO: Intimate Brands ST: Ohio IN: REA SU: PER -0- (PRN) Apr/03/96 17:34 EOS (PRN) Apr/03/96 17:34 86 â -0- (PRN) Apr/03/96 17:49
BATH & BODY WORKS ANNOUNCES WORLDWIDE SEARCH FOR EXECUTIVE TO
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