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.
/CONTACT: Debbie Mitchell of Intimate Brands, Inc., 614-479-7546/
CO: Intimate Brands
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