L Brands, Inc. operates as a specialty retailer of women’s intimate and other apparel, beauty, and personal care products and accessories. The company sells its merchandise through company-owned specialty retail stores in the United States (U.S.), Canada and the United Kingdom (U.K.), which are primarily mall-based, and through its Websites, catalogue and other channels. Its other international operations are primarily through franchise, license and wholesale partners. Segments The company has two segments, Victoria’s Secret and Bath & Body Works. Victoria’s Secret Victoria’s Secret, including Victoria’s Secret PINK, is a specialty retailer of women’s intimate and other apparel with fashion-inspired collections, prestige fragrances, celebrated supermodels and world-famous runway shows. The company sells its Victoria’s Secret products at approximately 1,000 Victoria’s Secret stores in the U.S., Canada and U.K. and online at www.VictoriasSecret.com. Additionally, Victoria’s Secret has approximately 200 stores and various small-format locations in 60 countries operating under franchise or wholesale arrangements. Bath & Body Works Bath & Body Works is a specialty retailer of home fragrance and personal care products, including shower gels, lotions, soaps and sanitizers. The company sells its Bath & Body Works products at approximately 1,600 Bath & Body Works stores in the U.S. and Canada and online at www.BathandBodyWorks.com. Additionally, Bath & Body Works has approximately 50 stores in 14 countries operating under franchise arrangements. Other Brands La Senza is a specialty retailer of women’s intimate apparel. The company sells its La Senza products at approximately 150 La Senza stores in Canada and online at www.LaSenza.com. Additionally, La Senza has approximately 330 stores in 30 countries operating under franchise and licensing arrangements. Henri Bendel sells upscale accessory products through its New York flagship and 28 other stores, as well as online at www.HenriBendel.com. Franchise, License and Wholesale Agreements In addition to its company-owned stores, its products are sold at franchise and other locations throughout the world. The company has franchise, license and wholesale agreements with unaffiliated partners to operate Victoria's Secret, Bath & Body Works and La Senza stores throughout the world. Under these agreements, third parties operate stores that sell its products under its brand names. Seasonality The company’s operations are seasonal in nature and consist of two principal selling seasons: Spring (the first and second quarters) and Fall (the third and fourth quarters). The fourth quarter, including the holiday season, accounted for approximately one-third of its net sales for 2013 and is typically its most profitable quarter. Accordingly, cash requirements are highest in the third quarter as its inventories build in advance of the holiday season. Significant Events In April 2014, The O Alliance launched a new consulting firm that leverages a network of transformational practitioners with expertise in the critical areas that will empower retailers and drive profitable growth. History L Brands, Inc. was founded in 1963.
l brands inc (LTD:German Stock Exchange)
Three Limited Parkway
Columbus, OH 43230
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