Bath & Body Works, Inc.
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 $11.9 billion in revenue in 2021, and was listed as 248 on the 2020 Fortune 500 list of largest United States companies by revenue.
| Company type | Public |
|---|---|
Traded as |
|
| Industry | Retailing |
| Founded | 1963 |
| Founder | Les Wexner |
| Headquarters | Columbus, Ohio, U.S. |
Key people | Gina Boswell (CEO) |
| Products | Clothing, fashion accessory |
| Revenue | US$11.84 billion (2021) |
| US$1.58 billion (2021) | |
Net income | US$844 million (2021) |
| Total assets | US$11.57 billion (2021) |
| Total equity | US$–662 million (2021) |
Number of employees | 57,200 (2023) |
| 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. The sale fell through in May 2020, although CEO Les Wexner did step down as planned, and was succeeded by Andrew Meslow. 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.
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".