We don’t sell products. We sell experiences
The Limited was started in 1963, when Leslie “Les” Wexner took the knowledge he had gained from growing up in his parents retail shop, and decided with a $5,000 dollar loan from family to create his own women’s specialty shop. The difference from his shop to his parents was that instead of allowing product to go stale, he would only order a select amount of each item, making his shop one of quality, and a demand of limited collections.
The shop exploded! So much so that his parents both gave up their own shop and came to invest their efforts in his genius structure. Werner went on to expand his business in the eighties, creating the Express brands as they are known today. Followed by several successful acquisitions that included the purchase of Victoria Secrets in 1982 from its founder for a small sum of only $1 million dollars, which today would equate to still the incredibly low price for a successful retailer as huge as Vicki’s of only a little over $2 million dollars. This acquisition was of course followed by everyone’s favorite shop of smells, Bath and Body Works.
Mr. Wexner has not slowed down after 50 years in the retail industry, he still actively runs his larger corporation, Limited Brands. At age 79 this self-made billionaire is worth 6.6 billion dollars, landing him as #70 on the Forbes 400. All beginning with a 5,000 dollar loan, and a brilliant idea.
Though the Limited Brands are still a booming business, there seems to be trouble in paradise for its namesake. But even if The Limited does shut down, we can honor its unique shopping experience, and vision as a stepping stone for one of the greatest retailers to emerge.
Until Next Time Fanboys and Girls—>