The Limited

Not to be confused with Limited Brands.
Limited Stores
Private
Industry Clothing
Founded 1963
Headquarters Columbus, Ohio, U.S.
Number of locations
 255
Key people
 Diane Ellis, CEO
Products Shirts/tops, pants, denim, jackets, sweaters, skirts, dresses, and accessories
Parent Sun Capital Partners
Website www.thelimited.com

The Limited is an American clothing company. It is owned by the private equity firm Sun Capital Partners.

History

In 1912, Bella Cabakoff emigrated with her parents from Russia to Columbus, Ohio, to escape persecution. At 21, she became the youngest buyer for the Lazarus department store chain. However, after spending over 20 years with Lazarus, in 1951 she and her husband Harry Wexner opened a women's clothing store named Leslie's (after their son) on State Street. This store became the training ground for Leslie Wexner. In 1963, he borrowed $5,000 from his aunt and $5,000 from the bank and opened a store at the Kingsdale Shopping Center in Upper Arlington.[1] This store was named "The Limited" because the store focused on clothing for younger women, unlike his parents' general merchandise store. Later in 1964, Bella and Harry closed their store to join their son in his venture.

The original board consisted of only the three family members and longtime friend of Harry and Bella, Jim Waldron, (who served as senior vice president): Bella Wexner (who served as secretary until her death in 2001), Harry as chairman (who served until his death in 1975) and Leslie who succeeded his father as the chairman and later became CEO. He and his family continue to control 17% of LTD. In 1969, Wexner took Limited Brands public, listed as LTD on the NYSE. In 1977, The Limited moved into its main headquarters on Morse Road in Columbus, Ohio. In 2009, The Limited's headquarters moved to New Albany, Ohio, where it still operates today.

The 1980s started a string of acquisitions: In 1982, the Victoria's Secret brand, store, and catalogue were purchased from Roy Raymond for $1 million.[2] Also in 1982, 207 Lane Bryant stores were purchased. In 1985, a single Henri Bendel store was purchased for $10 million and 798 Lerner stores for $297 million. Finally, in 1988, 25 Abercrombie & Fitch stores were purchased for $46 million. The Limited then phased out its ownership of the A&F brand in 1996, when it was spun off into a publicly traded company. In 1980, Limited founded Limited Express, now known as Express.[3]

The 1990s included the initial development of the Limited Too (which was renamed Justice in 2008),[4] Bath & Body Works, Structure, and Victoria's Secret Beauty.[3] Galyan's, a sporting goods store, was also purchased. Later in 1998, several Bath & Body Works stores were converted to The White Barn Candle Company stores to begin a home fragrance brand.

On August 3, 2007, Limited Brands transferred 75% ownership of its flagship Limited chain to buyout firm Sun Capital Partners Inc. In 2010, the remaining shares were sold to Sun Capital Partners Inc.[5]

In 2013, Diane Ellis, president and chief operating officer of Brooks Brothers, became the CEO of The Limited.[6]

References

  1. ↑ Upper Arlington - Stuart J. Koblentz, Kate Erstein - Google Books. Books.google.com. 2008-05-14. Retrieved 2012-03-11.
  2. ↑ "Roy Raymond, 47; Began Victoria's Secret". New York Times. 2 September 1993. Retrieved 14 October 2012.
  3. 1 2 The Self-Destructive Habits of Good Companies - Jagdish N. Sheth - Google Books. Books.google.com. Retrieved 2012-03-11.
  4. ↑ The Value line investment survey - Google Books. Books.google.com. Retrieved 2012-03-11.
  5. ↑ Moin, David (7 August 2013). "The Limited Names Diane Ellis CEO". WWD. Retrieved 8 August 2013.
  6. ↑ "The Limited Names Diane Ellis CEO - Business Wire". www.businesswire.com. Retrieved 2016-03-25.
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