L Brands, Inc (formerly known as Limited Brands Inc. and The Limited Inc.) was founded in 1963 when Leslie Wexner opened a store with a $10,000 loan. He named the store The Limited because it sold only younger women’s clothing, in contrast to his parents’ general merchandise store. Wexner became chairman after his father’s death in 1975, and later CEO.
The Limited Brands went public on the New York Stock Exchange in 1969.
During the 1980’s the company made numerous acquisitions: Victoria’s Secret in 1982, 207 Lane Bryant stores in 1982, 798 Lerner stores and one Henri Bendel store in 1985, and 25 Abercrombie & Fitch stores in 1988.
The company owned Abercrombie & Fitch until it was spun-off into a publicly-traded company in 1996.
In the 1990’s the company developed Limited Too, Bath & Body Works, Structure, and Victoria’s Secret Beauty.
In 2007 Limited Brands transferred 75% ownership of its flagship The Limited chain to buyout firm Sun Capital Partners Inc. In 2010, the remaining shares were sold to the same firm.
L Brands, Inc. is part of the S&P 500, the Fortune 500, has 91,000 employees, and had $10.36 billion in revenue in 2011.