Forty years ago, Leslie H. Wexner, always an avid reader, made the decision to eschew fiction in favor of history and biographies because, in his view, reality was much more compelling than make-believe. Yet Wexner’s personal tale is the stuff that dreams are made of. In 1963, Wexner borrowed $5,000 from his aunt to start The Limited, a clothing store geared towards young women. First-year sales soared to $160,000. Just six years later, Wexner took the company public, with shares of The Limited offered at $7.25. Today, the stock trades in the mid-60s range, and Wexner’s company, L Brands Inc., has evolved into a $10 billion retail powerhouse in the personal care and lingerie segments through its superstar formats: Bath and Body Works and Victoria’s Secret, as well as Pink, Henri Bendel and La Senza. The 76-year-old self-made billionaire is the longest-serving chief executive of a Fortune 500 company, and he remains as vitally involved in the business today as when he founded the company 50 years ago. He’s also as outspoken as ever—most recently sparking a fierce industry-wide debate when he proclaimed department stores irrelevant.
Whether or not you agree with Wexner on that particular point, his impact on beauty and retailing is undisputed. And for a year that saw so much activity in the retail arena, we could think of no more-fitting honoree for WWD Beauty Inc’s 2013 Visionary of the Year award. Wexner recently sat down for a rare—and revealing—in-depth interview with WWD’s executive editor of beauty, Pete Born.
Exclusive: @isabelmarant and @lorealmakeup have teamed up to create a capsule makeup collection. "She is rather natural in the day but doesn't have time to go back home before going out [in the evening] and redo her entire beauty look," said Marant on the 5 products included in the collection, which will launching in September. Read @jenniferbethweil's interview with the designer on WWD.com. #wwdnews #wwdbeauty
After 17 years, Tomas Maier is leaving @bottegaveneta. “I am deeply grateful to him and I personally thank him for the work he accomplished, and for the exceptional success he helped to achieve,” said François-Henri Pinault, head of parent company @kering_official. Head to WWD.com for more on his departure. #wwdnews #wwdfashion (📷: Davide Maestri)
@shaymitchell is no stranger to teaming up with beauty brands, but she’s made her latest partnership official: She’s signed with @buxomcosmetics as global creative brand ambassador, WWD learned exclusively. Mitchell and Buxom will collaborate on campaign development, social media strategy and content and new product and shade development. Read more on WWD.com. #wwdbeauty (📷: @clint_spaulding)
Today we’re at the WWD Retail 20/20 Forum where industry leaders will be talking about the future of shopping for fashion, footwear and beauty. Tune in on Instagram Live at 9 am and 3:30 pm to hear from two of our speakers –– @therealreal’s Rati Levesque and @bandier’s Stephen Ippolito. #wwdsummits (📷: @elizaflorendo)
Seen last night at @coach’s launch party for “Life Coach,” an interactive pop-up in Soho: @joansmalls. Open now, visitors of the pop-up can engage in themes of “creativity and self-expression,” through tarot, carnival games, live performances and art. See the rest of the party pics on WWD.com. #wwdeye (📷: @vnina)
“We figure there’s enough cynicism to go around the world right now let’s go out there and be ourselves, let’s be enthusiastic, let’s have positive energy, which is something I think a lot of people really want and need right now,” said musician @joshgroban ahead of hosting the Tony Awards with @sarabareilles. Read @leighn’s interview with Groban on how he picked his look for the night, his next record and more on WWD.com. #wwdeye #tonyawards (📷: @vnina)
“Rock as an attitude and not a uniform. Street as a style and not just clothing. Sportswear as the new normality,” @paul_surridge said of his first @roberto_cavalli men’s wear collection, previewed here. The British designer joined the brand as the creative director in May 2017, and is gearing up to unveil his debut for the label with a runway show at the Florence Charterhouse on June 13 at #PittiUomo. Head to WWD.com to read more about his collection and see more sneak peek photos. #wwdfashion (📷: @simonelezzi)