Limited Brands Inc. may be late to the international party, but it’s now making moves that will advance its global strategy.
The company on Wednesday said it is creating Limited Brands Canada, a Montreal-based company that will support all Limited Brands retail stores and strategic expansion in Canada, including La Senza, Bath & Body Works, Victoria’s Secret Pink and Victoria’s Secret, which is launching in Canada later this year.
Joanne Nemeroff, president of La Senza, was named president of Limited Brands Canada.
Limited Brands said it will consolidate the creative and merchant leadership of its international businesses at its corporate headquarters in Columbus, Ohio. La Senza’s creative and merchandising functions will relocate to Columbus, allowing La Senza to support product development and innovation, store experience and brand positioning. Meanwhile, La Senza’s operational functions will remain in Canada, reporting to Limited Brands Canada.
Leslie Wexner, chairman and chief executive officer of Limited Brands, said the changes lay the groundwork for accelerating La Senza’s growth.
Also on Wednesday, Limited Brands unveiled a franchise partnership with M.H. Alshaya, Co. to operate stores in the Middle East. Plans are to launch BBW stores later this year in the region.
M.H. Alshaya will likely introduce Limited to other international markets. In addition to the Middle East, M.H. Alshaya has a footprint in North Africa, Turkey, Cyprus, Russia, Poland, Slovakia and the Czech Republic. Todd Slater, analyst at Lazard Capital Markets, said Limited Brands appears to be focusing on developing economies such as China, Singapore, Brazil, Southeast Asia and Singapore. “They’ve put more than a toe in the water, but I expect the ankle, leg and the rest of the body” will go in too, he said. “International will have the potential to contribute more to earnings than the U.S. business within 10 years if they partner with the right people.”
“Our main priority is North America,” said Martin Waters, president of International for Limited Brands. “Getting our business to return 15 percent on sales domestically is an overwhelming priority. We will develop a global business over time.”
In addition to international stores, Limited Brands has a business model called TNT for travel and tourism, which consists of Victoria’s Secret beauty stores in airports and travel destinations. Waters said there are seven TNT VS shops operating in airports in markets like Brazil, Mexico, Argentina, Singapore, the U.S. and Barbados. The São Paolo unit reportedly does sales of $10,000 a square foot. “In São Paolo, that concept flies,” Waters said. “We’ll open 10 more locations in 2010.”
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)