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Limited Brands

4490 Final Project

Wanting chen

on 18 April 2013

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Transcript of Limited Brands

Agenda Questions? Presented by
Wanting Chen
Joshua Dunch
Jeong Yeon Kim
Sara Wu
Jie Xiao Brands Foundation of "The Limited" Acquisition of
Henri Bendel 1990 First
Bath & Body Works
store opens
in Boston 1998 Launch
VictoriasSecret.com 2002 The Limited, Inc. changes name to Limited Brands. Pink division of Victoria Secret launched 2008 Victoria's Secret
makes history with
30 second Valentine's
Day ad during
Super Bowl XLII 2009 First six Victoria's Secret
Travel and Tourism stores
in airports and
tourist destinations
around the world 2012 First Victoria's Secret
full-assortment stores
in the U.K. (London) Victoria's Secret
store and
catalogue are
for $1 million

The Limited, Inc. is
listed on the NYSE New
in Columbus, Ohio 1982 Timeline 1985 1977 1963 Timeline Business Strategy Acquisition of
La Senza
to enter Canadian market 2007 Corporate Strategy Corporate Diversification Completes split off of Abercrombie & Fitch Completes sale of majority interests in "Express" and "The Limited" stores 1980 First Limited Express opens and becomes the first separate division. Two years later,the man's band is renamed Structure 1988 Acquired
Bath & Body Works Leading brand in the personal care industry
Target segment is women from pre-teen to adult Victoria's Secret Lingerie/intimate apparel to female customers
For middle class, young to middle aged woman
Using high profile model to endorse their product PINK Lingerie line focus on high school and college aged women
Brighter colors and trendy prints appealing to more casual market Henri Bendel Upscale women's specialty store based in NYC
Sells fashion accessories, cosmetics and fragrances and gift items such as candles
Target segment is women, ages 18 to 34 who are modest shoppers La Senza Leading Canadian intimate and lingerie apparel retailer
Seeking the hottest trends in underwear
Focusing on lingerie,nightwear,lounge wear,day wear and accessories Corporate Social Responsibility Bath & Boday Works enters into North America and Midlle East market Product Differentiation Corporate Strategy Diversification Six Forces Model & VRIO Corporate Social Responsibility Corporate Values- Consumer-oriented
Responsibility Environmental Footprint
Community Activity External Analysis Six Forces Model Intensity of Competition

Special retail industry is relatively stagnant with slow growth - must constantly compete to gain market share HIGH Bargaining Power of Suppliers LOW Lots of suppliers competing to supply for Limited Brands

Firms are price sensitive and low switching costs Bargaining Power of Buyers HIGH LOW switching costs

Lots of competitors to choose from Threat of Substitutes MEDIUM Outside: few substitutes

Inside specialty retail market: Ex. A&F, American Eagle, The Body Shop, Express, Gap, The Limited, Hanesbrands Inc... Threat of Potential Entry MEDIUM Early-mover and larger firms act as barriers to entry Brand loyalty
Economies of scale But, small/medium competitors can still gain some market share Complements LOW-MEDIUM Very few products/industries add value outside of special retail industry TEMPORARY PROFITS/ SUSTAINED COMPETITIVE ADVANTAGE WALMART - LOW COST Strategy Two Factors 1.Distribution/Logistics 2.Inventory Management asgadgagd gsdhshsfgfdsg Yes Rarity Yes Company products are easily imitable (but have not seen any firms be as successful as Limited Brands- customer loyalty and brand image) Organization Value NO Yes Tangible and intangible assets are VALUABLE (Ex. Mast Global- logistics) Products are not rare
But established customer base and brand image of their product lines are RARE Company policies and resources match with organization's goals and structure YES Goals Looking Forward Evidence and Results History Divestitures and Spin-Offs History Internal Analysis A&F split off (1998) Limited Too spin off (1999) Express and Limited Stores sold (2007) Leslie H. Wexner (1937- )
1959- Graduated from The Ohio State University (Business Administration) “I don’t believe bigger is better, I believe better is better. Period.” - Leslie Wexner Less brands with more focus on those they still operate Leslie and his father had different ideas about how their business should be run Move from related-linked to related-constrained VRIO The Limited Sales were $165,000 in the first year The circle represents the time shortly after the sell off of A&F Rectangle represents time shortly after Express and Limited Stores Ex. Entertainment Industry: VS Angels, VS Fashion Show and movies reference lingerie - consumers may subconsciously think of Victoria's Secret Community $110 million to United Way since 1997 2012:

$5.7 million raised for Pelotonia (largest supporter)

15,000 associate hours donated to United Way alone! Recycling and Reuse Recycled over 9,000 tons of materials

Reused 8,600 tons

Sample sale constituted 3,000 tons

Product donations to teachers, artists, and non-profit groups Ex. Target, Wal-Mart Environment >10% post consumer waste in catalogs and ability to opt out of catalogs if desired Replaced over 42,000 light bulbs in 900 stores in 2009-2010 with energy efficient Temperature settings adjusted for lower energy consumption (esp. at night when nobody in stores) Replaced corporate HQ roof with innovative reflective roof to realize 15% reduction in energy usage.
Leadership in Energy and Environmental Design Silver Award(US Green Building Council) Imitability Left to help his parents run their store ("Leslie's") Attended law school briefly Then Leslie opened his own store in Upper Arlington
"The Limited"- moderate price on younger women' apparel Today:
90,900 employees
2,908 in North America
465 internationally 1965, his father closed Leslie's and became chairman of The Limited 2012
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