COLUMBUS, Ohio, April 14 /PRNewswire-FirstCall/ -- Limited
Brands, Inc. (NYSE: LTD) announced today next steps for its
international strategy.
Limited Brands Canada and La Senza
Limited Brands 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
and Body Works, Victoria's Secret
Pink and Victoria's Secret
(launching later this year).
(Logo:
http://www.newscom.com/cgi-bin/prnh/20020520/CLM001LOGO)
In addition to her current role as president of La Senza,
Joanne Nemeroff has been named
president of Limited Brands Canada.
"We believe a Canadian-based team dedicated to the execution of
our brands will provide a foundation for effectively leveraging
talent and resources across key operating disciplines. Our
Canadian team, being close to the stores they support, will be most
efficient and ensure a consistent, satisfying customer experience
across all stores in the country," said Martin Waters, president of international for
Limited Brands.
Additionally, the company will consolidate the creative and
merchant leadership of its international businesses to the Limited
Brands World Headquarters in Columbus,
Ohio, to better support customers and associates. As a
result, La Senza's creative and merchandising functions will
relocate to Columbus. This
structure will better connect La Senza to enterprise resources and
support its advances in product, store experience and brand
position.
La Senza's financial, legal, human resources, distribution,
technology and all other key operational functions will remain in
Canada and report up to Limited
Brands Canada.
"These changes advance our international growth strategy,
strengthen our international operations and organization, and lay
the groundwork for accelerating La Senza into the next stage of the
brand's growth," said Leslie Wexner,
chairman and chief executive officer of Limited Brands.
Middle East
Limited Brands also announced today a franchise partnership with
M.H. Alshaya, Co. to operate stores in the Middle East. Under this agreement,
initial plans are to open Bath and Body Works stores later this
year in the region.
"As we grow our business with the support of M.H. Alshaya and
its leadership, we will benefit from their success and knowledge as
we strive to provide these new customers with an emotional
experience that is true to our brand," said Wexner.
ABOUT LIMITED BRANDS:
Limited Brands, through Victoria's Secret, Pink, Bath & Body
Works, La Senza, C.O. Bigelow, White
Barn Candle Co. and Henri Bendel,
presently operates 2,967 specialty stores. The company's
products are also available online at www.VictoriasSecret.com,
www.BathandBodyWorks.com,, www.LaSenza.com and
www.HenriBendel.com.
ABOUT M.H. ALSHAYA, CO.
M.H. Alshaya Co. is a leading international franchise operator
for more than 55 of the world's most recognized retail brands,
including Starbucks, H&M, Mothercare, Debenhams, American
Eagle, Pottery Barn, Pottery Barn Kids, P.F. Chang's, Office Depot and Boots. The
company operates 1,800 stores across 7 divisions: Fashion &
Footwear, Health & Beauty, Food Services, Optics,
Pharmaceuticals, Office Supplies and Home Furnishings.
M.H. Alshaya Co. stores can currently be found in 15 markets
across the Middle East,
North Africa, Turkey, Cyprus, Russia, Poland, Slovakia and Czech
Republic. It employs more than 18,000 people from over 60
nationalities. M.H. Alshaya Co. is the retail business of the
Alshaya Group (www.alshaya.com), which was founded in Kuwait in 1890.
SOURCE Limited Brands, Inc.