In a move to support its expansion plans in Canada, Limited
Brands Inc. (LTD) will set up a new unit in Montreal.
The U.S. retailer also announced plans for expansion in the
Middle East.
Its new Limited Brands Canada unit 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, which is launching later this year.
Limited Brands purchased Canadian lingerie retailer La Senza in
early 2007 for C$710 million, but waited a little more than a year
and a half before bringing its other banners to Canada. It started
with Bath and Body Works in 2008.
Joanne Nemeroff has been named president of the new unit.
In the Middle East, Limited Brands said it has reached a
franchise partnership with international franchise operator M.H.
Alshaya Co. Initial plans are to open Bath and Body Works stores in
the region later this year.
Limited Brands also plans to consolidate the creative and
merchant leadership of its international businesses at its
headquarters in Columbus, Ohio, which means La Senza's creative and
merchandising functions will relocate to Columbus. La Senza
remaining key operational functions will remain in Montreal and
report to the new unit.
U.S. retailers are slowly looking to expand internationally in
the wake of the recession, and some are setting their sights on
Canada to restart growth. J.Crew Group Inc. (JCG) is scouting its
first non-U.S. locations. Limited Brands, in addition to bringing
Victoria's Secret to Canada, has plans to double its Bath &
Body works stores in the country by year-end. Gap Inc. (GPS) is
also opening more outlet stores.
-By Judy McKinnon, Dow Jones Newswires; 416-306-2100;
judy.mckinnon@dowjones.com