Introduction
Bath and Body Works is a popular American beauty brand that specializes in bath and body care products, home fragrances, and candles. The brand has been in business for over three decades and has a massive following. However, the question that many people ask is whether Les Wexner, the founder of L Brands, owns Bath and Body Works. In this article, we will explore this question and provide you with all the information you need.
Who is Les Wexner?
Les Wexner is an American businessman who is best known for founding L Brands, a retail company that owns several popular brands, including Victoria’s Secret, Pink, and Bath and Body Works. Wexner started his career in retail in 1963 when he opened a clothing store in Ohio. Over the years, he expanded his business and acquired several other brands, making him one of the most successful retail entrepreneurs in the world.
The History of Bath and Body Works
Bath and Body Works was founded in 1990 by Leslie Wexner, the same man who founded L Brands. The brand started as a small shop in Ohio and quickly grew to become a nationwide chain. Today, Bath and Body Works has over 1,600 stores across the United States and Canada and is known for its high-quality products and unique fragrances.
Does Les Wexner Own Bath and Body Works?
While Les Wexner is the founder of L Brands, which owns Bath and Body Works, he is no longer the owner of the company. In 2020, Wexner announced that he was stepping down as CEO of L Brands and selling a majority stake in the company to Sycamore Partners, a private equity firm. As part of the deal, Bath and Body Works became a standalone company, separate from L Brands. Therefore, while Wexner played a significant role in the founding and growth of Bath and Body Works, he is no longer the owner of the company.
The Future of Bath and Body Works
With Bath and Body Works now a standalone company, many people are wondering what the future holds for the brand. However, the company’s new owners, Sycamore Partners, have stated that they plan to continue to grow and expand the brand. In fact, in 2022, Bath and Body Works announced that it would be opening 50 new stores in Canada, further expanding its reach.
Conclusion
In conclusion, while Les Wexner is the founder of L Brands, which owns Bath and Body Works, he is no longer the owner of the company. In 2020, Wexner sold a majority stake in L Brands, which included Bath and Body Works, to Sycamore Partners. Today, Bath and Body Works is a standalone company, and its new owners plan to continue to grow and expand the brand. So, if you’re a fan of Bath and Body Works, you can rest assured that the brand is in good hands and has a bright future ahead.