Limited Brands Announces Plans To Advance International Strategy

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.