Top Challenge Facing the Company

The top challenge facing Limited Brands is a challenge that is facing many businesses and individuals right now: the current financial market. This directly and drastically affects Limited Brands because they are in a consumer market that relies on the spending of people. Limited Brands is not in the business of making necessities and clothing, accessories, and beauty products often suffer cut backs when people are experiencing financial stress.

The difference between Limited Brands and any other company, is the fact that they keep their audience in mind at all times. Some of the companies under Limited Brands are more affordable than others, and those stores are successful at offering quality products at low to moderate prices. From my experience, it seems that every time I walk into a Victoria’s Secret or Bath and Body Works, the store has several sale and clearance items. They also offer incentives to their loyal customers by offering percentages off when they shop in the store. This keeps there consumers faithful and coming back for more. When times get tough, shopping doesn’t have to with a corporation like Limited Brands.

Photo Adapted from: Victoria’s Secret

Target Publics of Limited Brands

Limited Brands has a saying that has been incorporated in its values: “The customer rules!” By this they mean, ”everything we do must begin and end with an insatiable drive to anticipate and fulfill our customers’ desires.”

While some lines under the Limited Brands name offer products for men, their target audience is definitely women. All six lines offer products that women use all day, everyday. They try to attract men by proving they are a great place to get gifts for girlfriends and wives. Women, though, know they can go into any Limited Brand-owned store and find something for themselves, their mothers, their sisters, their friends, etc.

Some Limited Brands stores are more high-end than others, i.e. Henri Bendel (LOVE this store). This target public is going to be a more wealthy one than the affordable Victoria’s Secret. Limited Brands does a good job of offering products to all income ranges and this is another reason why the company is so successful.

Limited Brands and Grunig and Hunt

James Grunig and Todd Hunt felt it was important for companies to know and understand which model(s) of PR they followed. According to these two, there are four models. There is the Press Agentry/ Publicity Model, Public Information Model, Two-Way Asymmetric Model and Two-Way Symmetric Model. Based on the definitions of these models, I believe that Limited Brands best follows the Two-Way Symmetric Model. This means “the PR practitioner conducts research to determine the views of a particular constituency and then uses that information to help achieve the objectives of both the client organization and the constituency” (Doorley and Garcia, 2007).The basis of my belief is the fact that Limited Brands finds receiving feedback from consumers just has important as sending information out to those consumers, so that rules out the Two-Way Asymmetric Model. While Limited Brands wants to get as much publicity as possible, the company cares about its perception and does not want its name out there just for the sake of being out there, so that rules out Press Agentry Publicity Model. The Public Information Model tends to apply to government agencies and nonprofits, so that does not pertain to Limited Brands.

Doorley, J, & Garcia, H (2007). Reputation Management. New York, NY: Routledge.

 

Limited Brands and the Weather Crisis

Limited Brands provides hotlines that associates can call to find out about how the weather and criseswill effect the work day, which is pretty impressive to me. Through a connection on LinkedIn, I spoke with a former employee of Limited Brands who happened to work there during the Hurricane Katrina catastrophe. This is what he had to say:

“[Limited Brands] was on it immediately.  They sent an email to all employees alerting us that many of the [Limited Brands] associates would be effected and telling us to stay tuned for any developments.  Then they updated us as necessary.  They worked hard to identify all of the associates that were going to be impacted and prepared to assist them.  They also let us know what they were preparing and ready to do for those associates including finding places for them to work and letting us know where and how to donate money.  They also made us aware of the volunteer organizations that were involved and how we could get involved with them.”

He went on to say he “was impressed as an employee at how quickly [Limited Brands] was on top of this and how quickly they formulated a plan to help all of those involved.”

I was really impressed with Limited Brands after reading what this former employee had to say. They even tried to accommodate those who wanted to take time off to volunteer in the recovery efforts. Who wouldn’t want to be involved in a company like that? At least you know you’d be taken care of in case of an emergency!

The soft side of Limited Brands…

One aspect I set out on researching was the philanthropic side of Limited Brands. As I expected, Limited Brands is highly involved in its communities. The company feels a social responsibility to its employees, its consumers and even those who have never been involved with the company. There is a page on their website dedicated to community news that can easily show all the things the comany does to help others. The company is highly involved in the communities in which it has offices. They give back by providing monetary donations to women’s shelters and organizations that will aid in the literacy development of children. The company is also very involved in a tutoring program in Columbus, Ohio.

“Giving Back has always been an important part of the way we do business at Limited Brands, and I believe that in reaching out and giving to others, we enrich all our lives.”       — Les Wexner, chairman and CEO

Awards Received by Limited Brands

2007 Awards

·EPA award: Environmental Excellence Award

· Canadian Boreal Institute: Boreal Award

· National Black MBA Association: Corporate Partner of the Year

· Investor Relations Magazine: Best Investor Relations Officers, Grad Prix Best Overall Investor Relations

2006 Awards

· Investor Relations Magazine: Best Investor Relations Officers

2005 Awards

· EPA Gold Achievement Awards: Unique Packaging Reduction Program, Waste Wise Program

· International ARC Awards: Silver Winner Overall Annual Report

· Investor Relations Magazine: Grand Prix Best Overall Investor Relations, Best Investor Relations Officers, Best Investment Community Meetings, Best Senior Management Communications, Best Use of Technology, Honorable Mention: Best Annual Report, Honorable Mention: Best Investor Relations Website

2004 Awards

· International ARC Awards: Gold Winner: Overall Annual Report

· Investor Relations Magazine: Grand Prix Best Overall Investor Relations, Best Investor Relations Officers, Best Senior Management Communications, Best Disclosure Policy, Best Use of Technology, Best Investor Relations Website, Honorable Mention for Best Investment Community Meetings, Honorable Mention for Best Annual Report

2003 awards

· Investor Relations Magazine: Grand Prix Best Overall Investor Relations, Best Investor Relations Officers, Best Senior Management Communications, Best Use of Technology, Best Corporate Governance, Best Investor Relations Website, Honorable Mention for Best Investment Community Meetings, Honorable Mention for Best Investor Relations Website, Honorable Mention for Best Corporate Advertising

· Limited Brands Named World’s Most Admired Specialty Retailer by FORTUNE Magazine: Limited Brands, Inc, has been named the world’s most admired specialty retailer by FORTUNE magazine in its annual compilation of outstanding companies in the world.

· Victoria’s Secret Direct Receives 2002 Enterprise Spirit Award: Victoria’s Secret’s Kettering, Ohio Call Center recognized by local Chamber of Commerce for community contributions

· Electronic Media; Web Sites Masters Award: Limited Brands Website

2002 awards

· Limited Brands Given Special Recognition by Africa-America Institute (AAI): Due to its leadership role in helping expand garment production in the Sub Saharan Africa Region to more than $1 billion in 2002.

· Limited Brands Named “Silver Ribbon” Company by Catalyst Magazine: Limited Brands has been selected by Catalyst as a recipient of its “Silver Ribbon” award, which recognizes Fortune 500 Companies with 25 percent or more women corporate officers. Limited Brands was one of only 60 companies to receive the award for 2002.

· Reuters II Investor Relations Ranking

· The Fashion Group International 19th Annual Night of Stars: Corporate Stargazer Award Victoria’s Secret

· Ohio 200 Awards: Ohio Business magazine awards its top ranked Ohio 200 companies

· Visual Merchandise & Store Design Magazine Awards Limited Brands the Peter Glenn Retailer of the Year for Retail Design and Store Display Excellence

· 2002 Nicholson Awards Competition: 2001 Annual Report “Best In Industry” Retail Specialty Lines

· William D. Littleford Award for Corporate Community Service: Limited Brands & Executive Technology

· 2002 American Society of Professional Communicators Annual Report: Awards Competition has been named a winner of the Colonial Award for Excellence in the “Front Cover” category

· Executive Technology Magazine Community Service Award

· Investor Relations Magazine: Best Senior Management Communications, Honarable Mention for Grand Prix, Best Overall Investor Relations, Best Use of Technology, Best Website

· Victoria’s Secret Beauty Awarded the FIFI Award for VERY SEXY FOR HIM and PINK Fragrance by the Fragrance Foundation (NYC)

2001 awards

· TriVersity 2001 Top 100 Retailers: Outstanding Achievement in Retail Excellence

·Victoria’s Secret Beauty Awarded the FIFI Award for Dream Angels Heavenly Fragrance by the Fragrance Foundation (NYC)

2000 awards

·2000 Nicholson Awards Competition: 1999 Annual Report “Best In Industry” Retail Specialty Lines

·A Better Chance Corporation Recognition Award: A Better Chance, the national resource for identifying, recruiting and developing leaders among academically gifted students of color

1998 awards

·1998 Nicholson Awards Competition: 1997 Annual Report “Best In Industry” Retail Specialty Lines

 

Adapted from: Awards and Recognition

 

I think the goal of the company is not to flaunt its awards received, but to seek them for its own corporate satisfaction. The awards do aid in their becoming a Fortune 500 company, but they do not use these awards in promotion campaigns.

 

 

I still want to work there…

After my research and analysis of Limited Brands, I am more likely to want to work there. My research didn’t change my perception of the company, it just enhanced it. I still believe that Limited Brands is one of the best corporations on the Fortune 500 list, but now I have more information to back my opinions up. Before the project, I really liked the six companies that made up the corporation separately. Now that I know more about the corporation as a whole, and what they are doing to better themselves, their employees and the community, I not only like Limited Brands, I respect Limited Brands.

I think there is a lot to learn from a company of this stature. Limited Brands has been in the making for over forty years, and they have definitely experienced ups and downs. While I do still believe that there are things that be improved upon, this company is dooing what it needs to do in order to reach its public and get its product where they want in.

I hope that I can work with the communications department of the company because I feel that I would get hands on experience in every aspect of public relations. This company uses PR for event planning, writing pieces such as press releases and fact sheets, creating relationships  with the media and crisis management. I think after working in that environment, I could tackle anything in the world of PR.

History of Limited Brands

 

2007	Completes the sale of the majority interest in the apparel brands, Express and Limited Stores
2007	Celebrates 25th anniversary as a NYSE listed company
2007	Increases share repurchase program to $1 billion.
2007	Acquires La Senza Corporation, a leading Canadian and international intimate apparel retailer based in Canada.
2006	Collective value for share repurchase programs over last ten years reaches approximately $6.3 billion.
2006	Announces additional $100 million share repurchase in July.
2006	Completes 4.7 million share repurchase valued at over $113 million.
2005	Completes 17 million share repurchase program valued at $390 million.
2005	Increases annual dividend 25% to $0.60 per share.
2005	Limited Brands announces reorganization into three business groups: lingerie, beauty and personal care, and apparel.
2004	Limited Brands completes sale of its remaining interest in Galyan’s Trading Company.
2004	Limited Brands issues a $500 million special dividend ($1.23 per share).
2004	Limited Brands completes share repurchases that collectively exceed $3 billion.
2004	Increases annual dividend 20% to $0.48 per share.
2003	Limited Brands completes sale of its remaining interest in Alliance Data Systems.
2003	Limited Brands named the world’s most admired specialty retailer by FORTUNE magazine in its annual compilation of outstanding companies in the world.
2002	Limited Brands announces definitive agreement to sell Lerner New York/New York & Company. The terms include $78.5 million cash at closing, a $75 million subordinated note, and warrants for 15% of the common equity of the new company.
2002	The Limited, Inc. changes its name to Limited Brands to further emphasize the Company’s commitment to building a family of the world’s best fashion brands.
2002	Aura Science, a new prestige beauty brand resulting from the Intimate Beauty Corp./Shiseido joint venture, opens its first concept store at Easton Town Center in Columbus, Ohio.
2002	The Limited, Inc. and Intimate Brands, Inc. recombine into The Limited, Inc.
2001	The Limited, Inc. announces the integration of Structure into Express as a dual gender brand for both men and women.
2001	Limited Brands completes sale of Lane Bryant.
2000	Intimate Beauty Corporation and Shiseido Co., Ltd. form joint venture to develop, market and sell new lines of prestige beauty products for sale in free-standing stores.
1999	The White Barn Candle Co. is launched by raising an old-fashioned barn in New York City’s Bryant Park.
1999	The Limited, Inc. completes spin-off of Limited Too and sells majority of interest in Galyan’s.
1998	Victoria’s Secret launches e-commerce site VictoriasSecret.com, profitable since day one.
1998	The Limited, Inc. completes split-off of Abercrombie & Fitch.
1998	50 Bath & Body Works Home stores are converted to The White Barn Candle Co. stores to begin a home fragrance brand test.
1998	Intimate Beauty Corporation, is created to develop and build a portfolio of distinct beauty businesses. Victoria’s Secret Beauty is the first brand in its portfolio.
1995	Initial Public Offering of Intimate Brands, Inc. establishes it as a fully independent company.
1990	Bath & Body Works opens first store in Boston.
1990	First Structure store is opened. Two years later it becomes its own division.
1988	Limited Too, fashion for girls, is unveiled in Limited Stores.
1988	25 Abercrombie & Fitch stores and one catalogue are acquired for $46 million.
1987	Express Men’s brand is sold in 16 Express stores. Two years later it is renamed Structure.
1985	798 Lerner stores are acquired for $297 million.
1985	One Henri Bendel store is acquired for $10 million.
1982	Victoria’s Secret store and catalogue are purchased for $1 million.
1982	Lane Bryant is purchased and consists of 207 stores and a mail order division, Brylane. Lane Bryant was sold to Charming Shoppes for $335 million in July 2001.
1982	The Limited, Inc. is listed as LTD on the New York Stock Exchange.
1980	First Limited Express opens in Chicago. Two years later, Express becomes the first separate division of Limited Brands.
1977	The Limited moves into its Morse Road headquarters in Columbus, Ohio.
1969	The Limited’s first public stock offering is issued over-the-counter. 47,600 shares are offered at $7.25 per share.
1963	The Limited opens its first store in Kingsdale Mall in Columbus, Ohio.

Adapted From: Limited Brands Historical Timeline

Limited Brands Press Room

Limited Brands offers a press room open to the public. The page is divided into five sections including a section where consumers can sign up for free email alerts about Limited Brands news. The other sections are made up of a corporate profile, history and featured news. I found the newsroom to be quite helpful because everything one could want in order to stay up-to-date with the company is easily accessible from this page. The corporate profile allowed me to learn more about how the company started and how it has evolved other the past years. The history portion goes into more depth about what the individual branches of the company have done since the establishment of Limited Brands. The featured news section is truly a news section that lists chronologically the latest news pertaining to the company, its employees and its consumers.

Career Opportunities at Limited Brands

Public Relations and Corporate Communications Career Opportunities  While Limited Brands does offer positions in these fields, there are currently no openings. I did, however, find some employees of Limited Brands on LinkedIn and these were their titles: Public Relations Assistant at Victoria’s Secret Associate VP, Internal Communications at Limited Brands Internal Communications Manager at Limited Brands Associate VP, External Communications at Limited Brands Director of Community Relations, Limited Brands

Current Marketing Career Opportunities

Associate Marketing Manager for Bath & Body Works            Columbus, OH

Senior Marketing Coordinator, Digital Experience, Pink            Columbus, OH

Director, Customer Marketing for Limited Brands                     Columbus, OH

Art Director for Bath & Body Works                                       Columbus, Oh

Front-end Web Developer for Victoria’s Secret                        New York, NY

Market Visual Manager for Victoria’s Secret                            Los Angeles, CA

Manager of Brand Development for Victoria’s Secret               New York, NY