Who Owns Bath & Body Works, LLC Company?

Bath & Body Works, LLC Bundle

Get Full Bundle:

	SWOT	$15	$10
	5 FORCES	$15	$10
	BCG	$15	$10
	CANVAS	$15	$10
	4P's MIX	$15	$10
	PESTLE	$15	$10

TOTAL:

ADD TO CART

Who Really Owns Bath & Body Works?

Understanding a company's ownership structure is crucial for investors and strategists alike. The evolution of Bath & Body Works, LLC SWOT Analysis, from its origins to its current status, reveals a fascinating story of strategic shifts and market adaptation. This exploration unveils the key players behind this retail giant, offering insights into its past, present, and future trajectory.

From its humble beginnings as a beauty line to its current global presence, the Bath & Body Works owner story is one of significant transformation. The spin-off from L Brands in 2021 marked a pivotal moment, reshaping the Bath & Body Works corporate structure and its relationship with brands like Victoria's Secret. This article will dissect the Bath & Body Works ownership history, providing a comprehensive overview of the company's evolution and the individuals and entities that have shaped its destiny. Discover the answer to Who owns Bath & Body Works and gain valuable insights into this retail powerhouse.

The story of Bath & Body Works, a well-known name in the personal care and home fragrance market, begins in 1990. It was established as a division of L Brands, Inc., marking the start of its journey in the retail world. The company's origins are closely tied to the broader retail vision of Leslie 'Les' Wexner, who founded L Brands.

Initially, Bath & Body Works was conceived as a beauty line for Express, Inc., another retail chain under The Limited (L Brands) umbrella. The first store opened in September 1990 in a Cambridge, Massachusetts mall. This marked the beginning of what would become a significant player in the personal care industry.

Les Wexner is considered the visionary behind the broader entity that nurtured Bath & Body Works' early growth. He started 'The Limited' in 1963, focusing on clothing for younger women. The Limited Brands went public in 1969.

The Genesis

Bath & Body Works was founded in 1990 within L Brands, Inc. It was initially a beauty line for Express, Inc. The first store opened in Cambridge, Massachusetts.

Early Leadership

Les Wexner, the founder of L Brands, was the driving force behind Bath & Body Works' early development. He started The Limited in 1963.

Initial Funding

Les Wexner used a combination of personal and borrowed funds to launch The Limited. He borrowed $5,000 from his aunt and $5,000 from a bank.

Public Offering

The Limited Brands went public in 1969. They sold shares at $7.25 a share. By 2014, Les Wexner and his family still owned 17% of L Brands.

Early Store Strategy

Early Bath & Body Works stores were often connected to Express stores. This strategy facilitated customer movement between the brands.

Branding and Rebranding

In 1991, Bath & Body Works faced a lawsuit from The Body Shop. This led to a rebranding effort. A fictional founder character named 'Kate' was created.

Key Takeaways on Bath & Body Works Ownership

Understanding the Competitors Landscape of Bath & Body Works, LLC helps to grasp the company's position in the market. The initial ownership of Bath & Body Works was closely tied to L Brands, founded by Les Wexner. The company's early stores were often integrated with other brands under the L Brands umbrella, aiming to leverage customer traffic. The early history of Bath & Body Works is marked by strategic branding decisions and legal challenges, which shaped its market identity.

• Bath & Body Works was established as a division of L Brands, Inc., in 1990.
• Les Wexner, the founder of L Brands, played a crucial role in the early growth of Bath & Body Works.
• The company's initial branding strategy included a focus on a fictional founder character.
• Early stores were often located near Express stores to facilitate cross-brand shopping.

Bath & Body Works, LLC SWOT Analysis

• Complete SWOT Breakdown
• Fully Customizable
• Editable in Excel & Word
• Professional Formatting
• Investor-Ready Format

GET TEMPLATE ➔

The ownership of Bath & Body Works has seen significant changes, most notably its evolution from a subsidiary within L Brands to an independent, publicly traded entity. Initially part of L Brands, formerly known as The Limited, Inc., which went public in 1982, Bath & Body Works benefited from the parent company's expansion through both organic growth and acquisitions. The strategic direction shifted significantly when L Brands aimed to concentrate on Bath & Body Works, leading to the eventual separation of Victoria's Secret.

A pivotal moment occurred in March 2021 when L Brands declared its intention to spin off Victoria's Secret, subsequently rebranding itself as Bath & Body Works, Inc. This strategic move was finalized on August 3, 2021, marking the beginning of Bath & Body Works, Inc.'s independent trading on the New York Stock Exchange under the ticker BBWI. This restructuring underscores a focused approach on the brand's core business, aiming to leverage its market position and growth potential. For more insights, explore the Growth Strategy of Bath & Body Works, LLC.

As of May 2025, institutional investors hold approximately 100.75% of Bath & Body Works Inc. shares, while mutual funds hold about 77.82%. Insiders have increased their holdings slightly, from 0.33% to 0.35% in May 2025. Key institutional shareholders include Vanguard Group Inc. and BlackRock, Inc. The company's market capitalization was $8.3 billion at the end of 2024. This ownership structure highlights the confidence of major investors in the company's future, reflecting a strategic focus on the Bath & Body Works brand.

Ownership Insights

Bath & Body Works transitioned from being part of L Brands to becoming an independent publicly traded company.

• Institutional investors hold a significant portion of the shares.
• The spin-off of Victoria's Secret was a key strategic move.
• The company's market capitalization was $8.3 billion at the end of 2024.
• Insiders hold a small but growing percentage of shares.

Bath & Body Works, LLC PESTLE Analysis

• Covers All 6 PESTLE Categories
• No Research Needed – Save Hours of Work
• Built by Experts, Trusted by Consultants
• Instant Download, Ready to Use
• 100% Editable, Fully Customizable

GET TEMPLATE ➔

As of June 5, 2025, the Board of Directors of Bath & Body Works, Inc. consists of nine elected directors. These directors, who serve one-year terms, include Alessandro Bogliolo, Lucy O. Brady, Francis A. Hondal, Danielle M. Lee, Sarah E. Nash, Juan Rajlin, Stephen D. Steinour, J.K. Symancyk, and Steven E. Voskuil. Sarah E. Nash holds the position of Board Chair. The company has recently refreshed its Board, with a significant portion of the directors joining in or after 2019.

The company's commitment to refreshing the Board is evident in the recent changes. In 2024, the Board comprised 10 directors. If all nominees are elected at the 2025 annual meeting, approximately 90% of the directors will have joined the Board since 2019 or later, resulting in an average director tenure of 4.2 years. This turnover indicates a strategy to integrate fresh perspectives and expertise into the company's leadership.

While specific details on dual-class shares or special voting rights are not explicitly detailed, the influence of major institutional shareholders is significant. Institutional investors hold a substantial majority of the company's stock, with approximately 1011 institutional owners holding a total of 270,855,069 shares as of June 2025. This high level of institutional ownership can significantly influence corporate decision-making. For more insights into the company's background, consider reading the Brief History of Bath & Body Works, LLC.

Key Takeaways on Bath & Body Works Ownership

The Board of Directors plays a crucial role in overseeing Bath & Body Works, with a recent focus on refreshing its membership.

• The Board consists of nine elected directors as of June 5, 2025.
• Institutional investors hold a significant portion of the company's stock.
• The company aims for a proactive approach to addressing shareholder matters.

Bath & Body Works, LLC Business Model Canvas

• Complete 9-Block Business Model Canvas
• Effortlessly Communicate Your Business Strategy
• Investor-Ready BMC Format
• 100% Editable and Customizable
• Clear and Structured Layout

GET TEMPLATE ➔

In the past few years, the ownership structure of Bath & Body Works has seen significant changes. Following its spin-off from L Brands in August 2021, Bath & Body Works became an independent public company, trading on the NYSE under the ticker BBWI. This strategic move has reshaped the company's trajectory and investment landscape.

Financially, Bath & Body Works reported net sales of $7.307 billion for the fiscal year ending February 1, 2025. Despite a slight decrease from the $7.429 billion in the previous year, the company showed positive sales growth in the second half of fiscal year 2024. For fiscal year 2025, the company projects net sales growth between 1% and 3%. The company is actively pursuing product innovation, brand building, and international expansion to boost revenue and profits.

Share buybacks have been a key aspect of the company's financial strategy. In fiscal year 2024, Bath & Body Works repurchased 10.4 million shares for $400 million. In February 2025, a new share repurchase program of up to $500 million was authorized. The company's buyback yield averaged 6.8% from fiscal years ending January 2021 to 2025, peaking at 13.4% in January 2022. Furthermore, institutional investors hold approximately 100.75% of the company's shares as of May 2025. For more insights into the brand's target audience, you can explore the target market of Bath & Body Works, LLC.

Leadership Transition

Daniel Heaf was appointed CEO effective May 19, 2025, succeeding Gina Boswell. This change is crucial for guiding future growth.

Institutional Ownership

Institutional investors hold a significant stake, approximately 100.75% of shares as of May 2025, highlighting strong investor confidence.

Strategic Partnerships

A new collaboration with Walt Disney Co. is expected to boost revenue and profits in fiscal year 2025, expanding market reach.

Ownership Shifts

Lone Pine Capital closed its Bath & Body Works holdings in Q3 2024, indicating shifts in investment strategies among major players.

Bath & Body Works, LLC Porter's Five Forces Analysis

• Covers All 5 Competitive Forces in Detail
• Structured for Consultants, Students, and Founders
• 100% Editable in Microsoft Word & Excel
• Instant Digital Download – Use Immediately
• Compatible with Mac & PC – Fully Unlocked

GET TEMPLATE ➔

Related Blogs