LBrands

Bath & Body Works, Inc. is a leading specialty retailer focused on personal care and home fragrance, operating a substantial network of stores across North America and internationally. The company’s origins trace back to 1963, when Leslie Wexner founded L Brands in Columbus, Ohio. Over the decades, L Brands became known for building iconic retail brands, most notably acquiring Victoria’s Secret in 1982 and launching Bath & Body Works in 1990. These moves helped shape the American specialty retail landscape.

A significant milestone occurred in August 2021, when L Brands spun off Victoria’s Secret into a separate, publicly traded company and rebranded itself as Bath & Body Works, Inc. Since then, Bath & Body Works has focused exclusively on its core business, expanding its footprint and product offerings. As of November 2025, the company operates approximately 1,800 stores in the United States and Canada, with additional locations internationally through franchise and wholesale partnerships.

In the last five years, Bath & Body Works has demonstrated resilience and adaptability, continuing to open new stores and pursue digital growth. The brand has expanded its reach in priority markets such as the United States and Canada, while also growing internationally via franchising. Its approach blends physical retail expansion with ongoing innovation in product categories, ensuring relevance in a competitive environment.

Bath & Body Works stands out for its consistent real estate activity, preference for high-visibility retail formats, and strong brand recognition. The company’s scale and stability make it a reliable presence in shopping centers and retail developments, and its ongoing growth posture signals continued demand for new locations. All current retail operations and real estate matters are managed under Bath & Body Works, Inc.; inquiries regarding Victoria’s Secret should be directed to the separate entity. For real estate professionals seeking to engage with Bath & Body Works, the company’s corporate website and investor relations channels are the recommended points of contact.