Early Life and Education
Leslie Herbert Wexner was born in Dayton, Ohio, on September 8, 1937. His parents, Bella and Harry Louis Wexner, were of Russian-Jewish origin. Wexner attended Bexley High School and later the Ohio State University, where he earned a degree in business administration in 1959. During his college years, he was a member of the Sigma Alpha Mu fraternity and also served in the Air National Guard.
Rise to Success
Wexner began his career in retail, assisting in his parents' clothing store. In 1963, he opened his own store, The Limited, in Columbus, Ohio, focusing on women's sportswear. The Limited quickly expanded, and Wexner took the company public in 1969. Over the years, Wexner expanded his business through acquisitions. In 1982, he acquired Victoria's Secret for $1 million. Through astute business decisions, Wexner built a vast retail empire.
Key Business Strategies
Wexner's success is attributed to several key strategies. He focused on high-turnover items for a specific demographic (young women). He also expanded his business through strategic acquisitions, purchasing brands like Lane Bryant, Victoria's Secret, and Abercrombie & Fitch. Wexner was also known for his willingness to adapt and sell off concepts that were no longer performing well.
Philanthropy
Les Wexner is also known for his philanthropic endeavors. He and his wife, Abigail, have been involved in various charitable causes. In 1989, Wexner and his mother Bella made a $1 million donation to the United Way. Wexner is a major supporter of The Ohio State University and its Wexner Medical Center. He established the Wexner Foundation to support Jewish leaders in North America and Israel.
