Early Life and Education
Leslie Herbert Wexner was born on September 8, 1937, in Dayton, Ohio, to parents Bella and Harry Louis Wexner, who were of Russian-Jewish origin. Wexner attended Bexley High School and Ohio State University, where he graduated in 1959 with a business administration degree. During his time at Ohio State, he was a member of the Sigma Alpha Mu fraternity and served in the Air National Guard.
Rise to Success
Wexner's retail career began in his parents' clothing store, "Leslie's." In 1963, with a $5,000 loan from his aunt and a matching bank loan, he founded The Limited, focusing on moderately priced merchandise. The first store opened in Upper Arlington, Ohio. The Limited expanded rapidly, reaching 100 stores by 1976. Wexner acquired Victoria's Secret in 1982, transforming it into a global brand. He built a large retailing and marketing conglomerate, including Pink, Bath & Body Works, Henri Bendel, and La Senza.
Key Business Strategies
Wexner's key business strategies included focusing on fast-moving fashion items. In 1982, Wexner acquired Victoria's Secret for $1 million, which later became a billion-dollar company. He expanded The Limited in the 1970s, buying Mast Industries in 1978 to gain a significant advantage over competitors. The acquisition of Mast Industries allowed Wexner to respond rapidly to consumer demand.
Philanthropy
Wexner has been involved in philanthropy throughout his career. In 1989, Wexner and his mother, Bella, were the first to donate $1 million to the United Way. He has also been a major funder of the Wexner Center for the Arts at Ohio State University, named in honor of his father. Wexner established the Wexner Foundation in 1984, which runs graduate and Israel fellowship programs.
