Early Life
Leslie Herbert Wexner was born on September 8, 1937, in Dayton, Ohio. His parents, Bella and Harry Wexner, were of Russian-Jewish origin and owned a small clothing store named Leslie's in Columbus, Ohio. From a young age, Wexner was involved in the family business, which instilled in him an early understanding of the retail industry. He graduated from Ohio State University with a business degree.
Rise to Success
In 1963, Wexner started his own business, The Limited, with a $5,000 loan from his aunt and another $5,000 from a bank. The first store was opened in the Kingsdale Shopping Center in Upper Arlington, Ohio. Wexner's focus on moderately priced merchandise quickly generated revenue, and he expanded the business rapidly. Through strategic acquisitions, Wexner built a family of enterprises, including Victoria's Secret, which he acquired for $1 million in 1982.
Key Business Strategies
Wexner's innovative retail strategies, including the integration of design and quick production, were instrumental in his success. He also acquired Mast Industries, which enhanced his ability to respond to consumer demand. Over the years, Wexner expanded his business portfolio by acquiring various specialty retailers and reshaping their identities. Wexner stepped down as CEO in 2020 and announced the sale of a majority stake in Victoria's Secret.
Philanthropy
Wexner has been a significant philanthropist, particularly through the Wexner Foundation, which fosters Jewish leadership and supports educational and cultural initiatives. He has also donated to various organizations, including Ohio State University's Wexner Medical Center, the United Way, and Harvard University's Center for Public Leadership.
