Full Description

Limited Brands, Inc. is a specialty retailer of women’s intimate and other apparel, beauty and personal care products and accessories under various trade names. The Company sells its merchandise through the retail stores in the United States and Canada, which are primarily mall-based, and through its Websites and catalogues. As of January 31, 2009, the Company conducted business in two segments: Victoria’s Secret and Bath & Body Works. During the fiscal year ended January 31, 2009 (fiscal 2008), the Victoria’s Secret segment operated 1,043 stores in the United States and 322 stores in Canada. The Bath & Body Works operated 1,638 stores in the United States during fiscal 2008.

Victoria’s Secret

The Victoria’s Secret segment sells women’s intimate and other apparel, personal care and beauty products and accessories under the Victoria’s Secret and La Senza brand names. Victoria’s Secret merchandise is sold through retail stores, its Website, www.VictoriasSecret.com, and its catalogue. Through its Website and catalogue, certain of Victoria’s Secret’s merchandise may be purchased worldwide. La Senza products may also be purchased through its Website, www.LaSenza.com.

Bath & Body Works

The Bath & Body Works segment sells personal care, beauty and home fragrance products under the Bath & Body Works, C.O. Bigelow and White Barn Candle Company brand names in addition to third-party brands. Bath & Body Works merchandise is sold through retail stores, its Website, www.bathandbodyworks.com, and its catalogue.

Other

Other consists of Henri Bendel, Bath & Body Works Canada, Mast and Beauty Avenues. Henri Bendel, is an operator of five specialty stores, which feature accessories, fashion and personal care products; Bath & Body Works Canada, is an operator of six specialty stores, which feature personal care, beauty and home fragrance products; Mast, is an apparel merchandise sourcing and production company serving Victoria’s Secret, La Senza and third-party customers, and Beauty Avenues, is a personal care sourcing and production company serving Victoria’s Secret, La Senza and Bath & Body Works.