Leslie H. Wexner, ceo of L Brands (Columbus, Ohio), spoke to investors this week about the importance retail stores play in a businesses’ success. Retailers must keep opening stores and remodeling old ones, rather than solely relying on the Internet to drive sales.
“This is way bigger than the Internet,” Wexner said. “Although it’s not as sexy — that you just remodel a 10-year store and lift its sales — but it should be.”
Wexner pointed to the remodeling of Victoria’s Secret stores over the past seven years and how those refreshed environments have lifted sales.
During the presentation, the company also shared plans to open a global flagship store for Victoria’s Secret next fall in New York on Fifth Avenue.
It also shared plans to open 39 Bath & Body Works stores and remodel 150 others.
Wexner added, “If you build the brand, the Internet will follow.”