Leslie Wexner: Victoria's Other Secret

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Academy of Achievement

Film, Politics, Arts, Self-help, Sports, Society & Culture, Success, Literature, Humanitarian, Military, Social Justice, Technology, Podcast, Achievement, Music, Science

4.6 • 943 Ratings

🗓️ 8 May 2017

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

This is the story of Les Wexner's path, from a tiny, old-fashioned neighborhood store in Columbus, Ohio, owned by his immigrant father... to one of the biggest retail empires in the world. His company, L Brands, now includes that lingerie giant, Victoria's Secret, as well as Bath & Body Works, and Henri Bendel. But Wexner helped innovate the very idea of a specialty clothing chain store, with his first business: The Limited. Wexner has been CEO longer than any other head of a Fortune 500 Company, and at almost 80, he's still not slowing down. (c ) American Academy of Achievement 2017

Transcript

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0:00.0	There are only two people who've been CEO at a Fortune 500 company for more than 50 years.
0:07.0	One of them is Warren Buffett. The other is Less Wexner.
0:12.0	And Wexner actually beats out Buffett by a couple of years.
0:17.0	Less Wexner of Columbus, Ohio. If his name doesn't ring a bell, it might be because Wexner doesn't like the limelight.
0:25.6	He rarely gives interviews. But try this one. Victoria's secret. There you go. That rings about. Yeah, that's just one of the businesses in Les Wexner's retail empire L Brands.
0:40.7	An empire you could say he's been building since he was 11 years old.
0:46.0	The first business that I think is interesting.
0:48.0	I would do, you know, kids do babysitting.
0:51.0	So let's say you're babysitting and you're getting paid 50 cents an hour
0:54.8	or whatever I was getting paid then and I figured out that if I could take 10 kids to the park on a
1:00.3	Saturday I could get 50 cents a kid for two hours, and so I can make $5 an hour or $10 for two hours.
1:09.1	Babysitting one on one, I'd only make a dollar for two hours.
1:13.0	So I looked back and I said I understood leverage.
1:16.0	From babysitter to billionaire bra broker,
1:20.0	try saying that one 10 times fast,
1:22.0	we'll tell you the all-American story of a self-made man on this
1:27.0	episode of what it takes. A podcast about passion, vision, and perseverance from the Academy of Achievement.
1:35.0	I'm Alice Winkler.
1:37.0	Had a name, this child is gifted,
1:41.0	and I heard that enough that I started to believe it.
1:43.8	If you have the opportunity, not a perfect opportunity and you don't take it, you may never have
1:49.3	another job.
	...

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