Les Wexner: The Rise and Fall From The Limited to Jeffrey Epstein Scandal

Jul 18, 2025

The Rise of Leslie Wexner and The Limited

Leslie “Les” Wexner, born in Dayton, Ohio, in 1937, revolutionized the retail industry. His story is one of remarkable entrepreneurial vision, transforming a small clothing store into a global retail powerhouse, but also a story of a legacy forever tainted by association with convicted sex offender Jeffrey Epstein. Understanding Wexner’s ascent is crucial to grasping the complexities of his later years.

Wexner’s initial foray into retail began in 1963 with the opening of The Limited in Columbus, Ohio. The store focused on a curated selection of women’s sportswear, capitalizing on the growing demand for fashionable and affordable clothing. This focused approach, a departure from the traditional department store model, proved to be a winning formula.

The Limited’s success was driven by several key factors:

Targeted Inventory: Wexner understood the preferences of his target demographic – young women seeking trendy and affordable clothing.
Rapid Turnover: The Limited quickly adapted to changing fashion trends, ensuring fresh inventory and encouraging frequent customer visits.
Strategic Expansion: Wexner aggressively expanded The Limited’s footprint, opening new stores across the United States.

By the 1980s, The Limited had become a dominant force in the retail landscape. Wexner diversified his holdings, acquiring brands like Victoria’s Secret, Bath & Body Works, Abercrombie & Fitch, and Express. This diversified portfolio transformed The Limited, Inc. into a retail conglomerate known as L Brands.

Wexner's innovative approach to retail earned him considerable wealth and influence. He became a prominent figure in the business world, known for his sharp business acumen and philanthropic endeavors. However, this carefully constructed image would later be shattered by his connection to Jeffrey Epstein.

Jeffrey Epstein and the Wexner Connection

The relationship between Les Wexner and Jeffrey Epstein is at the heart of the controversy surrounding Wexner's legacy. The two men met in the 1980s, and Epstein quickly became a trusted advisor and confidant to Wexner.

Epstein's influence over Wexner was considerable. He managed Wexner’s finances, acquired properties on Wexner’s behalf, and even reportedly posed as a talent scout for Victoria’s Secret models. The extent of Epstein's control is still debated, but evidence suggests a close and deeply intertwined relationship.

Key aspects of their relationship include:

Financial Management: Epstein managed Wexner’s personal finances for several years, reportedly generating significant returns on Wexner's investments.
Property Acquisition: Epstein was instrumental in acquiring properties for Wexner, including the infamous Ohio mansion where some of Epstein's alleged abuses took place.
Power of Attorney: Reports indicate that Epstein held power of attorney over Wexner's affairs, granting him significant control over Wexner's assets and decisions.
Personal Relationship: Beyond business, the two men shared a personal relationship, traveling together and socializing in exclusive circles.

The exact nature of their relationship remains a subject of intense scrutiny. While Wexner has stated that he was “betrayed” by Epstein and severed ties with him after learning of his crimes, the association has irrevocably damaged Wexner's reputation.

The Epstein Scandal and Its Impact on L Brands

The revelations about Jeffrey Epstein's sex trafficking crimes and his close ties to Les Wexner sent shockwaves through L Brands. The scandal triggered intense public backlash, prompting calls for boycotts of L Brands' brands and demands for Wexner to step down.

The impact of the scandal on L Brands was multifaceted:

Reputational Damage: The association with Epstein tarnished the image of L Brands and its flagship brands, particularly Victoria's Secret.
Financial Losses: The scandal contributed to declining sales and a drop in L Brands' stock price.
Leadership Changes: Wexner eventually stepped down as CEO of L Brands, although he remained chairman emeritus for a period.
Brand Transformations: L Brands underwent significant restructuring, including the spin-off of Victoria's Secret into a separate publicly traded company.

The Victoria's Secret brand, in particular, suffered greatly due to the scandal. Accusations of a toxic corporate culture and the brand's outdated marketing practices compounded the reputational damage caused by the Epstein connection. The brand faced increased competition from more inclusive and body-positive lingerie brands, further eroding its market share.

The spin-off of Victoria's Secret was seen as an attempt to distance the brand from the Wexner-Epstein controversy and revitalize its image. However, the long-term impact of the scandal on Victoria's Secret and L Brands remains to be seen.

Les Wexner's Legacy: A Complex and Contradictory Narrative

Les Wexner's legacy is a complex and contradictory one. He is undeniably a retail visionary who built a global empire, transforming the way women shop and creating iconic brands. However, his association with Jeffrey Epstein has cast a long shadow over his achievements, raising questions about his judgment and moral compass.

On one hand, Wexner is credited with:

Revolutionizing Retail: He pioneered the concept of specialty retail, focusing on targeted demographics and rapidly adapting to changing trends.
Building Global Brands: He created and acquired iconic brands like Victoria's Secret and Bath & Body Works, shaping the fashion and beauty industries.
Creating Jobs: L Brands employed hundreds of thousands of people worldwide, contributing significantly to the global economy.
Philanthropy: Wexner and his wife, Abigail, have donated millions of dollars to various charitable causes, including education, healthcare, and the arts.

On the other hand, Wexner's legacy is marred by:

Association with Jeffrey Epstein: The close relationship with Epstein and the allegations surrounding Epstein's abuse of power have tarnished Wexner's reputation.
Allegations of Complicity: Questions remain about Wexner's awareness of Epstein's crimes and whether he turned a blind eye to his behavior.
Damage to L Brands: The scandal contributed to financial losses and reputational damage for L Brands and its brands.
Erosion of Trust: The controversy has eroded trust in Wexner and his business dealings, raising concerns about corporate governance and accountability.

The Epstein scandal raises several critical questions:

What did Wexner know about Epstein's crimes, and when did he know it? This is the central question that has fueled public scrutiny and legal investigations.
How much control did Epstein have over Wexner's finances and business decisions? The extent of Epstein's influence remains a subject of debate.
What responsibility does Wexner bear for enabling Epstein's behavior? This question raises broader issues about corporate responsibility and the accountability of wealthy individuals.

Legal and Investigative Ramifications

The Wexner-Epstein connection has also spurred significant legal and investigative ramifications.

Lawsuits: Numerous lawsuits have been filed against the estate of Jeffrey Epstein, some of which have also implicated Les Wexner and L Brands. These lawsuits allege that Wexner and L Brands were aware of Epstein's criminal activities and failed to take action to stop them.
Investigations: Various law enforcement agencies and regulatory bodies have launched investigations into Epstein's activities and his connections to wealthy individuals, including Les Wexner. These investigations aim to uncover the full extent of Epstein's crimes and hold those who enabled him accountable.
Media Scrutiny: The Wexner-Epstein relationship has been the subject of intense media scrutiny, with journalists and investigative reporters digging into the details of their association and uncovering new information about their dealings.

While Wexner has maintained that he was unaware of Epstein's crimes and that he severed ties with him after learning of his behavior, the legal and investigative ramifications of their relationship continue to unfold. The lawsuits and investigations could have significant consequences for Wexner, L Brands, and other individuals and entities connected to Epstein.

For example, some lawsuits have specifically targeted Wexner and L Brands, alleging that they benefited from Epstein's criminal activities or that they were negligent in failing to detect and prevent his abuse. These lawsuits could result in substantial financial settlements or judgments against Wexner and L Brands.

The ongoing investigations could also lead to criminal charges or other legal actions against Wexner or other individuals associated with Epstein. The outcome of these legal and investigative proceedings remains uncertain, but they are likely to have a significant impact on Wexner's legacy and the future of L Brands.

Lessons Learned and The Future of Retail

The Les Wexner-Jeffrey Epstein saga offers valuable lessons about corporate governance, ethical leadership, and the importance of accountability. It highlights the dangers of unchecked power and the potential consequences of associating with individuals with questionable character.

Key takeaways from the Wexner-Epstein case include:

The Importance of Due Diligence: Companies and individuals should conduct thorough due diligence before entering into business relationships with others. This includes investigating their background, reputation, and any potential conflicts of interest.
The Need for Transparency: Companies should operate with transparency and accountability, disclosing their financial dealings and business relationships to stakeholders.
The Value of Ethical Leadership: Leaders should prioritize ethical behavior and set a strong example for their employees. They should also be willing to take action against individuals who engage in misconduct.
The Power of Whistleblowers: Whistleblowers play a crucial role in exposing corporate wrongdoing. Companies should create a safe and supportive environment for employees to report concerns without fear of retaliation.

The retail industry has undergone significant changes in recent years, driven by factors such as the rise of e-commerce, changing consumer preferences, and increased competition. The Wexner-Epstein scandal has further complicated the challenges facing the retail industry, highlighting the importance of ethical considerations in business decision-making.

Looking ahead, the retail industry is likely to see a greater emphasis on sustainability, inclusivity, and social responsibility. Consumers are increasingly demanding that companies align their values with their own, and they are willing to boycott brands that engage in unethical or irresponsible behavior. Companies that prioritize ethical conduct and social impact are more likely to thrive in the long run.

Conclusion: A Legacy Under Perpetual Scrutiny

Les Wexner's story is a cautionary tale of ambition, success, and the devastating consequences of poor judgment. He built a retail empire that shaped the fashion landscape, but his association with Jeffrey Epstein has forever tarnished his legacy. The scandal serves as a reminder of the importance of ethical leadership, corporate responsibility, and the need for constant vigilance against abuse of power.

While Wexner may have distanced himself from Epstein and expressed regret for their association, the questions surrounding their relationship and the allegations of complicity will likely continue to haunt him and his legacy for years to come. The Wexner-Epstein saga serves as a stark reminder that even the most successful individuals are not immune to the consequences of their actions and that their reputations can be irrevocably damaged by their associations.

The story of Les Wexner and Jeffrey Epstein is a complex and multifaceted one, with no easy answers or simple conclusions. It is a story that raises profound questions about power, wealth, and the responsibility that comes with both. It is a story that will continue to be debated and dissected for years to come, serving as a cautionary tale for future generations of business leaders.

The lessons learned from the Wexner-Epstein case are applicable not only to the retail industry but to all sectors of business and society. They underscore the importance of ethical conduct, transparency, and accountability in all aspects of human endeavor. They remind us that true success is not measured solely by financial wealth or material possessions but also by the integrity and moral compass that guide our actions.