Type Private Area served Worldwide Customer service 00 1 207-552-3028 Founder Leon Leonwood Bean Revenue 1.61 billion USD (2014) | Industry Retail Number of employees 5,000 (2014) CEO Stephen Smith (Jan 2016–) Founded 1912 Number of locations 42 | |
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Key people Shawn Gorman
(Chairman)
Steve Smith
(President and CEO) Products Clothing and Outdoor Equipment Headquarters Freeport, Maine, United States Profiles | ||
L.L.Bean, Inc., branded as L.L.Bean, is an American, privately held e-commerce, mail-order, and retail company founded in 1912 by Leon Leonwood Bean. The company is currently based in Freeport, Maine, United States. It specializes in clothing and outdoor recreation equipment. Its annual sales were USD $1.6 billion in 2015.
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Company history
The company L.L.Bean was founded in 1912 by its namesake, avid hunter and fisherman Leon Leonwood Bean in Freeport, Maine. The company began as a one-room operation selling a single product, the Maine Hunting Shoe (known currently as the L.L.Bean Boot). Bean had developed a waterproof boot, which is a combination of lightweight leather uppers and rubber bottoms, that he sold to hunters. He obtained a list of nonresident Maine hunting license holders, prepared a descriptive mail order circular, set up a shop in his brother's basement in Freeport, Maine, and started a nationwide mail order business. By 1912, he was selling the "Bean Boot", or Maine Hunting Shoe, through a four-page mail-order catalog, and the boot remains a staple of the company's outdoor image. Defects in the initial design led to 90% of the original production run being returned: Bean made good on his money-back guarantee, corrected the design, and continued selling them.
The 220,000-square-foot (20,000-square-meter) L.L.Bean retail store campus in Freeport, ME, is open 24 hours a day, 365 days a year and welcomes more than 3 million visitors every year. As a privately held company, L.L.Bean does not publicly disclose financials.
Leon L. Bean died on February 5, 1967, in Pompano Beach, Florida. He is buried in Freeport's Webster Cemetery. The company passed into the directorship of Bean's grandson, Leon Gorman, from that time until 2001, when Gorman decided to take the position of Chairman, leaving the position of CEO to Christopher McCormick, the first non-family member to assume the title. On May 19, 2013 Shawn Gorman, 47, a great-grandson of the company’s founder, was elected L.L.Bean’s chairman. The company announced a $125,000 donation to a new scholarship fund upon Leon Gorman's death in 2015, representing about 2.5 years of tuition at his alma mater, Bowdoin College.
Stephen Smith was named CEO in November 2015, the first time in its 103 year history that a CEO has been hired from outside the company.
Product line
Since its inception, the company has branched out not only to variations on its boots but to other outdoor equipment such as firearms, backpacks, tents, as well as producing a full line of clothing, which is now its mainstay.
L.L.Bean is a global company sourcing its products from the U.S. and across the globe. It is one of the last multi-channel merchants to still own and operate a manufacturing facility in the United States. Its Brunswick, Maine factory employs more than 450 people who hand-craft the company's iconic products such as the Maine Hunting Shoe, L.L.Bean Boot, Boat and Totes, dog beds, leather goods and backpacks.
In 2000, L.L.Bean formed a contract with Subaru, making L.L.Bean the official outfitter of Subaru, spawning an "L.L.Bean edition" Subaru Outback and Forester for the USA market. The L.L.Bean trim levels on American Subaru vehicles are the top-spec versions, with leather and wood trimmed interiors and all available options offered as standard equipment. This relationship with Subaru ended June 28, 2008.
In 2010, L.L.Bean established a more stylish sub-brand known as L.L.Bean Signature. The Signature line is a modern interpretation of L.L.Bean classics featuring a more modern fit.
Branches
Along with a number of retail and outlet ("factory") stores, the company maintains its flagship store on Main Street in Freeport. This branch, originally opened in 1917, has been open 24 hours a day since 1951, with the exception of two Sundays in 1962 when Maine changed its blue laws; a town vote reinstated the store's open-door policy. The flagship also closed to honor the death of President Kennedy, as well as that of Bean himself, as well as his grandson Leon Gorman
L.L.Bean opened its first Outlet store in North Conway, New Hampshire in 1988.
Outdoor Discovery Schools
L.L.Bean has education programs connected to many of its retail outlets to support the outdoor interests of its customers. Customers can sign up to participate in a number of outdoor activities: all equipment and instruction are provided. Activities include archery, clay shooting, fly casting, and sea kayaking. More advanced classes are conducted as well, and must be reserved in advance. Snowshoeing and cross country skiing are available December to March. All of the other retail stores (there are now 20 total outside of Maine) offer fly casting and kayaking and stand-up paddleboarding .