Dive Brief:
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Iconic outdoor retailer L.L. Bean Inc. on Friday announced net fiscal year 2013 sales of $1.56 billion.
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The record growth will allow the privately owned Freeport, Maine company to launch its biggest capital investment in its 101 years.
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The company attributed its success to improvements in e-commerce, product lines, and customer service, and credited its employees for much of it.
Dive Insight:
L.L. Bean’s iconic “Bean Boots” are all the rage this year and can be found on the feet of people of all ages this long winter. But the company’s success is not just because its 100-year-old boot is on trend. The company has put great effort into e-commerce and has looked closely at its product assortment. Its “Signature” line of men’s and women’s clothing in better fabrics and updated cuts is also performing well. The success is allowing the company to expand its brick-and-mortar presence and its best-performing product lines. Look for continued efforts to refine its e-commerce achievements as well.