L.L. Bean’s Lifetime Guarantee Is As Strong As Ever (NPR)

After leading L.L. Bean for more than four decades and steering the outdoors store to its prominent spot as Maine’s most recognized brand, Leon Gorman '56 stepped down as chairman of the company earlier this year.  In 2010, Bowdoin gave Gorman, a trustee emeritus of the College, The Bowdoin Prize, the highest honor the College bestows.

After leading L.L. Bean for more than four decades and steering the outdoors store to its prominent spot as Maine’s most recognized brand, Leon Gorman ’56 stepped down as chairman of the company earlier this year. In 2010, Bowdoin gave Gorman, a trustee emeritus of the College, The Bowdoin Prize, the highest honor the College bestows.

 

 

L.L. Bean’s lifetime guarantee continues to amaze competing companies, as well as its own customers — witness the stories of people returning the same backpack every time the zipper breaks over 2o years, or a 10-year old sweater.

REI tried to mirror this lifetime guarantee two years ago, but reportedly had to renege on the policy because it was hurting profits.

As Bean’s chief marketing officer tells NPR, the policy remains strong and is, in fact, one of their best advertising strategies.

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