Leslie's, Inc. (LESL): History, Ownership, Mission, How It Works & Makes Money

Ever wondered who the go-to expert is for keeping your pool and spa in top shape? It's Leslie's, Inc. (LESL), the largest direct-to-consumer brand in the U.S. pool and spa care industry, with fiscal year 2024 sales of $1.33 billion.

But how did Leslie's become a leader in the $15 billion domestic pool and spa care industry? Keep reading to dive into the history, ownership, mission, and business model that makes Leslie's a key player in the pool and spa market.

From its humble beginnings in 1963 to operating over 975 physical locations and a robust digital platform, how does Leslie's maintain its edge, and what strategies are they using to stay ahead in a competitive market?

Leslie's, Inc. (LESL) History

Leslie's, Inc. Founding Timeline

Year established

The company was established in 1963.

Original location

The first store was opened in North Hollywood, California.

Founding team members

The founder of the company was Philip Leslie.

Initial capital/funding

Information regarding the initial capital or funding for the company's founding is not readily available in the provided search results.

Leslie's, Inc. Evolution Milestones

Leslie's, Inc. Transformative Moments

• 1985: Acquisition by Cardinal Industries: This acquisition marked a significant turning point, providing the capital and resources needed for expansion.
• 1997: Acquisition by Leonard Green & Partners: This further fueled growth and market dominance through strategic initiatives.
• 2020: Initial Public Offering (IPO): The IPO provided a substantial influx of capital, enabling the company to invest in technology, expand its store network, and enhance its online presence. The company's shares began trading on the NASDAQ Global Select Market on October 29, 2020. The IPO was priced at $17.00 per share, with 28,000,000 shares of common stock being offered.
• E-Commerce Growth: Recognizing the shift in consumer behavior, the company invested heavily in its e-commerce platform, driving substantial online sales growth.
• Strategic Acquisitions: The company has strategically acquired smaller pool supply companies to expand its market share and geographic footprint.

To gain more insight into the values that guide the company, explore the Mission Statement, Vision, & Core Values of Leslie's, Inc. (LESL).

Leslie's, Inc. (LESL) Ownership Structure

As a publicly traded company, Leslie's, Inc. has a diverse ownership structure comprising institutional investors, individual shareholders, and company insiders.

Leslie's, Inc. Current Status

Leslie's, Inc. is a publicly traded company, meaning its shares are available for purchase on the open market. It is traded on the NASDAQ stock exchange under the ticker symbol LESL.

Leslie's, Inc. Ownership Breakdown

Understanding the ownership breakdown of Leslie's, Inc. provides insights into the distribution of control and influence within the company. Here’s a look at the major categories of shareholders:

Leslie's, Inc. Leadership

The leadership team is responsible for setting the strategic direction and overseeing the operations of the company. Key members of the leadership team include:

• Michael Egeck: Chief Executive Officer and President
• Scott Bowman: Executive Vice President, Chief Financial Officer
• Tracy McHale Stuart: Director

To gain more insight into the company's goals, see Mission Statement, Vision, & Core Values of Leslie's, Inc. (LESL).

Leslie's, Inc. (LESL) Mission and Values

Leslie's, Inc. aims to be the trusted partner for pool and spa care, offering expertise and solutions to ensure a safe, enjoyable, and sustainable pool and spa experience. The company values customer satisfaction, continuous improvement, and a commitment to safety and sustainability.

Leslie's Core Purpose

Official mission statement

Leslie's mission statement is: 'To be the trusted and reliable partner for pool and spa owners, providing expert solutions and making pool and spa care easy, so customers can create their backyard oasis.'

• Focuses on being a trusted and reliable partner.
• Aims to provide expert solutions.
• Seeks to simplify pool and spa care for customers.
• Helps customers create their ideal backyard environment.

Vision statement

While a specific formal vision statement is not publicly available, insights into their vision can be gathered from company presentations and investor relations:

• To be the leading pool and spa care provider.
• To grow their market share through strategic initiatives and acquisitions.
• To enhance customer experience through innovative products and services.
• To drive long-term shareholder value.

Company slogan/tagline

Leslie's tagline is 'America's #1 Choice for Pool & Spa Care'.

• Highlights their position as a top provider in the industry.
• Emphasizes their focus on pool and spa care.
• Aims to convey trust and reliability to customers.

For more insights into Leslie's financial performance, see Breaking Down Leslie's, Inc. (LESL) Financial Health: Key Insights for Investors.

Leslie's, Inc. (LESL) How It Works

Leslie's, Inc. operates as a direct-to-consumer brand in the U.S. pool and spa care industry, offering a variety of products and services to maintain and improve pools and spas.

Leslie's, Inc. Product/Service Portfolio

Leslie's, Inc. Operational Framework

Leslie's, Inc. operates through a network of retail stores, e-commerce platform, and service centers. The company focuses on providing a comprehensive suite of products and services for pool and spa owners. Key aspects of their operational framework include:

• Retail Network: A widespread network of retail stores across the United States, offering customers convenient access to products and expert advice.
• E-commerce Platform: An online platform providing customers with the ability to purchase products and schedule services online.
• Service Centers: Locations offering on-site pool maintenance, equipment repair, and installation services.
• Supply Chain Management: Efficient sourcing and distribution of products to ensure availability and timely delivery to customers.
• Customer Service: Trained staff providing expert advice and support to customers in-store, online, and over the phone.

For more insights into the company's financial standing, you might find this resource helpful: Breaking Down Leslie's, Inc. (LESL) Financial Health: Key Insights for Investors

Leslie's, Inc. Strategic Advantages

Leslie's, Inc. maintains several strategic advantages that contribute to its success in the pool and spa care industry:

• Brand Recognition: A well-established brand name with a strong reputation for quality products and services.
• Extensive Retail Network: A large number of retail locations providing convenient access to customers across the United States.
• Comprehensive Product Offering: A wide range of products and services catering to all aspects of pool and spa ownership.
• Expertise and Customer Service: Knowledgeable staff providing expert advice and support to customers.
• Service Capabilities: On-site maintenance, repair, and installation services differentiate Leslie's from competitors focused solely on product sales.

Leslie's, Inc. (LESL) How It Makes Money

Leslie's, Inc. primarily generates revenue through the retail sale of swimming pool and spa supplies, equipment, and related services. This includes chemicals, cleaning equipment, pool accessories, and maintenance services catering to both residential and commercial customers.

Leslie's Revenue Breakdown

Leslie's Business Economics

The company's business economics are driven by several key factors:

• Pricing Strategy: Leslie's employs a competitive pricing strategy, balancing cost-effectiveness with premium product offerings. They leverage their brand reputation and expertise to justify pricing, while also offering promotions and discounts to attract customers.
• Seasonality: The pool supply business is highly seasonal, with the majority of sales occurring during the spring and summer months. This seasonality impacts inventory management and staffing levels.
• Customer Base: Leslie's serves a diverse customer base, including residential pool owners, commercial pool operators, and service professionals. This diversification helps to stabilize revenue streams.
• Supply Chain: Efficient supply chain management is crucial for maintaining profitability. Leslie's focuses on optimizing its distribution network and inventory levels to minimize costs and ensure product availability.
• Economic Factors: Consumer spending habits and the overall health of the economy influence sales. Economic downturns can lead to reduced spending on discretionary items like pool supplies.

Leslie's Financial Performance

Here are some key aspects of Leslie's financial performance:

• In fiscal year 2024, Leslie's total net sales reached $1.47 billion.
• Gross profit for the same period was $648.1 million, representing 44.1% of net sales.
• The company faced a net loss of $49.1 million, a decrease compared to the net income of $74.5 million in the prior year.
• Adjusted EBITDA for fiscal year 2024 was $178.1 million, a decrease from $277.7 million in the previous year.
• Capital expenditures totaled $61.1 million in fiscal year 2024, down from $77.4 million the year before.

You can gain more insights into the company’s values and goals by visiting: Mission Statement, Vision, & Core Values of Leslie's, Inc. (LESL).

Leslie's, Inc. (LESL) Market Position & Future Outlook

As of April 2025, Leslie's, Inc. holds a strong position in the pool and spa care industry, focusing on both residential and commercial customers. The company's future outlook hinges on strategic initiatives aimed at enhancing customer experience, expanding its product offerings, and optimizing its operational efficiency. To gain more insight into the investors interested in Leslie's, Inc., check out: Exploring Leslie's, Inc. (LESL) Investor Profile: Who’s Buying and Why?

Competitive Landscape

Opportunities & Challenges

Industry Position

Leslie's, Inc. benefits from several key factors that solidify its standing in the pool and spa care industry:

• National Footprint: A widespread network of retail stores across the United States provides a significant competitive advantage in terms of accessibility and brand presence.
• Expertise and Service: The company differentiates itself through knowledgeable staff and comprehensive service offerings, fostering customer loyalty.
• Private Label Products: Leslie's offers a range of exclusive private-label products that enhance margins and provide unique value to customers.