The company, headquartered in Freeport, Maine (where it was founded), specializes in clothing and outdoor recreation equipment.

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 and started a nationwide mail-order business.

The company's first hunting boot was sewn by Gertrude Goldrup, whose sewing machine is on display in the flagship store.

[15][16] The company sells a variety of hiking, weather, and other utility boots, along with other outdoor equipment such as firearms, backpacks, and tents, in addition to producing a full line of clothing.

[28] Due to the COVID-19 pandemic worldwide, all L.L.Bean stores were closed indefinitely[29] starting on March 17, 2020, at midnight.

[31] L.L.Bean has invested heavily in activities for both visitors and residents in Freeport, including its Outdoor Discovery Schools, Christmas light displays, and its Summer Concert Series, which has attracted artists such as Grace Potter, Lake Street Dive, Edwin McCain, Great Big Sea, Buckwheat Zydeco, and Rockapella.

Bean bags debuting at American Life Shop BEAMS in Tokyo's Harajuku district in 1976.

[41] The company then ventured into the Canadian market, launching an e-commerce site in 2018 under licensing by Toronto-based Jaytex Group and expansion directed under Brokerage Oberfeld Snowcap, and opening its first outlet in 2019 in Oakville, Ontario, with at least eight stores opened by the end of 2021 with plans to establish at least 20 more.

In 2020, the company expanded its outlets in Ontario, including one at Ottawa's Train Yards, one at the Georgian Mall in Barrie, and one at Vaughan Mills.

[42][43][44] In 2021, the company opened outlets at Toronto's Shops at Don Mills, one at Halifax, Nova Scotia's Dartmouth Crossing, one at Calgary, Alberta's Deerfoot Meadows retail centre with two in British Columbia; one in Victoria's Mayfair Mall and one at Burnaby's The Amazing Brentwood.

[45] In January 2017, a group of political activists called for a boycott against the company after it was disclosed that Linda Bean, one of the descendants of founder Leon Leonwood Bean who sits on the board of directors, had donated US$60,000 to a political action committee that supported Donald Trump's 2016 presidential campaign.

Customers can sign up to participate in a number of outdoor activities; all equipment and instruction are provided.