Victoria’s Secret & Co. has completed its previously announced separation from Bath & Body Works, Inc. (formerly known as L Brands, Inc.) and is now an independent, publicly traded company.
Victoria’s Secret includes Victoria’s Secret Lingerie, PINK and Victoria’s Secret Beauty.
“Today marks an exciting milestone as we embark on our journey as a newly independent public company, focused on inspiring women around the world with world-class products and experiences,” said Martin Waters, CEO of VS&Co., in a statement.
The separation was achieved through the distribution of 100% of the shares of Victoria’s Secret to holders of Bath & Body Works common stock after the market close on August 2, with Bath & Body Works stockholders receiving one share of Victoria’s Secret common stock for every three shares of Bath & Body Works common stock held at the close of business on the record date of July 22.