L Brands Inc., an American fashion retailer based in Ohio that has flagship brands like Victoria’s Secret and Bath & Body Works, has announced to have inked a definitive agreement to transfer ownership and operating control of La Senza – a Canadian fashion retailer that sells lingerie and intimate apparel.
The pact will be inclusive of the home office organisation, North American stores, e-commerce and international collabs. The deal has been reportedly signed with to an associate of Regent LP, a private equity firm.
The retailer has stated that it will sell 100 percent of its assets in La Senza in swap over for the buyer’s concord to assume La Senza’s operating liabilities. It will also include L Brands’ future consideration upon the sale of La Senza.
The transfer is expected to be completed by January 2019.
Markedly, L Brands had purchased La Senza in a US $ 700 million deal 11 years back.
It is being said that La Senza’s current year’s earnings and operating loss will be US $ 250 million and US $ 40 million, respectively.
