News Retail

Stakes of Victoria secret sold

victoria secreat

Victoria’s Secret, which once defined sexy with its leggy supermodels prancing around in their bras and oversized angel wings, is being sold as women increasingly look for styles that more realistically fit their body types.

The company’s owner, L Brands, said that the private-equity firm Sycamore Partners will buy 55% of Victoria’s Secret for about $525 million. The Columbus, Ohio, company will keep the remaining 45% stake.

loiko group

After the sale, L Brands will be left with its Bath & Body Works chain and Victoria’s Secret will become a private company.

Les Wexner, who founded the company in 1963, will step down as chairman and CEO after the transaction is completed and become chairman emeritus.–

Related posts

Apparel exports dynamics geared for big change

AMAZON ANNOUNCES TO HIRE 33,000 PEOPLE

Perfect Sourcing Newsdesk

Walmart To Open 26 Best Price Stores By 2023

Leave a Comment