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L Brands to Spin off Victoria’s Secret From Bath & Body Works
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L Brands Inc. which had been mulling either a split or sale for its
Victoria’s Secret chain has opted to go the spinoff route, announcing on plans to separate into two publicly traded companies.
Shoppers stand in line to enter a Victoria’s Secret store at the International Plaza and Bay Street Mall in Tampa, Florida
The transaction, which is expected to be completed in August 2021, will result in two independent retailers:
Bath & Body Works and Victoria’s Secret. The split will let the separate companies better focus on growth and give more financial flexibility in a changing retail landscape, L Brands said.