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L Brands to Spin Off Victoria s Secret Rather Than Sell

Victoria s Secret owner L Brands will instead spin off the lingerie brand, The Times reported. L Brands confirmed the news in a statement Tuesday morning. This will split L Brands into two separate companies. The deal is expected to close in August, sources told The Times. L Brands, which also owns Bath & Body Works, has been on the hunt for a new buyer for Victoria s Secret since a deal with private equity firm Sycamore Partners fell through in 2020. Sycamore pulled out of the deal after filing a lawsuit that accused L Brands of violating an agreement between the two companies by closing Victoria s Secret stores during the pandemic, cutting back on new inventory, and not paying rent for April.

L Brands Will Spin Off Victoria s Secret - The New York Times

Image L Brands said last year that it was considering separating Victoria’s Secret from the rest of its business.Credit.Ted Shaffrey/Associated Press Exclusive: L Brands will spin off Victoria’s Secret L Brands has decided to spin off Victoria’s Secret rather than sell it, DealBook is first to report. The company said last year it was considering separating Victoria’s Secret from the rest of its business, and we previously reported that it was testing private equity’s interest. Ultimately, sources say, L Brands has decided to split itself into two independent, publicly listed companies: Victoria’s Secret and Bath & Body Works. The deal is expected to close in August.

Victoria s Secret could be worth double last year s scrapped Sycamore Partners deal as new buyout talks begin

10 The owners of lingerie retailer Victoria’s Secret are reportedly back in talks with potential buyers at more than doub Sorry, you need to subscribe to read this article. If you would like to access this article you must become a Premium Subscriber. Premium subscribers receive complete access to our daily breaking news, premium stories, weekly Fundraising & IR Review, Knowledge Bank and LP profiles - all which are accessible via our mobile platform.

L Brands Seeks to Sell Victoria s Secret, Aiming for Higher Valuation

L Brands Seeks to Sell Victoria s Secret, Aiming for Higher Valuation
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Victoria s Secret targets higher valuation in new sale talks

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