BOSTON/BANGALORE, INDIA – L Brands Inc. said Thursday it will sell a controlling stake in its Victoria’s Secret unit to investment firm Sycamore Partners, valuing the lingerie brand at $1.1 billion (¥123 billion), as it focuses on its core Bath & Body Works brand.
The private equity firm will own 55 percent of Victoria’s Secret, the world’s best known specialty retailer for lingerie, while L Brands will keep a 45 percent stake. The Columbus, Ohio-based company’s Bath & Body Works, which sells soaps and home fragrances, will be run as a standalone company.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.
We humbly apologize for the inconvenience.