• Victoria's Secret rival cheers the sale of the iconic lingerie brand as a 'positive'

    3 monthes ago - By Business Insider

    Victoria's Secret's parent company announced Thursday that it is selling a majority stake in the brand and taking the company private.
    Almost immediately after, the co-CEO of one of its biggest rivals, ThirdLove, chimed in on the news, dubbing it a "positive step" for the industry.
    ThirdLove has been vocal about Victoria's Secret's business in the past. In November, the company took out a full-page ad in The New York Times slamming controversial comments made about diversity and inclusivity by L Brands' CMO.
    Visit Business Insider's homepage for more stories .
    Victoria's Secret's parent...
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  • Victoria's Secret Won't Be an Easy Makeover

    Victoria's Secret Won't Be an Easy Makeover

    3 monthes ago - By Washington Post

    While Sycamore Partners focuses on a revitalization, parent L Brands can focus on Bath & Body Works.
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  • Les Wexner gives up control of Victoria's Secret, the brand he built

    3 monthes ago - By Fast Company

    For Wexner, this is an ugly end to a long, successful career as a master retailer. The 82-year-old billionaire helped to shape the American shopping mall.
    Today, Leslie Wexner steps down from his role as chairman and CEO of L Brands, the retail juggernaut that owns both Victoria's Secret and Bath & Body Works. He's agreed to sell a 55% controlling stake of Victoria's Secret to the private equity firm Sycamore Partners for $525 million, which some analysts say is a lower sale price than expected. Andrew Meslow, currently the COO of Bath & Body Works, will take over as CEO.
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  • A diminished Victoria's Secret is sold

    3 monthes ago - By Chron

    NEW YORK - 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 type.
    The company's owner, L Brands, said that the private-equity firm Sycamore Brands will buy 55% of Victoria's Secret for about $525 million. The Columbus, Ohio company will keep the remaining 45% stake. 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...
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  • L Brands plummets as Victoria's Secret is taken private at $1.1 billion valuation

    L Brands plummets as Victoria's Secret is taken private at $1.1 billion valuation

    3 monthes ago - By Business Insider

    L Brands shares plummeted in early trading after the company announced it would relinquish control of Victoria's Secret.
    Private equity firm Sycamore Partners will take a 55% stake in Victoria's Secret, in a deal that values the company at $1.1 billion.
    Visit Business Insider's homepage for more stories .
    L Brands shares tumbled as the company ceded control of Victoria's Secret, one of its main brands, to a private equity firm Thursday.
    L Brands stock dropped as much as 15.85% in early trading Thursday, after the company announced that Sycamore Partners would take a majority, 55% stake in...
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  • L Brands plummets as Victoria's Secret is taken private at $1.1 billion valuation

    L Brands plummets as Victoria's Secret is taken private at $1.1 billion valuation

    3 monthes ago - By Business Insider

    L Brands shares plummeted in early trading after the company announced it would relinquish control of Victoria's Secret.
    Private equity firm Sycamore Partners will take a 55% stake in Victoria's Secret, in a deal that values the company at $1.1 billion.
    Visit Business Insider's homepage for more stories .
    L Brands shares tumbled as the company ceded control of Victoria's Secret, one of its main brands, to a private equity firm Thursday.
    L Brands stock dropped as much as 15.85% in early trading Thursday, after the company announced that Sycamore Partners would take a majority, 55% stake in...
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  • L Brands sells majority stake in Victoria's Secret, CEO Wexner to step down

    3 monthes ago - By Reuters

    L Brands Inc said on 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, as it focuses on its core Bath & Body Works brand.
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  • Leslie Wexner to Step Down as Victoria's Secret Is Sold

    3 monthes ago - By NY Times

    Mr. Wexner, who built L Brands into a retailing force, had come under scrutiny for his ties to the disgraced financier Jeffrey Epstein.
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  • L Brands CEO Wexner out as private equity firm takes over Victoria's Secret

    3 monthes ago - By Washington Post

    Wexner has faced recent scrutiny for his ties to convicted sex offender Jeffrey Epstein.
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  • Lingerie brand Victoria's Secret to go private

    3 monthes ago - By Reuters

    L Brands Inc is selling a controlling stake in its Victoria's Secret unit to investment firm Sycamore Partners, valuing the lingerie brand at $1.1 billion, as focuses on its core Bath & Body Works brand.
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  • Victoria's Secret Goes Private⁠-And Wexner Steps Down⁠-As L Brands Looks To Revitalize Itself

    3 monthes ago - By Forbes

    Wexner, once called the “Merlin of the mall,” ends his tenure amid a prolonged period of declining sales and share prices at L Brands.
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  • L Brands CEO steps down as company sells majority share in Victoria's Secret

    L Brands CEO steps down as company sells majority share in Victoria's Secret

    3 monthes ago - By Business Insider

    Les Wexner is stepping down as CEO and chairman of L Brands after nearly six decades at the helm of the company.
    The company is selling a 55% stake in Victoria's Secret to Sycamore Partners. L Brands will retain a 45% stake in the brand.
    L Brands-owned Bath & Body Works will become a standalone company.
    Visit Business Insider's homepage for more stories .
    Les Wexner is stepping down as chairman and CEO of L Brands, the company announced Thursday.
    In a statement to the press, L Brands said that it is selling a 55% stake in Victoria's Secret to Sycamore Partners; L Brands will retain a 45%...
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  • A diminished Victoria's Secret is sold

    3 monthes ago - By Chron

    NEW YORK - Victoria's Secret, beset by falling sales and uncomfortable questions about its billionaire founder who has run the company for five decades, is being sold.
    The company's owner, L Brands, said that the private-equity firm Sycamore Brands will buy 55% of Victoria's Secret for about $525 million. The Columbus, Ohio company will keep the remaining 45% stake.
    Shares of the parent, L Brands, slid 14.6% in premarket trading Thursday.
    The selling price signifies a marked decline for a brand with hundreds of stores that booked about $7 billion in revenue last year.
    Sales at its stores...
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  • L Brands tumbles on word of Victoria's Secret sale

    3 monthes ago - By Chron

    NEW YORK - Shares of the company that owns Victoria's Secret are tumbling on a report that lingerie retailer is being sold for about $1.1 billion.
    The selling price would signify a marked decline for a brand with hundreds of stores that booked about $7 billion in revenue last year.
    But Victoria's Secret is a diminished brand, beset by falling sales and uncomfortable questions about its billionaire founder who has run the company for five decades.
    Sales at its stores are in decline because competition is increasing and tastes are changing. Victoria's Secret suffered a 12% drop in same-store...
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  • Victoria's Secret is about to be sold after years of scandal and slumping sales

    3 monthes ago - By Fortune

    L Brands Inc. is close to selling a controlling stake in its Victoria's Secret brand to private equity firm Sycamore Partners in a deal that values the lingerie brand at $1.1 billion, Wall Street Journal reported citing unidentified people familiar with the development.
    Sycamore Partners is expected to buy 55% in Victoria's Secret in a transaction that with L Brands and retain 45% in a separate firm that will include the young-adult focused Pink chain, according to the newspaper. L Brands' billionaire founder Leslie Wexner will step down as chairman and chief executive officer, WSJ said...
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