Company L Brands (Limited Brands) sell a private company, Sycamore Partners control over the lingerie brand Victoria”s Secret. Based on the parameters of the transaction, the brand was estimated at $ 1.1 billion. It is reported Focus.
It is expected that Sycamore Partners will buy the 55% of shares Victoria”s Secret. The remaining 45% of the shares of L Brands translate into a separate company, retaining her brand Pink. L Brands itself will deal only with the network of Bath & Body Works.
82-year-old Leslie Wexner, L Brands heading for more than 50 years, will leave the post of CEO and Chairman of the Board of Directors of the company. But he plans to remain on the Board of Directors of L Brands to maintain their share in the company (approximately 17% of shares). Wexner bought Victoria’s Secret for $ 1 million in 1982, then it was a small chain of lingerie stores in San Francisco.
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Investment company Sycamore Partners has already bought several producers and sellers of clothing, is in a difficult situation (Nine West, Talbots, Hot Topic).
A former top Manager of Victoria’s Secret took over the Russian “Gloria jeans”
Earlier it was reported that the owner of the Victoria’s Secret Leslie Wexner talks to sell the brand or its part.
As you know, in 2019 was for Victoria’s Secret one of the most difficult. First, the ratings of the show, the legendary show has fallen to record levels. Worse marketing Director ed Razek, who said publicly that the show will never be transsexual models, or models plus-size category – they say that they will ruin the fabulousness of the show.
Such a statement immediately responded to the activists called on all women to boycott Victoria’s Secret and force them to create linens of different sizes. The protests all over the world took many people accusing the company of discrimination.
After a wave of strikes the user of the brand still moved away from its standards and invited plus-size models and transsexual girls. They have participated in fotosessiya for Victoria’s Secret and became the face of the line underwear.