• L Brands boss Leslie Wexner to step down as company sells off Victoria's Secret

    1 month ago - By New York Post

    Retail tycoon Leslie Wexner will reportedly leave the helm of his L Brands conglomerate amid scrutiny of his past ties to Jeffrey Epstein.
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  • Victoria's Secret Acquired, Leslie Wexner to Step Down

    Victoria's Secret Acquired, Leslie Wexner to Step Down

    1 month ago - By Fashionista

    Victoria's Secret officially has a new owner: Sycamore Partners, a private equity firm, acquired the lingerie giant from L Brands in a deal that makes it a privately held company. Meanwhile, Bath & Body Works will exist as a standalone public company, and Leslie Wexner, L Brands founder...
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  • Victoria's Secret Has a New Owner, Wexner to Exit

    Victoria's Secret Has a New Owner, Wexner to Exit

    1 month ago - By WWD

    Victoria's Secret has been sold - and Les Wexner is stepping aside.
    Parent company L Brands sold 55 percent of the intimates giant to Sycamore Partners for $525 million. The deal includes the Pink brand. Victoria's Secret will become a private company, while L Brands' remaining operation, Bath & Body Works, will become a standalone public firm.
    Following the transaction, Wexner - who has come under fire over the last 18 months for Victoria's Secret failure to adapt to changing market conditions, his relationship with Jeffrey Epstein and alleged sexual harassment at the company, will...
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  • Sycamore to take control of Victoria's Secret

    1 month ago - By Fashion United

    L Brands has announced that Victoria's Secret, with a total enterprise value of 1.1 billion dollars, will be separated from L Brands into a privately-held company majority-owned by Sycamore with Sycamore acquiring 55 percent interest for approximately 525 million dollars and L Brands retaining a 45 percent stake. The company expects to report a fourth quarter comparable sales decline of 2 percent, consisting of a positive 10 percent comp at Bath & Body Works and a decline of 10 percent at Victoria's Secret.
    “We believe this structure will allow Bath & Body Works - which represents the vast...
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