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World-Famous Fashion Giant is Sold
The world-famous women's underwear brand Victoria's Secret sells its majority stake to Syca
Yazar: Zack Smith
Yayınlanma: 21 Şubat 2020 23:21
Güncellenme: 1 Mayıs 2024 11:06
World Famous Fashion Giant Sold
The world-famous women's underwear brand Victoria's Secret sells its majority stake to Sycamore Partners with a valuation of $ 1.1 billion.
US retail company Limited Brands (L Brands) sells the dominant shares of the underwear brand Victoria's Secret to the investment firm Sycamore Partners with a valuation of $ 1.1 billion. The company is thought to make this sale to focus on its other brand named Bath & Body Works.
In a statement made by L Brands, it was announced that Leslie Wexner, who has been the CEO of the company for a long time, will also leave her post and become the honorary president after this process is completed.
Ohio-based The Columbus firm said Sycamore Partners would own 55 percent of Victoria's Secret and put the company in partnership status. L Brands will have a 45 percent stake in this partnership.İLGİLİ HABERLER
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