Victoria's Secret Sold to Private Equity Firm
- 4 years ago
Victoria's Secret Sold
to Private Equity Firm The lingerie brand is being
sold by its owner, L Brands,
to Sycamore Partners in a
$525 million deal. Sycamore Partners will
own a 55 percent stake in the
company, with L Brands
maintaining 45 percent. Victoria’s Secret will be spun
off as a fully private company. L Brands CEO and chairman Leslie Wexner
will vacate his roles as part of the deal,
staying on as chairman emeritus. The sale comes after an
onslaught of bad press
for the lingerie brand. Wexner has been criticized for his close relationship to
disgraced financier Jeffrey Epstein and the brand for its
lack of inclusivity and mistreatment of models.
to Private Equity Firm The lingerie brand is being
sold by its owner, L Brands,
to Sycamore Partners in a
$525 million deal. Sycamore Partners will
own a 55 percent stake in the
company, with L Brands
maintaining 45 percent. Victoria’s Secret will be spun
off as a fully private company. L Brands CEO and chairman Leslie Wexner
will vacate his roles as part of the deal,
staying on as chairman emeritus. The sale comes after an
onslaught of bad press
for the lingerie brand. Wexner has been criticized for his close relationship to
disgraced financier Jeffrey Epstein and the brand for its
lack of inclusivity and mistreatment of models.