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L Brands board approves separation of Victoria’s Secret

L Brands has announced that its board has approved the previously announced separation of the Victoria’s Secret business to an independent, publicly traded company. Named Victoria’s… View Article

FASHION

L Brands board approves separation of Victoria’s Secret

L Brands has announced that its board has approved the previously announced separation of the Victoria’s Secret business to an independent, publicly traded company.

Named Victoria’s Secret & Co, the new company will include the Victoria’s Secret Lingerie, Pink and Victoria’s Secret Beauty retail brands. In addition, the board has approved a name change for the L Brands group to Bath & Body Works.

The separation will be achieved through the distribution of 100% of the shares of Victoria’s Secret to holders of L Brands common stock. The distribution is expected to be completed after the US stock market closes on 2 August.

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