FASHION RETAIL NEWS UK
L Brands board approves separation of Victoria’s Secret
12 July, 2021 | by Angela Beevers
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.
