Marketing
Victoria's Secret spinning off by late summer
May 14, 2021
L Brands, the parent company of high-end lingerie retailer, Victoria's Secret, plans to spin the brand, as well as its Bath & Body Works, into publicly traded companies.
The spinoffs, according to a CNBC report, should happen by August.
The move comes after L Brands entertained several purchase inquiries. The two brands' leaders will remain in their roles, with Andrew Meslow, L Brands CEO, also heading Bath & Body Works while Martin Waters retains his Victoria's Secret CEO position.
"In the last 10 months, we have made significant progress in the turnaround of the Victoria's Secret business," L Brands Chair Sarah Nash said in a statement, according to the news report.
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