US fashion retailer L Brands has signed a deal with British clothing retailer Next Plc under which the latter will form a joint venture with its Victoria’s Secret business in the UK and Ireland (Victoria’s Secret UK). As per the terms of the deal, which is subject to regulatory approval, the joint venture will acquire […]
US fashion retailer L Brands and private equity firm Sycamore Partners have agreed to mutually terminate the previously announced $525m sale of a 55% stake in Victoria’s Secret Lingerie to the latter. The termination of the deal avoids a potential legal battle between the parties after Sycamore Partners filed a lawsuit in the Court of […]
US fashion retailer L Brands has agreed to sell 55% stake in Victoria’s Secret Lingerie to private equity firm Sycamore Partners for about $525 million. As per the terms of the deal, Victoria’s Secret, which has been valued at $1.1 billion, will be separated from the fashion retailer into a privately-held company under the majority […]
Ohio-based fashion retailer L Brands is in the process of divesting its Victoria’s Secret lingerie brand to private equity company Sycamore Partners, reported CNBC. L Brands has been looking to sell the lingerie retailer after its sales dropped apart from having competition from online retail companies. Currently, in the negotiation stage, the talks pertaining to […]