Shh! Victoria’s Secret is going private after being bought out.
Under wares. Sycamore Partners is purchasing L Brands’ (LB -3.90%) Victoria’s Secret’s lingerie company for $525 million.
- Sycamore Partners will control a 55% stake. L Brands will be left with 45%.
Victoria’s big secret. L Brands’ chief executive Leslie H. Wexner is stepping down after being scrutinized with his close connection to Jeffrey Epstein.
How does it affect my wallet?
#RetailApocalypse. After becoming America’s largest lingerie retailer in the 1990s and 2000s, the company is finally losing steam.
- Sales declined in 2015 as “athleisure” and sports bras became trendier.
- From 2016 to 2018, Victoria’s share in the lingerie business fell from 33% to 24%.
Stay positive. Victoria’s Secret, along with other retailers, have to adapt (or be bought out) to stay relevant.
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