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Victoria’s Little Secret

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Published 02/21/2020

What happened?

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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