The firm’s operator, L Brands, stated Thursday that the private-equity firm Sycamore Partners will acquire fifty five% of Victoria’s Key for about USD 525 million.
The Columbus, Ohio, firm will retain the remaining 45 per cent stake.
Following the sale, L Brands will be remaining with its Bathtub & Body Works chain and Victoria’s Key will turn into a private firm.
Les Wexner, 82, who launched the guardian firm in 1963, will stage down as chairman and CEO immediately after the transaction is done and turn into chairman emeritus. Wexner has been grappling with