Struggling Victoria’s Secret sold as women demand comfort, Retail News, ET Retail

Davida Erdahl

New York : Victoria’s Key, which the moment described hot with its leggy supermodels in their lacy bras and oversized angel wings, has a new operator. Now, the major question is whether the the moment sought immediately after but now struggling model can be reinvented for a new era of girls demanding far more comfortable designs.

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

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