Lingerie brand Victoria’s Secret continues as an independent company. Owner L Brands will separate the division from the care products division Bath & Body Works.
L Brands will thus consist of two separate listed companies. The company confirmed this to American media after reporting on the matter.
L Brands previously unsuccessfully tried to find a new owner for the lingerie brand. The bids went up to over $ 3 billion.
However, that was less than the valuation of between $ 5 billion and $ 7 billion that L Brands expects to divest from the division.
Meanwhile, Victoria’s Secret also faced a series of other challenges.
Thus, the brand fell more and more out of favour. In addition, there were allegations of misogyny and sexual harassment in the workplace.