Calvin Klein (fashion house)
Search results
People also ask
Who owns Victoria's Secret?
Does Les Wexner still own Victoria's Secret?
Does L Brands still own Victoria's Secret?
Is Victoria's Secret still a valuable brand?
Feb 20, 2020 · Victoria’s Secret has been sold — and Les Wexner is stepping aside. Parent company L Brands sold 55 percent of the intimates giant to Sycamore Partners for $525 million. The deal...
- Kellie Ell
Victoria's Secret was originally owned by The Limited. [135] Victoria's Secret's parent company was Intimate Brands, a separately traded entity with Ed Razek as president. [27] [136] In 2002, Intimate Brands was combined with the Limited, then renamed Limited Brands. [137]
2 days ago · Les Wexner founded L Brands, a global retail empire that included Victoria's Secret and Bath & Body Works, and served as CEO for more than 5 decades.
Most notably, he acquired the lingerie business Victoria's Secret in 1982. Started as an MBA project by Stanford graduate Roy Raymond, Victoria's Secret attracted Wexner's interest due to the unique, high quality merchandise and Victorian-era decor of the shop which featured red-velvet sofas.
- Sycamore Partners has been involved in more than a dozen retail industry buyouts since it was founded in 2011. It has acquired, and later exited, several major names in footwear, including Stuart Weitzman, Nine West and Kurt Geiger.
- While the firm has reaped hundreds of millions of dollars in profits from its investments, its methods have often been controversial, in some cases saddling retailers with massive debt that eventually played a role in their bankruptcies.
- Several of the businesses Sycamore has exited are now in healthier positions. Kurt Geiger, another former Jones Group property, was bought by European private equity firm Cinven for a reported $372 million in December 2015.
- The private equity business is a controversial specter in retail today, with critics accusing firms of extracting profits from the companies they invest in while leaving the stores too cash-strapped to compete.
Feb 20, 2020 · The company's owner, L Brands, said that the private-equity firm Sycamore Brands will buy 55 per cent of Victoria's Secret for about $525 million. The Columbus, Ohio company will keep the...
Feb 20, 2020 · Victoria's Secret will become a privately-held company majority-owned by private equity firm Sycamore Partners. As part of the deal, Sycamore will purchase a 55% interest in Victoria's Secret for approximately $525 million, and L Brands will retain a 45% stake in the lingerie company. Wexner, 82, has led L Brands since 1963.
