Private equity firm to buy majority stake in Victoria’s Secret
NEW YORK (UPI) -- Private equity firm Sycamore Partners agreed to buy a majority stake in the underperforming Victoria's Secret and spin it off into a privately held, standalone entity, the companies announced Thursday. The lingerie chain's owner, Columbus, Ohio-based L Brands, said Sycamore Partners will purchase a 55 percent stake in Victoria's Secret Lingerie, Victoria's Secret Beauty and PINK to create a separate company "focused on reinvigorating its market-leading businesses and returning them to historic levels of profitability and […]
