Headlines

Victoria’s Secret Seeking Sale, Higher Price

L Brands is reportedly in talks with potential buyers for the lingerie brand yet again

Published

3 years ago

April 26, 2021

VMSD Staff

Victoria’s Secret Seeking Sale, Higher Price — Courtesy of L Brands/Victoria's Secret, Columbus, Ohio

Courtesy of L Brands/Victoria’s Secret, Columbus, Ohio

L Brands (Columbus, Ohio) is reportedly in sales talks with more possible buyers for its Victoria’s Secret brand, CNBC reports.

Now the company is asking for more than double the brand’s initial valuation, from more than a year ago, of $1.1 billion. According to a Bloomberg report released last Friday, which cited sources familiar with the negotiations, the company may now be seeking a target valuation of $2 to $3 billion.

Last year, Sycamore Partners (New York) sued L Brands to terminate the deal it had struck with the company for around $525 million, citing L Brands had violated terms of the agreement – specifically being that L Brands furloughed workers and did not pay rent during the COVID-19 pandemic. L Brands, in the end, decided to call off the deal to avoid any legal proceedings.

L Brands hopes to complete a sale for the Victoria’s Secret brand by August.

VMSD Staff

Drawing on more than 125 years of history serving the retail design market, VMSD magazine provides retail professionals with the most up-to-date, innovative retail design ideas and industry news through its industry-leading magazine, website, social media channels and bulletins.

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