default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

L Brands Creates ‘Victoria’s Secret & Co.’

Victoria Secret store, Denver.
Victoria Secret store, Denver. Shutterstock. (Shutterstock)

As part of its plan to spin off the lingerie line, L Brands formally registered the new entity with the US Securities and Exchange Commission Monday, June 21.

The separation is expected to take place in August, after which Bath & Body Works and Victoria’s Secret will be two independent public companies. Analysts estimate the latter’s valuation to be around $5 billion.

While Victoria’s Secret has lost market share in recent years, the intimates giant is working on revamping both its business model as well as brand image to consumers. In an effort to shed its outdated oversexualised image, Victoria’s Secret got rid of its “angels” and hired a diverse group of seven women to advise and be the face of the brand, including soccer star Megan Rapinoe, model Paloma Essler and actress Priyanka Chopra Jonas.

“We believe Victoria’s Secret and Bath & Body Works will achieve new levels of success and unlock significant value for all stakeholders by pursuing growth strategies best suited to each company’s customer base and strategic objectives,” L Brands’ chief executive Andrew Meslow said in a statement.

© 2023 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Chronicle the ‘Retail Apocalypse’ and emerging retail models, including DTC brands.




view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
Introducing The BoF Brand Magic Index
© 2023 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
Introducing The BoF Brand Magic Index