default-output-block.skip-main
BoF Logo

The Business of Fashion

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

Victoria’s Secret Sells Stake in China Business for $45 Million

Victoria's Secret store.
Victoria's Secret store. (Shutterstock)

Victoria’s Secret & Co said on Tuesday it will sell a 49 percent stake in its China business to Hong Kong-based lingerie maker Regina Miracle International Ltd for $45 million in cash, aiming to boost sales with the help of a local partner.

As part of the agreement, the two companies will form a joint venture, with Regina Miracle operating all Victoria’s Secret stores and related online business in China.

Victoria’s Secret, which became an independent, publicly traded company after separating from Bath & Body Works last year, said the deal is expected to close in the first quarter of fiscal 2022.

By Ananya Mariam Rajesh

Learn more:

How L Brands Brought Victoria’s Secret Back From the Brink

After spending the last year boosting the lingerie retailer’s financial health, its owner is planning a spinoff.

In This Article
Topics
Organisations

© 2021 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The State of Fashion: Technology
© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
The State of Fashion: Technology