"The separation of Victoria's Secret into a private entity will enable L Brands to reduce debt and focus on its strong core business of Bath & Body Works, which represents over 80% of its operating income," said Moody's vice president Christina Boni.NEW YORK - Victoria's Secret, which once defined sexy with its leggy supermodels prancing around in their bras and oversized angel wings, is being sold as women increasingly look for styles that more realistically fit their body type.The company's owner, L Brands, said that the private-equity firm Sycamore Brands will buy 55% of Victoria's Secret for about $525 million. Victoria's Secret. The Columbus, Ohio company will …
The firm's investment portfolio includes retailers such as Belk, Coldwater Creek, Hot Topic and Talbots.Victoria's Secret suffered a 12% drop in same-store sales during the most recent holiday season. ”Furthermore, with athleisure taking over, the need for regular bras continues to wane.”Victoria's Secret lit up runways and clogged up the internet with its supermodels and an annual television special that mixed fashion, beauty and music. 7 Reasons Why People Are No Longer Interested in Buying Anything from Victoria’s Secret Everyone is familiar with the famous lingerie brand Victoria’s Secret. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.An error has occurred, please try again later. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. L Brands said Thursday that same-store sales declined 10% at Victoria's Secret during the fourth quarter. In fact, its first-ever purchase was of part of the retailer’s apparel-sourcing division in 2011.L Brands’ board responded by hiring Barington as an adviser to explore a potential deal, and that agreement is up for renewal on Feb. 18. The brand canceled its televised fashion show last year, and its marketing chief retired.The contours of a Victoria’s Secret buyout could take shape over the next few weeks, analysts say. Victoria's Secret, the troubled lingerie brand owned by L Brands, is being sold to a private equity firm in a $525 million deal. Victoria's Secret. After a decade of steady sales growth, the skin-care and fragrance retailer now earns nearly all of L Brands’ profit, according to analyst estimates.“Right now, the Victoria’s Secret brand is given very little, if any, value in L Brands,” said Ed Yruma, analyst with KeyBanc Capital Markets. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.On its own, the Bath & Body Works brand could attract a valuation of 8 times its earnings before interest, tax, depreciation and amortization or Ebitda, according to Cowen analyst Oliver Chen.
They’ve been massively successful for many years, but the tide seems to be changing, and the reasons why are pretty obvious once you start to look at how the company approaches its customers. "Sycamore, which has deep experience in the retail industry and a superior track record of success, will bring a fresh perspective and greater focus to the business. After the sale the focus on women buying lingerie for themselves only increased, transforming Victoria’s Secret into its current form. More broadly, it has struggled to keep up with cultural changes.
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