Sale of Victoria’s Secret Could Be Announced as Soon as This Week
L Brands is preparing to sell Victoria’s Secret to Sycamore Partners, and the deal could be announced as soon as this week, according to people familiar with the matter. The details are still under wraps, and the deal itself could still fall apart in the last stages. It is also unclear whether CEO Les Wexner will retain a leadership role following the sale of Victoria’s Secret.
Wexner has been under mounting pressure due to his ties to the late sex criminal Jeffrey Epstein. He has also been criticized for the poor performance of the company’s Victoria’s Secret brand under his watch.