L Brands, the American fashion stalwart, on Monday (21 June) reportedly filed the necessary paper work with the Securities and Exchange Commission to spin off its reputed fashion brand Victoria’s Secret.
As per media reports, the business will now be called ‘Victoria’s Secret & Co.’
Notably, the business will comprise Victoria’s Secret Lingerie in addition to including Pink and Victoria’s Secret Beauty.
The separation into an independent company is expected to conclude in August this year.
Considering the filing as a significant move in creating two independent public firms, Andrew Meslow, CEO, L Brands, said that the retailer believes both Victoria’s Secret and Bath & Body Works will attain new levels of success and pursue growth strategies – strategies that will help enhance each firm’s customer base and achieve strategic objectives.
There are also talks of L Brands planning a spin off of its Bath & Body Works business some time in 2022.
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Also Read: L Brands approves tax-free spin-off of its Victoria’s Secret business: Reports
