L Brands Spinoff Approved, Name to Change

Courtesy of L Brands/Victoria's Secret, Columbus, Ohio

The board for L Brands (Columbus, Ohio) has officially approved the Victoria’s Secret and Bath & Body Works spinoff. Victoria’s Secret & Co. will become a standalone, publicly traded company and L Brands will officially change its name to Bath & Body Works, becoming part of the banner and dropping the L Brands moniker.

In early 2020, L Brands and Sycamore Partners (New York) announced a deal for the latter to take a 55 percent stake in Victoria’s Secret. In early May, L Brands and Sycamore announced a mutual termination of the deal, which began stirring in late April due to L Brands reportedly not maintaining normal business operations due to the Covid-19 pandemic.

The spinoffs and name change will become official August 2, according to Retail Dive.

VMSD Staff

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