Victoria's Secret Sold <br />to Private Equity Firm The lingerie brand is being <br />sold by its owner, L Brands, <br />to Sycamore Partners in a <br />$525 million deal. Sycamore Partners will <br />own a 55 percent stake in the <br />company, with L Brands <br />maintaining 45 percent. Victoria’s Secret will be spun <br />off as a fully private company. L Brands CEO and chairman Leslie Wexner <br />will vacate his roles as part of the deal, <br />staying on as chairman emeritus. The sale comes after an <br />onslaught of bad press <br />for the lingerie brand. Wexner has been criticized for his close relationship to <br />disgraced financier Jeffrey Epstein and the brand for its <br />lack of inclusivity and mistreatment of models.
