{"id":165653,"date":"2020-02-20T14:30:00","date_gmt":"2020-02-20T14:30:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/"},"modified":"2021-08-06T12:04:46","modified_gmt":"2021-08-06T12:04:46","slug":"victorias-secret-has-agreed-a-sale","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/","title":{"rendered":"Victoria\u2019s Secret has agreed a sale"},"content":{"rendered":"<p>Victoria\u2019s Secret, the US lingerie giant which has been <strong>beset by falling sales and uncomfortable questions<\/strong> about its billionaire founder, is being sold.<\/p>\n<p><!--more--><\/p>\n<p>Its owner L Brands said <strong>private equity firm Sycamore Brands will buy 55% of Victoria\u2019s Secret<\/strong> for about $525 million (\u00a3407 million). Once the deal is complete Les Wexner, who has run the business for five decades, will step down.<\/p>\n<p>L Brands, based in Columbus, Ohio, will keep the remaining 45% stake.\u00a0Shares in L Brands slid 14.6% in pre-market trading on Thursday.<\/p>\n<p>The selling price signifies a marked decline for a brand with hundreds of stores that <strong>booked about $7 billion (\u00a35.4 billion) in revenue last year.<\/strong><\/p>\n<p>Sales at its stores are in decline because competition is increasing and tastes are changing. Younger consumers in particular, who make up the brand's main target base, are drawn to more inclusive and less overtly sexual brands.<\/p>\n<div id=\"attachment_136708\" style=\"width: 585px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-136708\" class=\" wp-image-136708\" src=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/embedded3451957-300x218.jpg\" alt=\"Victoria's Secret\" width=\"575\" height=\"418\" \/><p id=\"caption-attachment-136708\" class=\"wp-caption-text\">Les Wexner will stand down when the deal completes<\/p><\/div>\n<p>Victoria's Secret has also been forced to drop its once world renowned fashion show in which<strong> supermodels, dubbed \"Angels\", paraded down a catwalk wearing underwear and wings<\/strong>. Stories abounded about the lack of diversity in the shows and the gruelling diet and exercise regimes models had to undertake to take part.<\/p>\n<p>L Brands has also come under scrutiny because Wexner has ties to the late financier Jeffrey Epstein, who was indicted on sex-trafficking charges, before taking his own life last year. Wexner has said he was<strong> \u201cembarrassed\u201d by his association with Epstein, <\/strong>his former personal financier, which ended in 2007.<\/p>\n<p>Wexner will leave the brand after the deal but take the honorary title of chairman emeritus. Reports emerged of a possible sale and Wexner's exit <a href=\"https:\/\/www.theindustry.fashion\/victorias-secret-owner-in-talks-over-possible-sale-and-exit-of-ceo\/\">at the end of last month<\/a>.<\/p>\n<p>Victoria\u2019s Secret suffered a 12% drop in same-store sales during the most recent holiday season.\u00a0It said same-store sales declined 10% during the fourth quarter. The brand has around 25 stores in the UK.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":137271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[18180,10769,19040,15182],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Victoria\u2019s Secret has agreed a sale - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Victoria\u2019s Secret, the US lingerie giant which has been beset by falling sales and uncomfortable questions about its billionaire founder, is being sold.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Victoria\u2019s Secret has agreed a sale - TheIndustry.fashion\" \/>\n<meta property=\"og:description\" content=\"Victoria\u2019s Secret, the US lingerie giant which has been beset by falling sales and uncomfortable questions about its billionaire founder, is being sold.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"TheIndustry.fashion\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/theindustryfashion\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-20T14:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-06T12:04:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2021\/07\/featureimage-copy-2-34-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lauretta Roberts\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:site\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lauretta Roberts\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/\"},\"author\":{\"name\":\"Lauretta Roberts\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/85b04a16eba8c6cd7a9534c5a4262b89\"},\"headline\":\"Victoria\u2019s Secret has agreed a sale\",\"datePublished\":\"2020-02-20T14:30:00+00:00\",\"dateModified\":\"2021-08-06T12:04:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/\"},\"wordCount\":328,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"},\"keywords\":[\"Les Wexner\",\"Lingerie\",\"Sycamore Brands\",\"Victoria's Secret\"],\"articleSection\":[\"Finance\",\"News &amp; Insight\",\"Retail &amp; Etail\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/\",\"url\":\"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/\",\"name\":\"Victoria\u2019s Secret has agreed a sale - TheIndustry.fashion\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#website\"},\"datePublished\":\"2020-02-20T14:30:00+00:00\",\"dateModified\":\"2021-08-06T12:04:46+00:00\",\"description\":\"Victoria\u2019s Secret, the US lingerie giant which has been beset by falling sales and uncomfortable questions about its billionaire founder, is being sold.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.theindustry.fashion\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Victoria\u2019s Secret has agreed a sale\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.theindustry.fashion\/#website\",\"url\":\"https:\/\/www.theindustry.fashion\/\",\"name\":\"TheIndustry.fashion\",\"description\":\"Fashion news, insights, podcasts and events for professionals from across the fashion sector.\",\"publisher\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.theindustry.fashion\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\",\"name\":\"TheIndustry.fashion\",\"url\":\"https:\/\/www.theindustry.fashion\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/06\/LOGO.png\",\"contentUrl\":\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/06\/LOGO.png\",\"width\":585,\"height\":217,\"caption\":\"TheIndustry.fashion\"},\"image\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/theindustryfashion\/\",\"https:\/\/twitter.com\/theindustryfash\",\"https:\/\/www.instagram.com\/theindustryfashion\/\",\"https:\/\/www.linkedin.com\/company\/10970016\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/85b04a16eba8c6cd7a9534c5a4262b89\",\"name\":\"Lauretta Roberts\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c0dfd15bd9969aa1cbd9cdc088372e7c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c0dfd15bd9969aa1cbd9cdc088372e7c?s=96&d=mm&r=g\",\"caption\":\"Lauretta Roberts\"},\"description\":\"Lauretta Roberts is the CEO, Co-founder and Editor-in-Chief of The.Industry.fashion She is also the former director of brand &amp; propositions of trend forecaster WGSN and a former editor of Drapers magazine.\",\"sameAs\":[\"http:\/\/www.theindustrylondon.com\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Victoria\u2019s Secret has agreed a sale - TheIndustry.fashion","description":"Victoria\u2019s Secret, the US lingerie giant which has been beset by falling sales and uncomfortable questions about its billionaire founder, is being sold.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/","og_locale":"en_GB","og_type":"article","og_title":"Victoria\u2019s Secret has agreed a sale - TheIndustry.fashion","og_description":"Victoria\u2019s Secret, the US lingerie giant which has been beset by falling sales and uncomfortable questions about its billionaire founder, is being sold.","og_url":"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/","og_site_name":"TheIndustry.fashion","article_publisher":"https:\/\/www.facebook.com\/theindustryfashion\/","article_published_time":"2020-02-20T14:30:00+00:00","article_modified_time":"2021-08-06T12:04:46+00:00","og_image":[{"width":2560,"height":1707,"url":"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2021\/07\/featureimage-copy-2-34-scaled.jpg","type":"image\/jpeg"}],"author":"Lauretta Roberts","twitter_card":"summary_large_image","twitter_creator":"@theindustryfash","twitter_site":"@theindustryfash","twitter_misc":{"Written by":"Lauretta Roberts","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/#article","isPartOf":{"@id":"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/"},"author":{"name":"Lauretta Roberts","@id":"https:\/\/www.theindustry.fashion\/#\/schema\/person\/85b04a16eba8c6cd7a9534c5a4262b89"},"headline":"Victoria\u2019s Secret has agreed a sale","datePublished":"2020-02-20T14:30:00+00:00","dateModified":"2021-08-06T12:04:46+00:00","mainEntityOfPage":{"@id":"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/"},"wordCount":328,"commentCount":0,"publisher":{"@id":"https:\/\/www.theindustry.fashion\/#organization"},"keywords":["Les Wexner","Lingerie","Sycamore Brands","Victoria's Secret"],"articleSection":["Finance","News &amp; Insight","Retail &amp; Etail"],"inLanguage":"en-GB","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/#respond"]}],"copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/www.theindustry.fashion\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/","url":"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/","name":"Victoria\u2019s Secret has agreed a sale - TheIndustry.fashion","isPartOf":{"@id":"https:\/\/www.theindustry.fashion\/#website"},"datePublished":"2020-02-20T14:30:00+00:00","dateModified":"2021-08-06T12:04:46+00:00","description":"Victoria\u2019s Secret, the US lingerie giant which has been beset by falling sales and uncomfortable questions about its billionaire founder, is being sold.","breadcrumb":{"@id":"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.theindustry.fashion\/victorias-secret-has-agreed-a-sale\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.theindustry.fashion\/"},{"@type":"ListItem","position":2,"name":"Victoria\u2019s Secret has agreed a sale"}]},{"@type":"WebSite","@id":"https:\/\/www.theindustry.fashion\/#website","url":"https:\/\/www.theindustry.fashion\/","name":"TheIndustry.fashion","description":"Fashion news, insights, podcasts and events for professionals from across the fashion sector.","publisher":{"@id":"https:\/\/www.theindustry.fashion\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.theindustry.fashion\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.theindustry.fashion\/#organization","name":"TheIndustry.fashion","url":"https:\/\/www.theindustry.fashion\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.theindustry.fashion\/#\/schema\/logo\/image\/","url":"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/06\/LOGO.png","contentUrl":"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/06\/LOGO.png","width":585,"height":217,"caption":"TheIndustry.fashion"},"image":{"@id":"https:\/\/www.theindustry.fashion\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/theindustryfashion\/","https:\/\/twitter.com\/theindustryfash","https:\/\/www.instagram.com\/theindustryfashion\/","https:\/\/www.linkedin.com\/company\/10970016\/"]},{"@type":"Person","@id":"https:\/\/www.theindustry.fashion\/#\/schema\/person\/85b04a16eba8c6cd7a9534c5a4262b89","name":"Lauretta Roberts","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.theindustry.fashion\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c0dfd15bd9969aa1cbd9cdc088372e7c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c0dfd15bd9969aa1cbd9cdc088372e7c?s=96&d=mm&r=g","caption":"Lauretta Roberts"},"description":"Lauretta Roberts is the CEO, Co-founder and Editor-in-Chief of The.Industry.fashion She is also the former director of brand &amp; propositions of trend forecaster WGSN and a former editor of Drapers magazine.","sameAs":["http:\/\/www.theindustrylondon.com"]}]}},"_links":{"self":[{"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/posts\/165653"}],"collection":[{"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/comments?post=165653"}],"version-history":[{"count":0,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/posts\/165653\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/media\/137271"}],"wp:attachment":[{"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/media?parent=165653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/categories?post=165653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/tags?post=165653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}