Victoria’s Secret Is Finally Separating from Bath & Body Works in August
The parental company named L Brands Inc. announced that it will conduct a tax-free division of Victoria’s Secret in August. This, in turn, will finally allow the brand to part from Bath & Body Works.
In recent years, the lingerie business’ sales dropped 27.9 percent. This led to the closing of 233 of their stores. While Bath & Body Works managed to boost its strengths during the pandemic situation and rose 20.1 percent to 6.4 billion dollars.
But now Victoria’s Secret, which has 929 shops located all around the world, will become absolutely self-reliant, without the support of Bath & Body Works.
Over the past 10 months, the company has made significant progress in restructuring Victoria’s Secret policies, achieving a series of cost-cutting actions that collectively have significantly increased its profitability.
Both Bath & Body Works and Victoria’s Secret brands are the leaders in their particular markets. And now as separate businesses, each of them will benefit from a focus on delivering growth tactics that are best suited to the company’s different customer segment and strategic purposes.