L Brands to separate and spin off Victoria’s Secret and Bath & Body Works

L Brands to separate and spin off Victoria’s Secret and Bath & Body Works
·2 min read

L Brands Inc. announced Tuesday that Victoria’s Secret and Bath & Body Works will separate into two publicly traded companies through a tax-free spinoff that should be completed in August 2021. Martin Waters will continue to lead the Victoria’s Secret business as a stand-alone company. The Victoria’s Secret business also includes the Pink brand, which targets a younger customer.