The move puts Victoria’s Secret on the New York Stock Exchange as a stand-alone firm.
On Friday, after many months of deliberating, parent company L Brands’ board approved the spin-off of the lingerie brand, which includes the Victoria’s Secret Lingerie, Victoria’s Secret Beauty and Pink divisions.
The changes are expected to take effect Aug. 2. L Brands’ common stock will begin trading under the new stock ticker the following day. After the deal to sell a majority stake of Victoria’s Secret to private equity firm Sycamore Partners fell through amid the pandemic, L Brands said it would separate the lingerie brand from the more lucrative Bath & Body Works brand.
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