L Brands to Split Victoria's Secret, Bath & Body Works Into Two Companies

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COLUMBUS, Ohio (WTVN)--L Brands, based in central Ohio, has announced a plan to split Victoria's Secret and Bath & Body Works into two separate companies.

The company's Board of Directors unanimously approved the move, which includes Victoria's Secret Lingerie, PINK, and Victoria's Secret Beauty all involved in the tax-free spinoff to the company's shareholders.

A statement from the company says the Board concluded that a spin-off of the company would provide more value to shareholders than a sale.

L brands previously tried to sell Victoria's Secret to a private equity firm, but that deal fell through in 2020.

There were also reports that L Brands received another valuation for Victoria's Secret, and more offers to buy the company did come in as high as the valuation.

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