(Filed Under wholesale Lingerie News). The L Brands board of directors has approved the previously announced separation of Victoria’s Secret and Pink into an independent, publicly traded company as of August 3rd.
The new firm, which will also include Victoria’s Secret Beauty, will be named Victoria’s Secret & Co. and will trade on the New York Stock Exchange under the symbol “VSCO.”
According to L Brands, “the separation will be achieved through the distribution of 100 percent of the shares of Victoria’s Secret to holders of L Brands common stock.”
The name of L Brands will change to Bath & Body Works, Inc. and its stock symbol will change from “LB” to “BBWI.”
The announcement noted that the two lingerie brands current include “nearly 1,400 retail stores worldwide and a predominately female workforce of more than 25,000.”
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