Victoria’s Secret Billionaire Founder Prepping Company For Sale

Shares of Victoria's Secret parent company L Brands Inc. jumped 15% in the pre-market Wednesday following The Wall Street Journal report that Leslie Wexner, the billionaire founder of Victoria’s Secret, is considering to step aside and sell the brand.

 

Sources familiar with the talks told the Journal that a full or partial sale of Victoria’s Secret is expected. 

The brand has suffered declining sales in recent years, sending the L Brands stock down 84% in four years.

A succession plan for Wexner and a sale of the company could come next month, though the sources said there’s nothing in writing at the moment.

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