Who Currently Owns Victoria's Secret
Victoria's Secret is currently owned by Victoria's Secret & Co., a publicly traded company. The brand was previously controlled by L Brands, which spun off Victoria's Secret as an independent public company in May 2021.
The Role of Sycamore Partners
Sycamore Partners, a private equity firm, acquired a majority stake in Victoria's Secret in 2020. The firm gained significant influence over the brand's strategy, including store closures and leadership changes, before the company went public.
Historical Ownership and L Brands
For decades, Victoria's Secret was a flagship brand under L Brands, formerly known as Limited Brands. L Brands retained a minority interest after the spin-off but gradually reduced its stake as the company focused on other retail divisions.
Key Facts About the Ownership Structure
Today, Victoria's Secret operates under its own public parent entity. Institutional investors and major shareholders now hold most of the equity. The brand continues to operate hundreds of stores and an online presence under this ownership model.
