L Brands is close to a deal to sell Victoria's Secret to private equity company Sycamore Partners, CNBC reported Sunday night. A price was not reported, but CNBC said the deal could be announced this week. The Wall Street Journal reported in January that L Brands was considering selling the Victoria's Secret brand, as well as Chief Executive Lex Wexner stepping down from his role. CNBC said it was unclear what Wexner's role, if any, would have after the deal. L Brands shares are down 11% year to date, compared to the S&P 500's 23% gain.
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L Brands nears sale of Victoria's Secret to Sycamore PartnersFor Sycamore, a deal to buy Victoria's Secret would be a bet on a dominant player in the large intimate apparel industry. Still, the Victoria's Secret brand has had a tumultuous number of years.
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10 Natural and Organic Makeup Brands You Need to KnowShop 10 of the best natural beauty brands on the market. Plus, Jessica Alba gives her tips on how to switch your makeup routine to natural brands.
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