Victoria’s Secret to become a publicly traded company as business rebounds

Victoria’s Secret is getting spun off by its owner into a separate, publicly traded company as its once-battered business has bounced back during the pandemic.

L Brands, which had put Victoria’s Secret on the block earlier this year, said Tuesday that it will stage an initial public offering for the bra-and-panties empire by August after turning away offers from “multiple potential buyers” that fell short of expectations.  “Ultimately, the board concluded that the spin-off of Victoria’s Secret into a separate, public company would provide shareholders with more value than a sale,” L Brands said in a statement.