Retail giant Limited Brands returns to lingerie brand La Senza in the UK market
Limited Brands, the parent company of Victoria's Secret, is currently in negotiations to acquire La Senza, a UK-based lingerie brand. The Sunday Times has reported this development. However, it's important to clarify that the current owner of La Senza is Lion Capital, not Limited Brands.
Lion Capital, a private equity firm, acquired La Senza back in 2006. In a recent development, Lion Capital has hired KPMG to initiate a restructuring process for the brand. This process does not form part of the acquisition negotiations with Limited Brands.
The restructuring process includes options such as asset sales or rebranding, aiming to revitalise the brand's performance. It's worth noting that this restructuring process is a recent development and was not mentioned in the initial talks for the acquisition in February.
Despite Lion Capital's ownership of La Senza in the UK, Limited Brands now controls La Senza in Canada. The acquisition negotiations being led by Limited Brands do not include the 158 UK stores of La Senza.
La Senza, with approximately 158 stores in the UK, is a well-established lingerie brand. The acquisition of La Senza by Limited Brands is a significant move for the US investment firm, as it looks to expand its portfolio beyond Victoria's Secret.
Meanwhile, Lion Capital has also been in the news recently, having hired KPMG for a different purpose. The firm has tasked KPMG with initiating a restructuring process, separate from the acquisition negotiations with Limited Brands.
In a twist of events, the private equity firm currently involved in the takeover of La Senza, other than Limited Brands, is the US investment fund Regent. Regent acquired La Senza from Limited Brands (formerly known as L Brands) in January 2019.
As both negotiations and restructuring processes unfold, the future of La Senza in the UK remains uncertain. However, one thing is clear: the brand's journey continues, with new chapters being written by both Limited Brands and Lion Capital.
