Cases & Deals

  • Home
  • Practices
  • L Brands announces partnership with Next PLC for Victoria's Secret UK

Share

L Brands announces partnership with Next PLC for Victoria's Secret UK

October 2020

Client(s) L Brands, Inc.

Jones Day represented L Brands, Inc. in its partnership with Next PLC for its company-owned Victoria's Secret business in the United Kingdom and Ireland. Under the agreement, L Brands and Next formed a joint venture ("JV"), where the JV acquired substantially all of the assets of the Victoria's Secret business in the United Kingdom (out of Administration) and Ireland. The newly formed JV will operate all Victoria's Secret stores in the UK and Ireland. The UK and Ireland digital (online) business, which is currently operated by Victoria's Secret in the United States, will be folded into the JV in Spring 2021. Next PLC owns 51% of the JV, while Victoria's Secret owns 49%.

Contacts

Before sending, please note:

Information on www.jonesday.com is for general use and is not legal advice. The mailing of this email is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Anything that you send to anyone at our Firm will not be confidential or privileged unless we have agreed to represent you. If you send this email, you confirm that you have read and understand this notice.