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July 10, 2007
Limited Slips Out Of Apparel Business
Limited Brands moved out of the apparel business this week with the sale of a 75 percent stake in its Limited Stores division. The stake was sold to Sun Capital Partners Inc. in a noncash deal that will let the company focus on its intimate apparel and beauty products divisions.
The news comes shortly after the company sold its Express division to Golden Gate Capital for $602 million.
Limited Brands said that its apparel properties had shrunk to just 20 percent of its business and it sees more growth in its Victoria’s Secret and Bath & Body Works properties.
As for the Limited stores, Sun Capital Partners plans to reinvigorate the business, which it says has a strong customer base.
Posted by Blacks on July 10, 2007 09:57 AM
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