Victoria’s Secret sold as women demand comfort

NEW YORK (AP) – Victoria’s Secret, which once defined sexy with its leggy supermodels in their lacy bras and oversized angel wings, has a new owner.

Now, the big question is whether the once sought after but now struggling brand can be reinvented for a new generation of women demanding more comfortable styles.

The company’s owner, L Brands, said Thursday that the private-equity firm Sycamore Brands will buy 55% of Victoria’s Secret for about $525 million. The Columbus, Ohio, company will keep the remaining 45% stake.

The selling price signifies a marked decline for a brand with hundreds of stores that booked about $7 billion in revenue last year.