Billionaire Les Wexner, the founder of L Brands, the parent company of Victoria’s Secret and Bath and Body Works, is now left owning just 2 percent of the company he spent over fifty years building.

Who owns L Brands now?

Billionaire Les Wexner, the founder of L Brands, the parent company of Victoria’s Secret and Bath and Body Works, is now left owning just 2 percent of the company he spent over fifty years building.

Did L Brands sell Victoria Secret?

L Brands acquired Victoria’s Secret in 1982 for $1 million, adding it to Les Wexner’s war chest of mall brands that already included Express, Lane Bryant and The Limited.