L Brands (Columbus, Ohio) has signed a deal to sell its brand La Senza for an undisclosed sum.
The deal, which is expected to be finalized in January 2019, has been signed with private equity firm Regent LP (Beverly Hills, Calif.). The deal will transfer all assets including ownership and operating control of all North American La Senza stores as well as its website and international partnerships to Regent.
In exchange, the firm will assume all of La Senza’s operating liabilities and will give L Brands future potential consideration of other monetization of La Senza.
According to Women’s Wear Daily, this is part of L Brands’ efforts to cut costs of late.