L Brands Inc. said Dec. 13 that the company will sell its lingerie brand La Senza to an affiliate of private equity firm Regent LP.
The deal includes La Senza's home office organization, North American stores and e-commerce and international partnerships.
Ohio-based L Brands did not disclose the financial terms of the deal.
The private equity firm will take over La Senza's operating liabilities.
The specialty retailer expects to close the deal in January 2019. Financo was the adviser to L Brands on the deal.
L Brands projects that for 2018, La Senza's revenue will be approximately $250 million while its operating loss will come in at $40 million.
L Brands was reviewing all options for La Senza in order to focus on its core business. Also, the company will end all operations of its high-end women's retail banner Henri Bendel in early 2019.