Victoria's Secret sells stake in China business for $45m

Victoria's Secret sells stake in China business for $45m

Pedestrians look inside a Victoria's Secret Stores LLC store, a subsidiary of L Brands Inc., at night in Chicago, Illinois, U.S., on Monday, Aug. 7, 2017. Photographer: Christopher Dilts/Bloomberg

Victoria’s Secret & Co said on Tuesday it will sell a 49% stake in its China business to Hong Kong-based lingerie maker Regina Miracle International Ltd for $45 million in cash, aiming to boost sales with the help of a local partner.

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