Victoria’s Secret & Co. and Bath & Body Works Inc. began trading on their respective tickers on Tuesday.
Shares of Victoria’s Secret, trading under its new ticker symbol VSCO, soared on the company’s first day as a stand-alone company, closing up 29.38 per cent at $59.50 each.
The separation comes as Victoria’s Secret has been working transform an image that many found outdated and out of touch. Most recently, it launched a major rebrand focused on diversity, inclusion and female empowerment. Victoria’s Secret new board will be made up of seven directors, six of whom will be women, including the chair.
“On behalf of the management team and the board, I’d like to extend our sincere appreciation to all the associates who worked so hard on the successful spin-off of Victoria’s Secret,” Andrew Meslow, CEO Bath & Body Works. “I am grateful to all of our associates for their contributions to the success of our business as we look forward to capturing the opportunities ahead and we wish the Victoria’s Secret business and associates well as they embark on their journey as a stand-alone public company.”
