Victoria’s Secret Sold to Private Equity Firm, Hearst and Union Have First Meeting

by Aria Darcella

Read today’s dose of chic intel right here…

Victoria’s Secret Sells (New York Times)
It’s official: L Brands has sold a majority stake of Victoria’s Secret to Sycamore Partners for $525 million. The private equity firm now holds 55 percent of the company. Les Wexner, CEO and chairman of L Brands, will step down from his position and become chairman emeritus when the deal is finalized.

Victoria's Secret

Victoria’s Secret (Shutterstock)

Hearst Executives and Union Committee Have First Meeting (WWD)
On Tuesday, executives at Hearst — including chief content officer Kate Lewis — finally sat down with members of the Union Organization Committee and the Writers Guild of America, East. The meeting was described as “positive,” although both sides are still waiting for the National Labor Relations Board to outline when an election to unionize can happen, and the number and size of bargaining units. They are also awaiting the results of the NLRB’s investigation into claims of an existing union. The Hearst Media Union filed for the election last December, and originally expected it to take place in January.

Hearst Media Union

(Unsplash; Elle Magazine; Hearst Media Union)

Gemma Chan to be Honored by Max Mara
The 2020 Women In Film Max Mara Face of the Future Award will be presented to Gemma Chan at the annual Women In Film Gala this June. “Gemma exemplifies the WIF Max Mara Face of the Future Award,” explained Kirsten Schaffer, executive director of Women In Film. “She is an extraordinarily versatile and talented actress working on stage, film, and television. Her groundbreaking roles often defy racial stereotypes and range from captivating performances in Crazy Rich Asians to women-directed films like Mary Queen of Scots, Captain Marvel, and the upcoming Eternals.”

Gemma Chan (Courtesy Max Mara)

Earlier today, Chan attended Max Mara’s Fall 2020 show in Milan. The collection was inspired by daydreams of a life at sea as seen through the lens of the Max Mara woman as she sits at her desk in her gorgeous office taking a moment for herself between high-powered meetings, with nautical touches that brought whimsy and flair to a wardrobe full of elegant, boardroom-ready clothes.

Iconic, Archival Alexander McQueen Pieces Are Going Up for Auction (Dazed)
Start saving up! An archive of ’90s McQueen items like clothes, runway invitations, and other ephemera, are going up for auction. The collection — which includes pieces from the Fall ’95 “Highland Rape” and Spring ’96 “The Hunger” shows — was previously owned by Ruti Danan, a friend of McQueen’s and the former head of his studio. The Boston-based RR Auction is hosting the sale online here, which ends February 22.

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