Women's clothing and lingerie retailer Limited Brands , which owns Express and Victoria's Secret, is close to selling its apparel business, a trade publication reported today.
According to sources familiar with the talks, Schottenstein Stores and Gordon Brothers Group are two leading potential buyers for the company's Express and Limited stores, according to a report in Women's Wear Daily, which valued Limited's apparel business at $2.1 billion.
President of Limited's apparel group Jay Margolis may also be interested in a buyout deal structured like a management buyout, WWD reported.
According to WWD, real estate sources said real estate holdings tied to the Limited and Express operations would also be part of any deal.
Limited could not be reached immediately for comment.