Money L Brands expected to sell Victoria’s Secret to private-equity company, report says February 20, 2020February 20, 2020Kelly Tyko, USA TODAYComments Off on L Brands expected to sell Victoria’s Secret to private-equity company, report says Sycamore PartnersĀ could take L Brands' Victoria's Secret brand private, according to a report that also says CEO Les Wexner is expected to step down.