Under the terms of the agreement, Victoria’s Secret will maintain a 51-percent majority stake in the business, while Regina Miracle will“I am delighted to announce this partnership with Regina Miracle, who has been a valued merchandise supplier partner for more than 20 years,”said in a statement. “Together with Regina Miracle, we aim to grow the China business through joint investment in product development, distribution and marketing.
We expect the partnership will positively impact the speed and agility of the business to benefit consumers and provide us with a platform for a strong future in this important market. This [joint venture] with Regina Miracle in China completes a multiyear repositioning of the international business of the company and we believe establishes a platform for accelerated sales and earnings growth in the market over the next several years.