Metamorphosis: Victoria's secret spreads its wings

Victoria's Secret, one of the world's most famous lingerie brands, is in early talks to buy La Senza in the UK.

Limited Brands, its American parent, is in discussion with Lion Capital, the private equity owner of La Senza's 175 underwear shops. Sources close to Limited Brands said it has been eyeing up La Senza over the past year but talks are still at an early stage. Victoria's Secret is already planning its first UK store on Bond Street, London, and more across Europe. Limited Brands also wants to expand its cosmetics chain, Bath & Body Works, in Europe. Lingerie is becoming a crowded market: Abercrombie & Fitch's lingerie chain, Gilly Hicks, and Theo Paphitis's Boux Avenue are among the new chains opening here.