Next set to win battle for lingerie chain

Leicester retail giant Next is set to win the battle to take over the Victoria’s Secret business in the UK.

Next has landed an exclusivity agreement until the end of September after being chosen as the franchise partner by administrators Deloitte.

Sky News says that Next has not yet agreed which of the lingerie chain’s 25 shops it will keep open, if any.

It is thought that around 30 brands approached Deloitte about taking on the Victoria’s Secret business in the UK, which continues to trade as normal in the US.

Victoria’s Secret opened its first UK store in 2012.