Friday, September 18

Hain Celestial, Victoria’s Secret Look at Big Changes in Britain


What do Victoria’s Secret, the lingerie brand, have to do with Hain Celestial, the healthy snacks company? Usually, not a lot.

But the Financial Times reports that both a U.S. companies re worried about or at least taking actions regarding potential problems related to Brexit.

The London-publication reported that Victoria’s Secret warned that a weaker currency and economy in the United Kingdom “are undermining UK recovery efforts.”

The publication said that a “falling pound increases import costs for businesses based in Britain and also dents sterling revenues for foreign groups such as Victoria’s Secret,” owned by L Brands.

Hain Celestial recently announced the sale of Tilda, its London-based basmati rice brand, for $342 million.

“While a solid business with accretive margins, given the premium valuation we received, currency volatility, Brexit uncertainty and the long-term business headwinds, it was the right time for Hain to divest it,” Hain CEO Mark Schiller said at the time.

Victoria’s Secret and Hain Celestial aren’t the only two U.S. companies that have been talking about the impact of Brexit and uncertainty on their business.


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