La Senza

La Senza has been owned by Beverly Hills-based private equity firm Regent LP since the 2019 transfer from L Brands, completing a multi-year ownership transition that began with L Brands’ 2006 acquisition for approximately $628 million and ended with the divestment as L Brands narrowed strategic focus to Victoria’s Secret and Bath & Body Works. Regent LP assumed all of La Senza’s operating liabilities in the transfer and has subsequently rationalized the North American store fleet aggressively, from approximately 126 stores at acquisition to 64 directly operated Canadian locations and zero standalone US stores as of 2024.

La Senza was founded in 1990 in Canada by Laurence Lewin and Irving Teitelbaum, building through the 1990s and 2000s into the dominant Canadian lingerie retailer with 322 corporate Canadian stores at its January 2009 peak. The brand faced an involuntary Chapter 7 bankruptcy petition from suppliers (MGF Sourcing US) in January 2020 over approximately $42 million in unpaid goods, which was resolved through settlement and dismissed in April 2021. The bankruptcy episode reflected broader retail-sector pressures including online competition (Aerie body-positive marketing, fast-fashion intimates pricing), reduced mall foot traffic, and COVID-19 disruptions. La Senza reported $120 million in peak revenue in 2024 with approximately 30% derived from e-commerce.

La Senza operates a hybrid corporate and franchise structure: 64 directly run Canadian stores concentrated in Ontario, Quebec, and British Columbia, plus international franchise partnerships across 200+ locations in Europe, the Middle East, Asia, and parts of Latin America. The e-commerce platform serves both Canadian and US customers without standalone US retail. For mall operators in Canada, La Senza is a stable but contracting mainline counterparty with selective lease renewals rather than expansion; international franchise market decisions route through Regent LP’s licensee partners rather than direct La Senza commercial engagement.