Not to be outdone with the recent heat-up in Private Label Credit Cards (PLCC), ranging from Amazon PLCC to American Express, LL Bean to Citi, PayPal extending their relationship with Synchrony, Comenity extended their long-term relationship with L Brands, a leading specialty retailer of lingerie and beauty products and an internationally recognized brand. Founded in 1977 and headquartered in Columbus, Ohio, Victoria’s Secret is a business of L Brands (NYSE: LB), with more than 1,000 stores worldwide, as this press release announces.
L Brands reported sales of $12.6 billion in 2017.
In Mercator’s recent Research Report on the PLCC sector, Comenity was identified as a top tier player iin private label credit cards, along with American Express, Barclays, Capital One, Chase, Synchrony TD Bank and U.S. Bank.
As general purpose credit cards peak, we expect continued growth in the PLCC sector, which today support more than 300 million U.S. cardholders
Overview by Brian Riley, Director, Credit Advisory Service at Mercator Advisory Group