Intimate Brands to Handle Personal Care Products Business Unit

Intimate Brands, Inc., leading supplier of intimate apparel, will integrate its personal care design, development, formulation and sourcing functions at its Gryphon Development subsidiary, into Bath & Body Works and the Intimate Beauty Corporation's Victoria's Secret Beauty Company.

The change is expected to create cost efficiencies and enhance the growth potential of Intimate Brand's personal care business over the long-term.

"Over the past 12 years, we have developed very strong expertise in personal care product development and sourcing at Gryphon that has been crucial to the growth of Bath & Body Works and Victoria's Secret Beauty Company," said Leslie Wexner, Chairman of Intimate Brands. "The Gryphon team, led by CEO Robert Ruttenberg, has been a strategic partner to these businesses, resulting in very innovative and effective products from suppliers around the world. But now, eliminating the business structure around Gryphon and allowing our brands to go 'business to business' will give us opportunities for greater speed, efficiency and growth."