Australian billionaire Brett Blundy wages high-stakes campaign to oust chair of Victoria’s Secret

Blundy’s investment firm, BBRC International, owns about 13% of the US-listed lingerie brand, giving it a potential platform to launch a hostile takeover Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast Australian billionaire Brett Blundy is waging a high-stakes campaign to oust the long-term chair of Victoria’s Secret & Co, setting the stage for a showdown at the company’s annual meeting in the US on Thursday. Blundy’s investment firm, BBRC International, owns about 13% of the US-listed Victoria’s Secret lingerie brand, making it the second-biggest single shareholder and giving it a potential platform to launch a hostile takeover. The Monaco-based Australian is also chair of the Lovisa jewellery brand, founder of the Léays lingerie stores and former owner of the Bras N Things and Honey Birdette brands. BBRC is seeking the removal of long-term chair Donna James from the board after a years-long battle over the company’s strategy and its decision not to appoint him as a director. Blundy, who has a net wealth of $4.5bn according to the AFR’s rich list, has been pushing for changes at the company since ab