Chapter 70

Chapter 70 Decision to eliminate Victoria's Secret

Caroline soon passed away.

This New York lawyer, Satan, is extremely busy and her clients are not limited to Abel.

After Caroline left.

In David's office, Abel and David continue to talk.

Abel looked at David: "Is that so? Anyway, we keep doing our work? "

David Mellon nodded: "So this is tens of millions of dollars worth of our annual legal fees."

"Well, it's definitely worth it."

"Trust me, man." David Mellon shrugged and repeated:

"The mere fact that her last name is Rehnquist is worth the ten million we spend on her every year."

"I must say that your suggestion has been of great benefit to us." Abel also smiled.

At that time, he and the company chose Caroline to be the chief legal advisor for himself and the company.

Abel has some concerns.

Because Caroline is too expensive. This is a bit more expensive than most of the top ten law firms in the United States.

It's ridiculously expensive.

But then David told her that Caroline's last name was Rehnquist.

also gave the name of another person with the last name Rehnquist.

Abel accepted immediately. Through the Mellon family's connections, a long-term legal cooperation agreement was signed with Caroline.

The cost is very high, very expensive.

So far, it looks like it's definitely worth it.

This topic ends here.

The two started talking about other things. "What the hell was Les Wexners thinking.

Does he really think his broken underwear business is worth more than $600 million? "

Speaking of this, Abel couldn't help but speak up.

He's talking about Smith Capital, the company that proposed LBrands buy Victoria's Secret, a lingerie brand owned by LBrands.

David Mellon picked up his coffee and took a sip. After swallowing the coffee down his throat, David said:

"There's nothing wrong. I think the reason for the refusal is twofold."

"explain."

"One of them is this guy Les Wexner.

Can really enjoy this underwear brand. "

"Another reason is.

Les Wexner is also well-known in New York. He may have known that the prosecutor's office was investigating us.

Maybe this guy wants to take advantage of the firepower and wants to continue increasing the supply. "

"What? Isn't 600 million US dollars enough?" Abel said: "The value of all LBrands is only about a billion!

"There is a little more hope. And who will say no? Greed is what made Wexner successful. I'm greedy too," David said and shrugged.

Abel angrily shook his head, picked up the coffee cup and intended to take a sip.

Above David's desk, the phone rang.

"The phone is ringing." He called back. David walked over, picked up the phone and looked at it.

"It's Wexner," David said.

"Pick up the phone. See what this guy has to say."

David pressed the call button and actually put it on speaker.

The voice was a bit quiet but both of them heard it clearly. "Hello David."

"Good afternoon, Les."

"David, I reported to the board that Smith Capital wants to buy Victoria's Secret.

After a study by the board of directors, we unanimously decided to be ready to sell this very valuable brand to Smith Capital for $600 million. "

Les Wexner's voice came from the microphone.

David Mellon looked at Abel.

Abel raised his eyebrows, what does this Wexner mean? I said before I didn't want to sell, but now I want to sell.

He waved his hand to signal David to continue chatting with the other party.

David said, "That's not what you said before, Les.

I told my boss they don't want to sell. "

"Sorry, this is my personal opinion. But after being studied by the board of directors, they agreed to sell it. I can't go against the board. "

[He lies. ]

David said this to Abel.

Abel nodded. To his knowledge, Les Wexner currently owns more than 51% of L Brands shares.

The board of directors of the entire clothing group L Brands is his speech.

It's all just empty words.

"Okay. So you mean $600 million now?"

"Exactly."

"This price is a bit expensive. Rice."

"David, what are you trying to say, what do you mean?"

"I mean the price is too high."

In front of the microphone, Les Wexner was silent for a moment.

A few seconds later, his voice rang out again.

"What do you mean, David?

David was about to speak but Abel picked up the phone.

"I mean, Mr. Wexner, you think about those damn farts in Texas.

This is why Smith Capital decided not to buy Victoria's Secret. "

"My name is Abe Smith. Goodbye, Mr. Wexner."

After speaking, Abel directly hung up the phone.

He threw the phone to David, he took it and said:

"Really don't want it anymore? Judging by this guy's intentions, the most he can buy is 400 million."

"Though I don't know why he lowered the price like that.

But haven't you always wanted that before? "

Before that, when Abel put David in contact with Les Wexner.

Abel says Victoria's Secret is a unicorn.

Even if you buy it at a high price of 600 million US dollars, you can earn many times more in a few years.

Now you can't stop buying it just for a breath, right?

"Victoria's Secret really has huge potential," said Abel. But one thing I got wrong before is that it can actually be copied and plagiarized. "

"Copying, plagiarism?" David frowned.

Is this necessary?

What does Victoria's Secret currently copy or plagiarize?

There aren't ten underwear brands like this in the United States, but there are six or seven. He previously supported Abel's acquisition of Victoria's Secret because he believed in Abel.

He thought Victoria's Secret had potential that he couldn't see, but Abel could.

Like in the financial markets, Abel's previous activities he did not understand.

"Exactly."

Abel said affirmatively.

This thought came to him as he left the dock. After hearing David talk about Victoria's Secret, he turned down her offer.

In the car, a plan appeared in his mind.

That's what it says.

Follow the path of Victoria's Secret, don't let Victoria's Secret go anywhere.

Time and space go together,

This is the reason why the Victoria's Secret brand can be successful. There are actually two main points.

The first point is the most important and most important.

That's marketing.

Victoria's Secret has taken a completely different marketing route compared to other lingerie brands and even luxury brands.

Constantly promoting Victoria's Secret models, there are also Victoria's Secret fashion shows. With a design quite different from other types of underwear, it has attracted a large number of LSPs from all over the world.

Through these LSPs, influence these women.

This type of marketing has greatly enhanced the power of the Victoria's Secret brand.

This is one of the main reasons for Victoria's Secret's success.

But this key point is also the easiest to copy. It is nothing more than various online advertisements, various shopping news and various marketing articles.

As a reincarnated person, Abel was used to this kind of exaggeration.

Abe is about to take control of CAA and plans to venture into the media industry.

He thinks that in this field he has facilities available to him.

In terms of marketing, we will never do worse than the original Victoria's Secret. That's just an exaggeration.

As long as there is money and channels, who wouldn't do it?

Besides, he didn't need to personally show up for this kind of thing.

All he needs to do is find trustworthy management talent to make important marketing points.

Let these people run the business. Michael Levine is very good like that.

Time and space go together,

CAA's current senior broker became CAA's CEO later in 2011.

This is enough to prove that Michael Levine has ability in the entertainment industry.

So while in the car, he considered making Michael Levine president of the new company.

Seriously, Victoria's Secret models themselves are more inclined towards the entertainment industry. This is a completely different model from traditional underwear brands and traditional modeling circles.

It must be like letting entertainment elites run the business.

Big problem.

In two years, Victoria's Secret has truly recovered.

Then just dig up the entire management that invented it and spend a little more money to get rid of it. Victoria's Secret's parent company, LBrands, could never compare to Wall Street-based Smith in terms of cash burn.

(end of this chapter)