Victoria's Secret revealed as lingerie firm nets billions for Hung
Hung Yau-lit, chairman of the world's biggest bramaker, can thank Victoria's Secret for his newly minted fortune.
Hung's fortune rose to $1.1 billion as lingerie supplier Regina Miracle International Holdings Ltd has soared since its October initial public offering, according to the Bloomberg Billionaires Index. The Shenzhen-based supplier for top brands such as Victoria's Secret and Calvin Klein Inc has surged 71 percent since its debut on the Hong Kong exchange on Oct 8, including a 12.3 percent gain on Tuesday. Hung, 53, owns 885 million shares, or 72 percent of the company.
Jackson Yu, an analyst at RHB OSK Securities Hong Kong Ltd said: "Victoria's Secret is pretty innovative in fabric and styles, and its delivery cycle is quicker than other traditional brands."
