CP Brands Group Purchased The Limited
The New York company acquired the heritage brand from Sycamore Partners to launch a new sportswear line.
Updated on Oct. 5, 2026 in Business Strategy
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CP Brands Group has acquired The Limited from Sycamore Partners. The buyer plans to pivot the historic label into an independent sportswear brand with international distribution.
Why it matters
The acquisition fills a gap in the portfolio of CP Brands Group for a women's sportswear label. The company aims to capitalize on brand nostalgia while shifting the business model away from the store-based strategy that preceded the 2017 bankruptcy.
Sycamore Partners originally acquired The Limited for $26.8 million in 2016. The current licensing agreement covering The Limited branding at 290 Belk stores costs $10 million annually.
The players
CP Brands Group
This New York-based firm acts as a brand management and licensing company.
Sycamore Partners
This private equity firm specializes in the retail and consumer sector.
The Limited
This retail brand was established in 1963 and later became a private-label name at department stores.
Eli Yedid
He is the chief executive officer of CP Brands Group.
Harry Adjmi
He serves as the chief executive officer of One Step Up.
The details
CP Brands Group, led by CEO Eli Yedid and One Step Up CEO Harry Adjmi, will utilize a licensing business model for the brand instead of maintaining proprietary retail stores. The company intends to test the retail market with a New York City pop-up store as it prepares for expansion into Asia and Europe.
Timeline
Leslie Wexner founded The Limited in 1963.
Sycamore Partners purchased The Limited in 2016.
The Limited closed all stores and filed for bankruptcy in 2017.
CP Brands Group acquired The Limited in September 2026.
The Belk licensing agreement for The Limited brand expires at the end of 2026.
Market Landscape
This acquisition marks a departure from the 2017 bankruptcy and store closure of The Limited by shifting to a licensing-only model. The move follows a broader industry trend where investors leverage legacy brand recognition to sell apparel through third-party retailers.
Shoppers currently accustomed to finding The Limited products at Belk stores may notice changes to product availability after the licensing agreement expires in late 2026. Future access to the brand will likely shift toward new distribution channels as CP Brands Group rolls out its independent sportswear strategy.
The takeaway
Legacy brands often find new life through licensing deals that strip away the high overhead costs of traditional brick-and-mortar storefronts. Consumers should expect to see heritage names repurposed for different retail environments as private equity firms continue to cycle brand ownership.
Further reading
Learn more about evolving retail models in the Business Strategy section.
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