L Brands, the owner of Bath and Body Works, and Victoria's Secret announced it will be shutting down their iconic Henri Bendel stores in January 2019. CEO Leslie Wexner said in a company statement."We have decided to stop operating Bendel to improve company profitability and focus on our larger brands that have greater growth potential". Luxury brand Henri Bendel, was acquired by L Brands in 1985. According to Business Insider, L Brands shares are down 53% this year