In October 2006, La Senza was purchased by L Brands of Columbus, Ohio for $710 million CAD in cash, a company which already owned Victoria's Secret.

[10] Reasons for the brand's decline included discontinuing products that Canadians preferred, such as PJs, and to remove internal category duplication with Victoria's Secret.

In January 2019, L Brands sold the La Senza business to Regent, a Beverly Hills-based private equity firm controlled by investor Michael Reinstein.

Businessman Theo Paphitis bought the United Kingdom and Ireland franchise, called La Senza UK, and began expanding it, eventually with sub-franchises in other parts of the European Union.

[17] On 9 January 2012, Kuwait based international retail franchise operator Alshaya announced it had reached agreement to take control of much of the ongoing La Senza business in the UK.

Alshaya said it would retain 60 stores, securing around 1,100 jobs while ensuring the continuation of a strong and popular brand on the UK high street.

[19][20] Difficult trading conditions however continued and by June 2014 administrators were once again appointed to the struggling UK sector of the La Senza business.

Models such as Ginta Lapina, Emily Didonato, Irina Shayk, Lauren Gold, Petra Němcová, Isabeli Fontana, Bianca Balti, Yamila Díaz, Doutzen Kroes, Daniela Pestova, Sophie Anderton, Rebecca Romijn, Caroline Winberg, Emma Heming, Jessica Stam, Maria Sokolovski, and Niclyn Rendall have been featured in an array of campaigns.