Naked Brand Group Issues Update on Recent Activities and Appointments - Video News Alert on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - December 6, 2013) - Naked Brand Group (OTCQB: NAKD) has issued an update on the recent activities of the company. Naked, one of the world's most luxurious and environmentally conscious underwear brands, distributes its underwear and undershirts through high-end boutiques and department stores throughout North America including Nordstrom, Holt Renfrew, Boys'Co, and Freshpair.com.
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The company recently added several garment industry veterans to its team.
Christopher Heyn, previously president of several companies, including Nautica International, and CEO of Summit Golf Brands, joins the Board of Directors.
Joining the Board of Advisors is Brad McCann, who founded Concept Snowboard Clothing, which he grew into a global market leader.
Husain Patni, of MAS INTIMATES, Victoria's Secret, Nike, Gap, and Hanes fame, and now Naked Brand's Sourcing and Production Manager, is overseeing the procurement and production of its premium product lines composed of the world's finest fabrics and components.
The company selects only the finest fabrics from around the world, then spin the micromodal fabric on a 44 gauge machine, ending up material claimed to be softer than silk.
On the financial side, Andrew J. Kaplan of Barry Kaplan Associates, joins the Board of Directors. Mr. Kaplan brings extensive experience in corporate finance, having helped raise in excess of $500 million for his clients over the past 10 years. He has already established an $8.3 million equity line for the company to fund its inventory and growth plans.
Andrew Kaplan stated, "I believe that Naked has the potential to become a major retail brand and feel that my career working with emerging growth companies will add value to the board."
Joel Primus, President & CEO, added, "The fact that these seasoned professionals are joining our team and embracing our vision, solidifies our growing presence in the global apparel industry."
The company recently rolled out their Pima Cotton t-shirts in 10 different colors, their space-age "silver" underwear collection, their new innovative tencel collection and their NKD collection, which is targeting a demographic of college students and younger shoppers. Plans for 2014 include expansion into women's day wear collections of bra's, underwear and lounge wear, as well as further expansion of the Naked and NKD lines both domestically and abroad.
The shares are trading at $0.17, and with approximately 34 million shares outstanding, the company is capitalized at $5.8 million.
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Barry Morgan, CFO