Naked Brand Group Inc. announces the final closing of a $1,150,350 oversubscription of its private placement financing (the "Offering") of units (the "Units"), bringing total aggregate gross proceeds to $7,309,832 million, including the initial closing amount of $6,159,482 as previously announced on June 10, 2014.
The final closing of the oversubscribed Offering follows Naked's announcement in early June of a new senior management team headed by Carole Hochman as CEO & Chief Creative Officer, Michael Flanagan as COO/CFO, and Carlos Serra as the VP of Sales and Merchandising.
The addition of new capital resources and highly experienced leadership will enable Naked to pursue a strategy to establish itself as a global lifestyle brand offering innovative and luxurious inner, lounge, sleep and active wear to both men and women.
"We are thrilled by the success of this private placement," said Carole Hochman, Naked's new CEO and Chief Creative Officer. "This additional capital is a critical component of the transformation of Naked into a company empowered to realize its potential as a brand and as an organization. We are already hard at work to make that potential a reality by expanding our distribution, extending our collections and beginning to increase awareness of our brand. We believe the future holds great promise for Naked."
About Naked Brand Group
Established in 2010, Naked is a global lifestyle brand offering one of the world's most comfortable and luxurious lines of innerwear and loungewear. The Naked core brand philosophy is to provide apparel that makes people feel sexy and stylish while being as comfortable as wearing nothing at all.