Naked Brand likely to get $25m investment from Sapinda

02 Sep '18

3 min read

Courtesy: Naked Brands

Naked Brand Group, leader in intimate apparel and swimwear, is expected to get a $25 million strategic investment from Sapinda Holding, a leading European investment firm and owner of the globally recognised Italian luxury-lingerie firm La Perla. Naked Brand Group has entered into a non-binding term sheet in this connection. Sapinda was established in 2009.

If the investment contemplated by the term sheet is completed, it will provide unique operating synergies, investment capital that would support strategic acquisitions, as well as direct-to-consumer and eCommerce initiatives globally.

“We are pleased to announce the term sheet for a proposed $25 million strategic investment from Sapinda, owner of the globally recognised Italian luxury-lingerie firm La Perla, which we view as a validation of our operating model and strategy,” said Justin Davis Rice, chief executive officer of Naked Brand Group. “If completed, this investment will provide us with additional capital to support our plans to complete accretive strategic acquisitions to better utilise our under-leveraged operating infrastructure. We have identified several attractive opportunities within the eCommerce and direct-to-consumer space that we believe have the potential to create notable shareholder value over the long term. I look forward to announcing new developments surrounding these strategic initiatives as appropriate,” concluded Davis Rice.

Established in 2009, Sapinda is a diversified global investment group focused on special situation investment opportunities across continental Europe, Africa, Middle-East and Asia. In February 2018, Sapinda acquired 100 per cent of the shares of La Perla Global Management (UK) Limited, the parent company of La Perla Group, a leading global luxury-fashion brand, rooted in lingerie. Founded in 1954 by Ada Masotti and now headquartered in London, La Perla is a global luxury-shopping brand employing more than 1,500 people in over 150 global locations, with flagship stores in all key metropolitan cities in America, Europe, the Middle-East and Asia and with over €140 million in FY2017 revenues.

“We have been looking at the luxury goods sector for a while and are delighted to have this opportunity to invest in Naked Brand Group,” said Lars Windhorst, co-founder and CEO of Sapinda. “Since the merger with Bendon, Justin and his team have a unique opportunity to continue to take the business forward. We expect to bring synergies across Naked and La Perla in terms of business intelligence through greater digitalisation and shared knowledge across key product categories. We hope that our strategic investment, coupled with our expertise through La Perla, will help Naked to improve its global presence and enhance its position in the lingerie and swimwear industry,” concluded Windhorst.

The proposed transaction contemplates an equity investment by Sapinda (or its affiliates or designees) in Naked through a private placement of up to 5,000,000 newly issued ordinary shares of the company for a price per share of US$5.00. The company will not issue to Sapinda New Shares representing in excess of 19.99 per cent of the total issued ordinary shares of Naked. (SV)

Fibre2Fashion News Desk – India

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