UK lingerie and swimwear company Naked Brand Group is to receive a potential investment of US$25m from the owner of the La Perla brand in a move aimed at supporting future strategic acquisitions.
Naked has entered into a non-binding term sheet agreement with European investment firm Sapinda Holding for a 19.99% share of the business. If completed, it will provide Naked with unique operating synergies, investment capital that would support strategic acquisitions, as well as direct-to-consumer and e-commerce initiatives globally.
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“We are pleased to announce the term sheet for a proposed $25m 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,” says Justin Davis Rice, CEO of Naked Brand Group Limited. “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.”
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 La Perla Global Management (UK) Limited, the parent company of La Perla Group, a leading global luxury-fashion brand, rooted in lingerie. The brand employs 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 EUR140m (US$163m) 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 digitalization 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.”
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