(Filed Under wholesale Lingerie News). It’s been a wild ride for shareholder of Naked Brand Group, the company that is now controlled by sleepwear expert Carole Hochman, the company’s new largest shareholder and CEO. Shares of the publicly traded firm (traded on the OTC market under the name NAKD) were selling for 12 cents at the end of May, just before Hochman officially joined the firm in early June, and soared almost 300% to close at 35 cents on August 11th.
At the close of August 12th shares were down to 29 cents. Along the way, on July 30th, Hochman penned here first letter to shareholders, an enthusiastic document that showed how excited and committed she and her family are to making the new venture a success. The letter itself may have figured in the rise in the price of the shares.
“Like you, I was immediately captivated by the power and potential of the brand name: the word “Naked” reinterpreted and represented as a label for intimate apparel and beyond,” wrote Hochman. “I was enthralled and saw an enormous opportunity to build the concept of Naked into a global lifestyle brand that speaks to the modern individual’s desire to be free, real, comfortable, sexy, active, unencumbered, confident.”
“For over 30 years,” Hochman continued, “I have designed and brought to market some of the world’s most admired sleepwear and intimate apparel for my own brand and many leading brands including Polo Ralph Lauren, Donna Karan, Oscar De La Renta, Betsey Johnson and many more. Over the course of my career, I have learned that strong brand direction combined with exceptional product, talented people, strong customer relationships and focused execution are a potent formula for building a thriving, profitable business. It is with these principles that we guided our family-owned Carole Hochman Design Group to become a widely respected leader in the intimate apparel industry. It is with these same principles that my team and I intend to guide Naked toward its amazing future.”
“The Naked team is deep with talent and experience and already hard at work at turning our vision into reality. Joining Joel Primus [the company founder] and I on the senior management team is Carlos Serra, vice president of sales & merchandising and Michael Flanagan, COO and CFO. Together, Carlos and Michael bring nearly 50 years of men’s apparel experience. Carlos has had great success in this business, helping lead the launch of Emporio Armani men’s underwear while serving as vice president of sales for Armani, as well as playing a key role in the growth of Polo Ralph Lauren’s men’s underwear business as a director of sales for Hanes Brands. Carlos has hit the ground running, immediately engaging an expanded audience of retailers for our brand by driving the creation of a broader and more competitive men’s collection. Michael Flanagan, who has had a distinguished career including his time as vice president of finance and operations of Brooks Brothers, is actively at work establishing financial and operating systems that can serve as a foundation for growth for years to come. We are also building the design and technical capabilities of our team and, over the next several months, we will be consolidating our talent in our new corporate headquarters in New York City. I am thrilled to announce that Joel Primus will be relocating with his family to continue his vital work as president and founder of Naked.”
“We are also surrounding our extraordinary core team with an equally talented group of directors, consultants and advisors that are committed to help Naked grow and succeed. I am particularly proud that my own two children are playing vital, active roles in Naked. My son David Hochman, a seasoned venture capitalist and financier with over 18 years of experience in building start-up companies, played a central role in the financing and restructuring of Naked. He has joined our board of directors and continuing to play of a dynamic role in our business planning and growth strategy. My daughter, Sara Allard, who spent 16 years as the creative director for Carole Hochman Design Group, is spearheading our marketing and brand strategy work through her firm Case Study Brands. Sara and her partner, Nicole Enslein, a veteran of brand builder J. Walter Thompson, are assembling a world class team of digital and social media experts that will help us cost-efficiently build broad awareness for our compelling brand name. In the months ahead, expect to hear more about this expanding group of value-added contributors to Naked’s future success.”
“My team and I are passionate about growing Naked from a men’s underwear brand into a global lifestyle brand. We are committed to launching women’s sleepwear, lounge wear and intimate apparel within the course of the next year. We have also initiated the expansion of our men’s offerings, which, in the future, will also include swim and active wear. When the time is right, we intend to move beyond these core categories to realize the full amazing potential of the Naked brand.”
“With the power of the brand name, the early success of our exceptional men’s innerwear collection, and, now, the financial and human capital necessary to realize our potential, I believe Naked is poised to achieve great success. I have committed myself along with my family and Naked’s exceptional management team to making that success a reality. I want to thank all of you who have invested in our company and chosen to join us on what we believe will be an exciting and rewarding journey in the years ahead.”
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