Naked Brand Group Limited Launches New Diffusion Program Nationwide with Costco Wholesale Australia
Costco to Feature Bendon’s Best-Selling Women’s Comfortable Brief Product Line in 11 Locations Across Australia
SYDNEY, Australia, Aug. 09, 2018 (GLOBE NEWSWIRE) -- Naked Brand Group Limited (NASDAQ: NAKD), a global leader in intimate apparel and swimwear (the “Company” or “Naked”), has launched Bendon’s new mass-market diffusion program featuring Bendon’s best-selling women’s comfortable brief design with Costco Australia, a leading operator of membership warehouses across Australia.
The program integrates Bendon’s best-selling brief design and offers consumers a comfortable, value-oriented pack of five briefs at a retail price of AU$25.99. This product further expands on an identified growth category for Naked Brand Group - a premium product offering at a price point accessible to a wider audience.
By the end of November, Costco Australia is expected to stock the new test program at 11 Costco locations nationwide. Initial product shipments will be made throughout August, with follow-on orders already planned for September and October.
According to Allied Market Research, the global intimate wear market is expected to generate $250 billion by 2022. Globally, the apparel market size is expected to reach over $2 trillion by 2025. According to Statista, consumers are not only purchasing more (8 pieces of underwear per capita annually in 2017 compared to 6 per capita in 2010), but they are spending more as well, with the average price per unit increasing 11% since 2010.
“We are pleased to announce the launch of this new diffusion program with Costco Australia, a continuation of our goal to grow and partner with industry leading companies worldwide,” said Justin Davis-Rice, Chief Executive Officer of Naked Brand Group Limited. “Approximately 40% of our product sales are derived from basic item replenishment with wholesale partners such as Costco. Bendon’s sourcing and outlet store model molds well with the wholesale model and we look forward to a strong working relationship with Costco,” concluded Davis-Rice.
About Naked Brand Group Limited:
Naked Brand Group Limited (NASDAQ: NAKD) is a leading intimate apparel and swimwear company with a diverse portfolio of brands. The company designs, manufactures and markets a portfolio of 11 company-owned and licensed brands, catering to a broad cross-section of consumers and market segments. Brands include Naked, Bendon, Bendon Man, Davenport, Fayreform, Hickory, Lovable, Pleasure State, Heidi Klum Intimates, Heidi Klum Man, Heidi Klum Swim. Naked Brand Group Limited products are available in 44 countries worldwide through 6,000 retail doors, a growing network of E-commerce sites and 61 company-owned Bendon retail and outlet stores in Australia and New Zealand. Brands are distributed through premier department stores, specialty stores, independent boutiques and third-party e-commerce sites globally, including Macy’s, Nordstrom, Saks Fifth Avenue, Harrods, Selfridges, Amazon and asos among others. For more information please visit www.nakedbrands.com.
Naked Brand Group Limited
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This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as “may,” “believe,” “anticipate,” “could,” “should,” “intend,” “plan,” “will,” “aim(s),” “can,” “would,” “expect(s),” “estimate(s),” “project(s),” “forecast(s)”, “positioned,” “approximately,” “potential,” “goal,” “pro forma,” “strategy,” “outlook” and similar expressions. Examples of forward-looking statements include, among other things, statements regarding future financial performance, future growth in our business, trends in our industry, product innovation and operational expansion. All such forward-looking statements are based on management’s current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. Among the key factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are the following: unexpected delays in the roll-out of the program with Costco; failure to achieve expected results from the roll-out of the program; our ability to integrate the operations of Bendon Limited and Naked Brand Group Inc.; the risk that the projected value creation and efficiencies from the transaction with Bendon Limited and Naked Brand Group Inc. will not be realized; difficulties in maintaining customer, supplier, employee, operational and strategic relationships; the possibility that a robust market for our shares may not develop; our ability to raise additional financing; our ability to anticipate consumer preferences; and the other risks and uncertainties set forth under “Risk Factors” in our Annual Report on Form 20-F for the fiscal year ended January 31, 2018. Further, investors should keep in mind that our revenue and profits can fluctuate materially depending on many factors. Accordingly, our revenue and profits in any particular fiscal period may not be indicative of future results. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise, except as required by law.
Released August 9, 2018