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Naked Brand may receive US$25mln investment from La Perla owner

European investment firm Sapinda Holdings B.V. may invest US$25mln in the Australian apparel company

Intimate apparel on hangers
The intimate apparel company’s brand portfolio includes Heidi Klum Intimates and Heidi Klum Swim

Naked Brand Group Ltd (NASDAQ:NAKD) announced a potential multi-million dollar investment from the owner of luxury lingerie brand La Perla.

The intimate apparel and swimwear brand entered a non-binding term sheet to receive a US$25mln investment from European investment firm Sapinda Holdings B.V.

“If completed, this investment will provide us with additional capital to support our plans to complete accretive strategic acquisitions to better utilize our under-leveraged operating infrastructure,” said CEO Justin Rice in the company's press release.

The agreement would include a maximum 19.99% strategic investment from Sapinda through a private placement of up to 5 million newly issued ordinary shares priced at US$5 per share.

READ: Naked Brand in expansion mode with a planned two-year roll-out of 20 retail and outlet stores

The company said that it would use the investment capital for strategic acquisitions as well as direct-to-consumer and e-commerce initiatives.

The company’s brand portfolio includes Naked, Bendon, Heidi Klum Intimates and Heidi Klum Swim.

Naked Brand announced in mid-August that it had begun its two-year rollout strategy to open 20 retail and outlet stores across Australia and New Zealand.

Shares of the Australian company were down more than 4% to US$4.42 in Tuesday Morning trading.

Quick facts: Naked Brand Group

Price: 0.5 USD

NASDAQ:NAKD
Market: NASDAQ
Market Cap: $2.11 m
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