top shadow

To receive more info from Naked Brand Group about a particular product, Click on the photo (photo will enlarge).

Added: Aug 2015

Added: Aug 2015

Added: Aug 2015

Added: Aug 2015

Added: Aug 2015

current news

Naked To Exit Lingerie, Join With Car Firm

(Filed Under wholesale Lingerie News). Naked Brand Group plans to join with a Hong Kong electric car company and exit the lingerie business.

It announced Monday that it has signed a definitive agreement under which it will acquire stock in three private entities which make up Cenntro Automotive Group (CAG), and take on that company’s name once the deal is completed. “The company expects to retain its Nasdaq listing and ticker symbol NAKD.”

Under the terms of the deal, “Naked “intends to divest its FOH Online business,” which is comprised of the licensed Frederick’s of Hollywood lingerie business.

Naked explained that Cenntro, a company which was founded in 2013, “has produced and delivered over 3,300 commercial electric vehicles, more commercial electric vehicles than any other EV manufacturer,” and that it hopes to achieve “2022 revenue of $506 million on sales of 21,500 vehicles and 2023 sales of 74,800 vehicles.”

“Under the agreement, Naked will issue shareholders of CAG a number of shares so that, upon the completion of the transaction, which is expected to occur prior to year-end, Cenntro shareholders will own approximately 70% of the combined entity on a fully-diluted basis.”

It added that “upon closing of the transaction, the majority of the Board will be appointed by Cenntro. Naked Brand Group chairman and chief executive officer Justin Davis-Rice and non-executive director Simon Tripp will remain on the board of the combined company.” — NM

more wholesale Lingerie News >>

Published 11-09-2021 by Nick Monjo

Related Articles

Naked Now A Car Firm, Exits FOH Lingerie
Naked Shareholders Approve EV Acquisition
Naked To Exit Lingerie, Join With Car Firm
Naked’s CEO Again Mentioned Possible Deal
Naked Stock Up After It Teased New M&A Deal
Naked Reports Bigger Loss On Lower Sales
Naked: ‘$270 Million In Cash And No Debt’
Naked: $46.9 Million In GameStop-Style Surge
Naked: Big Sales Drop, While Losses Continue
Naked Sells Naked Brand, Exits Heidi Klum

Comment on this article, brand or product

Disclaimer: The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of Bodymagazine or its staff.

NOTE: Your Email will not be displayed.

Follow BODY on:
twitter FaceBook RSS
Share this article on:
Digg Reddit Stumble

Contact Information: (718)676-4444
Copyright © 2022 Fashion Market Magazine Group, Inc. All rights reserved.
All photos Copyright © 2000-2022 Nick Monjo & Fashion Market Magazine Group. All rights reserved.
Please email any website related issues to
bottom shadow