Naked Brand Group postpones Sapinda investment

Naked Brand Group Limited has decided to postpone its previously announced proposed 25 million dollars strategic investment from European investment firm Sapinda Holding B.V. due to current market conditions. Sapinda is also owner of the Italian luxury-lingerie firm La Perla.

“Unfortunately, the recent stock market volatility has compromised our ability to maximize our proposed investment relative to substantial dilution based upon Naked’s current share price,” said Lars Windhorst, Co-Founder and CEO of Sapinda in a statement, adding, “We hope to re-evaluate the proposed transaction once market conditions stabilize and look forward to building a long-term partnership with Naked in the future.”

“We remain committed to our e-commerce initiatives and look forward to working with Sapinda in the future. While we can’t control market conditions, we always keep the interests of our shareholders paramount and expect to provide a comprehensive update on our soon to be announced shareholder update call in November,” added Justin Davis-Rice, Chief Executive Officer of Naked Brand Group Limited.

Picture:Facebook/Heidi Klum Intimates