Naked Brand Group Limited
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.
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