Get half Naked for $75,000! This was the price Joel Primus had convinced one of the Dragon’s Den panel members in 2009 to cough up for half of his Naked Brand Group, Inc. (OTC: NAKD) if the rest of the panel would match the number. Their decline led to the luxurious and environmentally conscious underwear manufacturer to list NAKD stock on the OTC in pursuit of uplisting to the Nasdaq in 2013. Considering that Friday’s volume surpassed the amount Primus asked for 4 years ago and is near the level needed to move ahead, traders not following the story line got caught with their pants down for a cheap entry.
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NAKD Stock Quote
Market Cap: 30.09M
Last: 1.07 ▲ 0.20 (22.99%)
Dollar Volume: $169,466
Issued and Outstanding: 28,122,000
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Back in September, 2009, Joel Primus, Founder of Naked Boxer Brief™ went onto the reality TV Show, Dragon’s Den, looking to win over the panel and strike a deal to help launch his underwear brand. After not being able to sway the panel to invest in his idea, Primus hooked up with WestJet co-founder, Tim Morgan, to help with the necessary financing as well as Bruce Turner, Host of Style by Jury, who became a Spokesperson, Model and Advisor to the Company.
Today, Naked Brand Group sells its products in roughly 100 stores that are part of regional and national chains such as Holt Renfrew, Top Drawer and Boys’ Co. The Company recently launched an Los Angeles office to be able to cater to selling their product line in Nordstrom department stores within the U.S.
Sales reported on the last 10-Q filing for the Company were $59,254 and $151,502, respectively, for the three and nine months ended October 31, 2012, more than double the same three month period from a year ago and nearly double the same nine month period from a year ago. More interestingly is to see the inventory numbers which have increased from $68,840 as of January 31, 2012 to $449,378 as of October 31, 2012, $285,957 of which were finished goods ready for shipping.
In an interview with Business Vancouver back in May, 2012, Naked Brand Group’s president stated that he planned to take the company public within the month via a reverse takeover with a shell company on the loosely regulated OTCBB exchange. (Accomplished) Primus continued by stating that “His goal is to be on the junior Nasdaq exchange sometime in 2013.”
In what can be considered to fall somewhere between Frederick’s of Hollywood Group Inc. (FOH) and American Apparel, Inc. (APP), NAKD stock got the exposure needed after being featured on ABC’s “The View” one day prior to Valentine’s Day. Primus stated that “the profile-raising publicity is a major indicator that the brand is on its way to becoming a house-hold name with a combined viewership of over 7 million seeing our product.”
After Friday, penny stock traders are now aware of NAKD stock. Now lets see if Nasdaq or NYSE Amex is where they land by year’s end.
About NAKD Stock
Naked Brand Group Inc. is a manufacturer and seller of direct and wholesale undergarments in Canada and the U.S. to consumers and retailers. Every Naked piece is made with soft-to-the-touch Italian fabric that seamlessly forms to your body, making you feel as though you’re wearing nothing at all.
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Bottom Line: The fact that NAKD, for the most part, began trading Friday led some to think it could be a promoted penny stock in the coming days/weeks. After looking into the underwear maker a bit deeper, those chances are slim to none in our opinion which makes viewing NAKD stock long much more attractive.
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