Naked Brand Group Ltd. (NAKD) stock plunged by 6.83% at the last trading close whereas the NAKD stock price rises by 4.17% in the pre-market trading session. With a diverse portfolio of brands, NAKD is a major intimate apparel and swimwear company. NAKD creates, produces, and distributes a portfolio of eight company-owned and approved products that appeal to a diverse range of customers and market segments.
What is happening?
Naked Brand Group confirmed the appointment of Mark Ziirsen as Chief Financial Officer on April 19, 2021, succeeding Cheryl Durose. Ziirsen has worked in financial and managerial leadership positions in a variety of sectors, including banking and telecommunications, for over three decades. He’ll be in charge of implementing Naked Brands’ new online strategy.
Justin Davis-Rice, the CEO of Naked Brand Group said that Mark has spent most of his career advising high-growing businesses, and would be critical for the exponential growth of NAKD’s e-commerce market and digital transformation. Naked Brands’ quest for “acquisitions of fast growth and cash flow generating companies” will be supported by Ziirsen’s strategic management and mergers and acquisitions experience. Davis-remarks Rice’s mean that Naked Brands will use some of the $270 million it earned in recent months from share offers shortly.
On Reddit and other social media platforms, Naked Brands has become a common stock among traders. As a result, the stock price soared from less than $0.20 on December 31 to $3.40 on January 28. NAKD’s cash-rich balance sheet could provide it with the funds it requires to expand its e-commerce platform. With the addition of Ziirsen, consumers tend to be growing more confident in Naked Brands’ online approach.