- Prachi Singh
-
|
Naked Brand Group has appointed Anna Johnson, former EGM of the
company’s wholly owned subsidiary, Bendon Limited, as the company’s new
CEO, following the completion of its recent strategic financing and debt
re-structuring. The company said that Justin Davis-Rice has stepped down
from his role as CEO and has been named Executive Chairman of Naked.
“Anna, who has been successfully implementing our strategic plan within
Bendon for the past five months, has a proven track record of restructuring
and transforming established businesses in the consumer sector and we
believe her role as CEO of Naked will amplify our new strategic
direction,” said former CEO Davis-Rice in a statement.
Naked appoints Anna Johnson as new CEO
The company added that Johnson brings to Naked over 25 years’ experience
driving growth across a number of industries including consumer
electronics, outdoor adventure and intimate apparel. Prior to re-joining
Bendon, Johnson was EGM of operations with The Warehouse Group, where she
oversaw $1 billion of revenue and a 93-store footprint. From 2012 to 2017,
Johnson spearheaded the retail channel at Bendon as EGM, delivering
sequential 30 percent returns from multiple women’s categories. Prior to
Bendon, Johnson was the GM for the New Zealand territory and franchisee
with Harvey Norman, one of Australia’s largest list retailers.
“We have an exceptionally talented team at Naked that is focused on
taking decisive actions to transform the business, continuing to innovate
our product in new and diverse ways, and unlocking future growth
opportunities,” added Johnson.
Naked undertakes strategic review of the business
After a global strategic review, the company further said, Naked has
effectuated a plan that is on track to realize an aggregate of 6.5 million
dollars in cost savings. Naked has exited unprofitable channels in the UK,
EU and select Australian and New Zealand independent channels. However, the
company said, as brand strength in the UK and EU remains strong, Naked will
continue to service key accounts such as Selfridges, as well as the Outnet,
stores.
The Naked brand will complete its full integration into the group of
brands by May 2019. This integration accounted for 1.5 million dollars of
the annualized cost savings and includes the shut down of the Wearnaked.com
site in the US. The Naked brand will continue to be developed under the
house of brands of Bendon with the strategic growth earmarked to be in US
mass merchants and New Zealand markets. The company has also downsized and
optimized global offices in Sydney, Hong Kong and the US as a part of the
review.
Picture:Facebook/Bendon Lingerie
