Naked Brand Group Inc. (NAKD) |
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Naked Brand Group Inc's Comment on Competitors and Industry Peers
Men’s and women’s innerwear is a very competitive market with several
high profile undergarment manufacturers such as, Calvin Klein, Polo Ralph Lauren,
2(x)ist, Hugo Boss, Tommy John, Saxx Giorgio Armani, Tommy Hilfiger, Michael Kors,
DKNY, Natori, Free People, Hanky Panky, Commando, Cosabella, MeUndies, Bread&Boxers,
Frigo and others. We believe there are currently over 100 potential competitors
in our market sector for men’s and women’s undergarments, lounge and
sleepwear, and intimate apparel. The market includes increasing competition from
established companies who are expanding their production and marketing of undergarments,
as well as frequent new entrants. We are in direct competition with such companies.
Competition is principally on the basis of brand image and recognition, as well
as product quality, innovation, style, distribution and price. We believe that
we have the potential to perform well against competition as a result of the quality,
fit and performance of our products, our brand and brand strategy and positioning,
our planned marketing and consumer engagement initiatives, and through brand endorsement
and strategic collaboration agreements, such as our partnership with Wade. The
products we have introduced to market and the products we plan to introduce are
targeted at a premium consumer value point, which means retailing a high quality
product at a competitive price to comparable products, which we believe gives
us the opportunity to penetrate the market successfully.
We believe our competitive advantages include promoting that our products
are as comfortable as wearing nothing at all, which leverages our registered
brand name, and retailing high quality products at a competitive price with
superior fit, feel, function and look. We also believe our brand name and brand
mission and philosophy will be an important competitive differentiator as we
expand our marketing and brand awareness initiatives. However, many of our competitors
have significant competitive advantages, including longer operating histories,
larger and broader customer bases, more established relationships with a broader
set of suppliers, greater brand recognition and greater financial, research
and development, marketing, distribution and other resources than we do. Our
competitors may be able to achieve and maintain brand awareness and market share
more quickly and effectively than we can.
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