Business

Local businessman gets millions from investors

Joel Primus of Abbotsford is shown during one of his previous appearances on Dragons
Joel Primus of Abbotsford is shown during one of his previous appearances on Dragons' Den.
— image credit: CBC TV file photo

Abbotsford entrepreneur Joel Primus has raised more than $6 million for his growing underwear company.

Naked Brand Group, the company Primus founded just four years ago,  announced last week that it had raised $6,159,482 from investors. The company also appointed experienced fashion designer Carole Hochman as its new chief executive officer. Hochman, called the industry's "longtime doyenne" by Women's Wear Daily, will be joined by a new chief operating officer and a new vice president of sales, while Primus retains his title as Naked president.

“I am thrilled to announce this addition of enormous talent and experience to our team,” Primus said in a press release. “Carole’s unparalleled skill, wisdom and guidance will be paramount to the future growth and expansion of the Naked brand and I am honored to work alongside her. Michael and Carlos bring tremendous additional knowledge and expertise to our company. We now have a powerhouse team that brings great promise for the future of Naked.”

Primus has appeared three times on Dragons Den, turning down four of the dragons in 2012 after they offered to buy half the company for a quarter-million dollars.

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