The acquisition of a popular Australian brand will allow PLBY Group to expand its scope of activities without going beyond the established image.
PLBY Group, the owner of the famous brand Playboy, announced one of the most important steps in its development in recent years - the acquisition of the Australian retailer Honey Birdette. The deal is valued at $333 million, and PLBY Group's shares rose by 2% after the announcement was made.
Known for its revealing lingerie, Honey Birdette operates dozens of stores in Australia and also has outlets in the UK and the US. In addition to lingerie, the brand's stores also sell sex toys, and marketing materials often attract attention with provocative ideas and images of an erotic nature, which makes Honey Birdette an ideal choice for Playboy. The company forecasts revenue growth for the fiscal year ending in June by more than 40%, in monetary terms this figure will exceed $73 million.
After the transaction, it is planned to open new stores in the US, in particular in Dallas, Miami and New York. This will be implemented in the coming months. The brand is planned to be developed in different markets, expanding its significance and recognition among customers. The brand will also actively develop its online presence.
For PLBY Group, the acquisition of the lingerie brand will be an important step in securing its position in the market as a lifestyle brand associated with pleasure and luxury for customers. After discontinuation of its famous (even legendary) magazine - last published in the spring of 2020 - the company is actively looking for ways to develop, in addition to directly licensing its famous logo with a rabbit silhouette.