Thursday, May 19

Playboy ventures into the female lingerie market with an investment of more than $ 300 million

Honey Birdette currently has stores in Australia, the United States and the United Kingdom.

Photo: Joe Scarnici / Getty Images

Play Boy, the brand made famous by Hugh Marston Hefner and now managed by its CEO, Ben Kohn, is buying from an Australian luxury lingerie retailer for $ 333 million.

With this acquisition, which is one of the most recognized brands in adult entertainment, continues its growth and to take advantage of the brand positioning of the rabbit with a label bow, it will expand its market to the commercialization of women’s underwear.

According to information from Fox Business, Honey Birdette, the lingerie brand that PLBY Group Inc. is acquiring, has around 60 physical stores located mainly in Australia, and others in the United States and the United Kingdom.

The Australian company is dedicated to the sale of lingerie and sex toys and expects revenue of more than $ 73 million for the fiscal year ending this month, representing growth of more than 40%.

The Honey Birdette stores in Australia have attracted public attention for their provocative marketing, based on video ads in shopping malls with models wearing their sexy garments.

One of Playboy’s goals with the new acquisition is to use its market positioning as a leisure and leisure lifestyle brand to accelerate Honey Birdette’s expansion in different markets through physical and online stores.

According to people familiar with the acquisition, in the coming months New retail stores will open in Dallas, Miami and New York.

The purchase of Honey Birdette represents direct competition in the lingerie retail industry for stores such as Victoria’s Secret, a well-positioned brand in this field.

In March 2020, Playboy stopped publishing its print magazine in the United States, which had struggled with profitability for years and growing competition from digital media.

In the last ten years the company has focused on being profitable through licensing agreements, placing your recognized brand and distinctive logo on clothing lines, nightclubs, casinos, fragrances and today in lingerie clothes.

Playboy went public last year after a company acquired it in a deal that valued the brand at $ 415 million. Playboy had been made private in 2011 by its founder Hugh Hefner, who passed away in 2017.

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