PLBY Group Announces Sale of Lovers Business, Focusing on Playboy Brand

PLBY Group, a leading pleasure and leisure lifestyle company and owner of the iconic Playboy brand, has recently announced the sale of its Lovers business. The wholly-owned subsidiary, Playboy Enterprises, Inc., has entered into a definitive agreement with LV Holding, LLC, an unaffiliated third party, for a purchase price of approximately $13.5 million.

Lovers, an online and brick-and-mortar sexual wellness retailer with 40 stores across five states, will be sold through the sale of TLA Acquisition Corp., a subsidiary of Playboy Enterprises, Inc. The transaction is expected to close in the fourth quarter of 2023, subject to customary closing conditions.

This strategic move aligns with PLBY Group’s vision of transitioning towards a more capital-light business model that focuses on their flagship brand, Playboy. By divesting the Lovers business, PLBY Group aims to streamline operations and concentrate resources on further enhancing the Playboy brand’s global presence.

PLBY Group’s mission is to create a culture where all people can pursue pleasure, rooted in the core values of equality, freedom of expression, and the belief that pleasure is a fundamental human right. With products and content available in approximately 180 countries, Playboy remains one of the most recognizable brands worldwide.

The sale of Lovers represents another successful step for PLBY Group in optimizing their business strategy. By leveraging the strength and recognition of the Playboy brand, PLBY Group continues to connect consumers with products, content, and experiences that enrich their lives.

For more information about PLBY Group, please visit their website at http://www.plbygroup.com.

Contact:
Investors: investors@plbygroup.com
Media: press@plbygroup.com