PLBY Group acquires Australian luxurious lingerie model Honey Birdette


PLBY Group, the American pleasure and leisure way of life firm and proprietor of Playboy, has entered right into a definitive settlement to accumulate 100 per cent of the fairness of Australian luxurious lingerie model Honey Birdette for a purchase order worth of roughly $333 million in money and inventory. The transaction is predicted to shut within the third quarter of 2021.

The feminine-founded lingerie model has considerably grown its client attain and operations to North America and Europe. The acquisition will broaden PLBY Group’s model portfolio with a brand new high-end franchise, and can present the Group with the product design, sourcing and direct-to-consumer capabilities to speed up the expansion of its attire companies, the businesses mentioned in a joint press launch.

Honey Birdette expects roughly $73 million of income and roughly $28 million of EBITDA for the twelve months ending June 30, 2021, representing development of over 40 per cent and over 95 per cent, respectively, over the prior yr interval. The acquisition will assist the corporate’s give attention to increasing its management within the sexual wellness class and improve its shared sourcing and product design capabilities.

“We’re extraordinarily excited to welcome Honey Birdette to PLBY Group,” mentioned Ben Kohn, chief govt officer of PLBY Group. “This acquisition is predicted to additional our mission to turn into the main pleasure and leisure way of life platform and our dedication to ship long-term worth to our shareholders.”

“Right now is a momentous and proud day for the Honey Birdette crew as we enter into partnership with one of many world’s most iconic manufacturers and the approach to life platform it represents. I’m thrilled to affix Ben and the entire PLBY Group crew on a mission to construct a life-style of enjoyment for all,” mentioned Eloise Monaghan, founder and managing director of Honey Birdette.

Constructing upon its present digital commerce and brick-and-mortar retail platform, Honey Birdette is targeted on increasing its retail footprint throughout the US, UK and Europe. Within the US, new flagship shops will open within the coming months in Dallas, Miami and New York. Along with frequently launched lingerie collections that includes unique designs and embroidery, the high-end model is quickly releasing new loungewear, swimwear and necessities collections.

Fibre2Fashion Information Desk (KD)

PLBY Group, the American pleasure and leisure way of life firm and proprietor of Playboy, has entered right into a definitive settlement to accumulate 100 per cent of the fairness of Australian luxurious lingerie model Honey Birdette for a purchase order worth of roughly $333 million in money and inventory. The transaction is predicted to shut within the third quarter of 2021.

Source link