PLBY Group, the owner of Playboy, one of the most iconic brands in the world, has acquired Australia-based Honey Birdette, a fast-growing, luxury lingerie and lifestyle brand. PLBY Group serves consumers in four major categories: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming. Honey Birdette sells carefully detailed lingerie and high-end toys for the bedroom.
Ben Kohn, Chief Executive Officer of PLBY Group, commented, “We are thrilled to officially welcome the Honey Birdette team to PLBY Group. This transaction will play a key role in the acceleration of our company’s expansion into new territories and product categories, specifically bolstering product design, sourcing and direct-to-consumer capabilities across our lingerie, loungewear, swimwear, sexual wellness and essentials collections. We see enormous organic growth prospects for both the Honey Birdette brand and the new Playboy-branded female focused lifestyle collections we will bring to market powered by Honey Birdette’s superior infrastructure.”
Eloise Monaghan, Founder and Managing Director of Honey Birdette, commented, “Today is a proud day for us as we officially join forces with one of the world’s most iconic brands and the lifestyle platform it represents. PLBY Group’s commitment to sexual wellness and female empowerment is everything that Honey Birdette embraces, and this partnership will help transform the company into one of the leading global lingerie and lifestyle platforms.”
The acquisition of 100% of the equity of Honey Birdette was completed for consideration of $235 million in cash and 2.16 million shares of PLBY Group stock. Honey Birdette generated $71 million of revenue and $17.6 million of net income for the twelve months ended June 30, 2021, representing growth of over 42% and 187%, respectively, over the prior year period.