Welcome to our dedicated page for Plby Group news (Ticker: PLBY), a resource for investors and traders seeking the latest updates and insights on Plby Group stock.
PLBY Group, Inc. (symbol: PLBY) is a globally recognized company that connects consumers with a diverse range of products, services, and experiences designed to enhance their lifestyle. Operating in four main categories—Style and Apparel, Digital Entertainment and Lifestyle, Sexual Wellness, and Beauty and Grooming—PLBY Group leverages its iconic brand to drive revenue across multiple segments.
PLBY Group's business model is structured into three key segments: Direct-to-Consumer, Licensing, and Digital Subscriptions and Content. The company's Direct-to-Consumer segment offers products directly to customers via online platforms and retail stores, focusing on high-quality apparel and personal care items. The Licensing segment involves partnerships with other brands to extend the reach and visibility of PLBY’s diverse product lines globally. Additionally, the Digital Subscriptions and Content segment provides exclusive content and lifestyle experiences, catering to a broad spectrum of consumer interests.
In recent news, PLBY Group has made significant strides, ending the third quarter with approximately $22.0 million in restricted and unrestricted cash. This financial stability has allowed the company to focus on executing key goals and shifting towards initiatives aimed at driving profitable growth. CEO Ben Kohn has highlighted improved performance and strategic moves, such as the revitalization of the Playboy brand in China through a major joint venture, showcasing the company's commitment to reinvigorating its global presence.
PLBY Group remains dedicated to helping consumers look good, feel good, and have fun. With ongoing projects and strategic partnerships, the company continues to innovate and adapt to the evolving market trends, ensuring sustained growth and customer satisfaction. For more information or media inquiries, contact press@plbygroup.com.
Playboy has partnered with music superstar Cardi B, who will serve as the brand's first Creative Director In Residence. Cardi will lead artistic direction for co-branded fashion and sexual wellness products and will be a key figure in launching the new creator-led platform, CENTERFOLD. This platform aims to provide creators a safe space for self-expression and commerce. The collaboration is expected to enhance Playboy's direct-to-consumer ventures and expand its global presence in fashion and wellness. CENTERFOLD is scheduled to launch in December 2021.
PLBY Group, known for its iconic Playboy brand, has partnered with Código 1530 to launch the Rare Hare Double Barrel Añejo tequila. This ultra-premium tequila, aged over two years in French Oak Napa Valley Cabernet wine barrels and Spanish Sherry-Fino casks, promises a refined taste with aromas of spicy pepper and dried fruits. Limited to 1,530 individually numbered bottles, each retails for $899. The collaboration emphasizes luxury and craftsmanship, aligning with Playboy's lifestyle narrative.
PLBY Group reported a 67% year-over-year revenue growth for Q3 2021, totaling $58.4 million. This increase was driven by a 139% surge in direct-to-consumer revenue at $36.0 million and a 14% rise in licensing revenue to $16.9 million. Despite COVID-related impacts leading to over $5 million in lost revenue, the company achieved an Adjusted EBITDA of $5.2 million. However, it reported a net loss of $7.7 million, primarily due to $9.8 million in non-recurring expenses related to the acquisition of Honey Birdette.
PLBY Group, Inc. (Nasdaq: PLBY), a leading lifestyle company, will release its third-quarter 2021 financial results on November 15, 2021, post-market. A conference call to discuss these results will be accessible via a live webcast at 5:00 p.m. ET. PLBY Group, which owns the iconic Playboy brand, operates in key areas including Sexual Wellness and Beauty & Grooming, generating substantial global consumer spending across 180 countries.
PLBY Group has launched Playboy Rabbitars, an innovative collection of 11,953 NFTs, inspired by the brand's iconic heritage. Created by the Web3 Innovation team in collaboration with Possible Studios and WENEW, each Rabbitar features unique traits and serves as access keys to exclusive Playboy Club events and merchandise. The NFTs will be available for purchase starting October 24, 2021, priced at 0.1953 Ethereum. Playboy continues to invest in blockchain technology, aiming to enhance community engagement and offer meaningful ownership experiences.
PLBY Group has announced a definitive agreement to acquire Dream, a social content platform, for up to $30 million, primarily in stock. This acquisition will accelerate the launch of CENTERFOLD, a new creator-led service set to debut in Q4 2021. The platform aims to enhance interactions between creators and their fans while expanding commerce opportunities. This move aligns with Playboy's legacy of supporting creative expression and sex positivity. The transaction is expected to close in the fourth quarter of this year.
PLBY Group, Inc. (Nasdaq: PLBY) announced an expansion into India through a partnership with Jay Jay Capital and Investments. The collaboration aims to introduce Playboy hospitality experiences in major cities, starting with a flagship venue, a Playboy beer garden, in Gurgaon by December 2021, followed by a location in Bangalore in February 2022. This initiative targets young Indian consumers seeking elevated and unique experiences, building on Playboy's legacy of premium hospitality offerings worldwide.
PLBY Group reported a 44% year-over-year revenue growth for Q2 2021, totaling $49.9 million. The growth was driven primarily by an 88% increase in direct-to-consumer revenue to $28.0 million and a 12% rise in licensing revenue to $15.4 million. However, the company faced a net loss of $8.9 million, mainly due to $7.9 million in non-recurring expenses linked to the acquisition of Honey Birdette and debt refinancing. The adjusted EBITDA stood at $5.9 million, reflecting ongoing investments in technology and public company expenses.
PLBY Group has successfully completed the acquisition of Honey Birdette, a luxury lingerie brand, for $235 million in cash and 2.16 million shares of PLBY stock. The deal enhances PLBY's direct-to-consumer capabilities, expanding into new territories and product categories. Honey Birdette reported impressive growth, with $71 million in revenue and $17.6 million in net income for the year ending June 30, 2021. Both companies anticipate significant synergy and market potential, focusing on female empowerment and sexual wellness.
PLBY Group, a leader in the pleasure and leisure lifestyle industry and owner of the iconic Playboy brand, announced its participation in the 41st Annual Canaccord Genuity Growth Conference. The event will feature a fireside chat with CEO Ben Kohn and CFO Lance Barton on August 11, 2021, at 8:30 AM ET, moderated by Canaccord Genuity's Austin Moldow. Investors can access the live webcast on the PLBY Group Investor Relations site, with a replay available for one year.
PLBY Group operates in Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming.
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