PLBY Group Announces Sale of Yandy

Rhea-AI Summary

PLBY Group has sold its subsidiary, Yandy Enterprises, LLC, for $3 million. This transaction is part of PLBY's strategy to adopt a capital light model, emphasizing its most valued brands, Playboy and Honey Birdette. The company aims to connect consumers with products and experiences that enhance their lives, leveraging its iconic Playboy brand, which drives significant global consumer spending across approximately 180 countries. This move reflects a shift to sharpen operational focus and enhance brand value.

Positive

• Sale of Yandy Enterprises for $3 million boosts cash flow.
• Shift to a capital light model may enhance operational efficiency.
• Focus on core brands, Playboy and Honey Birdette, can strengthen market positioning.

Negative

• None.

LOS ANGELES, April 05, 2023 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (the “Company” or “PLBY Group”), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, today announced that it has sold its Yandy Enterprises, LLC subsidiary for $3 million. The sale is a part of the PLBY Group’s transition to a capital light model that will focus on the Company’s most valuable brands, Playboy and Honey Birdette.

About PLBY Group, Inc.
PLBY Group, Inc. is a global pleasure and leisure company connecting consumers with products, content, and experiences that help them lead more fulfilling lives. PLBY Group’s flagship consumer brand, Playboy, is one of the most recognizable brands in the world, driving billions of dollars in global consumer spending with products and content available in approximately 180 countries. PLBY Group’s mission — to create a culture where all people can pursue pleasure — builds upon almost seven decades of creating groundbreaking media and hospitality experiences and fighting for cultural progress rooted in the core values of equality, freedom of expression and the idea that pleasure is a fundamental human right.

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

FAQ

What subsidiary did PLBY Group sell?

PLBY Group sold its subsidiary, Yandy Enterprises, LLC.

How much did PLBY Group sell Yandy Enterprises for?

The sale of Yandy Enterprises was for $3 million.

What is PLBY Group's capital light model?

PLBY Group's capital light model focuses on reducing operational costs while concentrating on its most valuable brands.

Which brands is PLBY Group focusing on?

PLBY Group is focusing on its core brands, Playboy and Honey Birdette.

How many countries does Playboy operate in?

Playboy operates in approximately 180 countries worldwide.