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PLBY Group sells Lovers for $13.5 million

"Pleasure and lifestyle company PLBY Group has announced that it has entered into a definitive agreement to sell its sexual wellness retailer Lovers for a purchase price of around 13.5 million dollars."

The Fashion Enthusiast
PLBY Group sells Lovers for $13.5 million

PLBY Group

The subsidiary has been purchased by LV Holding, an unaffiliated third party, with the sale expected to conclude in the fourth quarter of 2023, subject to customary closing conditions.

Lovers has 40 outlets across five US states and operates both online and in-store.

The decision comes as PLBY continues its repositioning strategy, which was launched two years ago with the intention of expanding its lifestyle brand to include products, apparel, and lingerie.

A big contributor to this transformation was the company's intention to transition to a capital-light model in order to center on its "most valuable brands."

In such a move, the business sold its underwear brand Yandy in April this year for three million dollars, having initially acquired the label for an undisclosed sum in 2019.

In March, the company announced the appointment of Marc Crossman as its new CFO and COO, tasked with managing the company's profitable growth objectives and assisting with operational simplification.


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Emma Rose

Editor Total Stories: 102

Emma Rose is a California-based writer who is covering fashion, beauty, celebrity, and models. She is currently the Junior Editor at The Fashion Enthusiast

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