Playboy parent Plby Group has sold US retailer Lovers.
Subsidiary Playboy Enterprises, Inc, has sold physical sexual wellness and lingerie retailer to LV Holding, LLC, Plby Group said Thursday. A sum of approximately $13.5 million (approximately €12.8 million) has been agreed for the sale, which is expected to be completed in the fourth quarter of 2023.
The group has thus taken the next step towards a more capital-friendly business model that focuses on the main Playboy brand. It was only announced in April that the Plby Group was separating from the lingerie retailer Yandy.