PLBY Group acquires Australian luxury lingerie brand Honey Birdette

The female-founded lingerie brand has significantly grown its consumer reach and operations to North America and Europe. The acquisition will expand PLBY Group’s brand portfolio with a new high-end franchise, and will provide the Group with the product design, sourcing and direct-to-consumer capabilities to accelerate the growth of its apparel businesses, the companies said in a joint press release.

Honey Birdette expects approximately $73 million of revenue and approximately $28 million of EBITDA for the twelve months ending June 30, 2021, representing growth of over 40 per cent and over 95 per cent, respectively, over the prior year period. The acquisition will support the company’s focus on expanding its leadership in the sexual wellness category and enhance its shared sourcing and product design capabilities.

“We are extremely excited to welcome Honey Birdette to PLBY Group,” said Ben Kohn, chief executive officer of PLBY Group. “This acquisition is expected to further our mission to become the leading pleasure and leisure lifestyle platform and our commitment to deliver long-term value to our shareholders.”

“Today is a momentous and proud day for the Honey Birdette team as we enter into partnership with one of the world’s most iconic brands and the lifestyle platform it represents. I’m thrilled to join Ben and the whole PLBY Group team on a mission to build a lifestyle of pleasure for all,” said Eloise Monaghan, founder and managing director of Honey Birdette.

Building upon its existing digital commerce and brick-and-mortar retail platform, Honey Birdette is focused on expanding its retail footprint across the US, UK and Europe. In the US, new flagship stores will open in the coming months in Dallas, Miami and New York. In addition to regularly released lingerie collections featuring exclusive designs and embroidery, the high-end brand is soon releasing new loungewear, swimwear and essentials collections.

Fibre2Fashion News Desk (KD)