**Plby Group’s Strategic Move to Accelerate Core Brands and Further Monetize Playboy Assets**.
**New York, USA – February 21, 2023** – Plby Group, Inc. (PLBY), the global pleasure and leisure company that owns Playboy, the iconic media and lifestyle brand, today announced the completion of the sale of its Lovers business unit, a leading sexual wellness company, to MorForLess Holdings, Inc. for a purchase price of $13.5 million. This divestment aligns with Plby Group’s strategic focus on its core brands and businesses, including Playboy, and positions the company to further monetize its valuable Playboy assets..
**Transaction Highlights:**.
* **Accelerated Focus on Core Brands:** Plby Group’s decision to divest the Lovers business allows the company to concentrate its resources and investments on its core brands, including Playboy, which has a global reach and strong brand recognition. This strategic move is expected to enhance operational efficiency and drive growth in key markets..
* **Enhanced Monetization:** The sale of the Lovers business enables Plby Group to unlock the full potential of its Playboy assets. The proceeds from the transaction will support ongoing initiatives to expand the Playboy brand into new markets, develop new products and experiences, and explore additional licensing opportunities..
* **Focus on Diversification:** Plby Group remains committed to diversifying its business portfolio and exploring new opportunities that align with its strategic goals. The company will continue to seek partnerships and investments that complement its core brands and enhance its long-term growth prospects..
Ben Kohn, Chief Executive Officer of Plby Group, commented, .
