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Playboy goes public again, but Wall Street is unimpressed — Quartz


February 12, 2021
A decade after founder Hugh Hefner took Playboy from public to private again, the company returned to the stock market yesterday.
It was not the most auspicious restart. Shares dropped 2.7%.
Wall Street is evidently not impressed as Playboy tries to write a future very different from its past as the publisher of an iconic men’s magazine. The company is in the midst of a pivot away from some of the pillars its business has relied on, such as media and licensing deals in China, and toward more consumer products, from clothes to home goods to condoms.
Facing tons of online competition in its legacy business of peddling nude images, Playboy instead has focused on launching its own e-commerce channels and acquiring established retailers. Last year, it grabbed up online lingerie retailer Yandy as it restructured its operations. This year it bought the parent company of sexual-wellness chain Lovers, which has 41 stores spread across five US states. ....

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Playboy agrees to buy sexual wellness chain Lovers


3 Min Read
(Reuters) - Playboy Enterprises Inc, the lifestyle brand that is in the process of going public and known for its eponymous magazine, said on Monday it has agreed to acquire the parent company of sexual wellness chain Lovers.
The acquisition is the latest step by Playboy to shift away from its legacy media business following the shuttering of its magazine last year, and towards leveraging its famous rabbit silhouette logo to help build a consumer products brand.
The deal values Lovers-parent company TLA Acquisition Corp at around $25 million. Playboy said it expects Lover to add roughly $45 million in revenue over the next twelve months. ....

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