PLBY Group Enters into New Playboy Shop Licensing Agreement
07 Agosto 2024 - 6:00AM
PLBY Group, Inc. (NASDAQ: PLBY) (“PLBY Group” or the “Company”), a
leading pleasure and leisure lifestyle company and owner of
Playboy, announced that it has entered into a 7-year licensing
agreement with Sunny Cusco, an innovative company rooted in
authentic fashion and merchandising, for the exclusive rights to
develop and sell apparel and certain other licensed products on the
shop.playboy.com website. Pursuant to the agreement, Sunny Cusco is
required to make an upfront payment of $1.25 million on signature,
as well as an additional $6.3 million in minimum guarantees and
excess royalties to be paid above the minimums.
Through this new partnership, Playboy will
expand its social media and commerce strategy working hand in hand
with creators and influencers to activate unique opportunities with
products and collections featuring the iconic Playboy brand. As
Playboy’s creator and influencer partners share content and product
discovery with their fans, Playboy will be able to reach and
monetize new audiences across the rapidly growing social commerce
segment.
“Our creator community is an essential part of
our business, and we are excited to have found a likeminded partner
in Sunny Cusco,” said Ben Kohn, Chief Executive Officer of PLBY
Group. “Sunny shares our vision to expand the Playboy Shop beyond
its web presence, leveraging prominent social commerce platforms
such as TikTok Shop and Instagram Shop to reach new consumers in a
more interactive and entertaining way. By offering this capability
to our Playboy Club creator community, we will become a more
comprehensive partner to creators in expanding and diversifying
their revenues in seamless ways that other creator platforms
currently do not.”
A fully redesigned shop.playboy.com website is
expected to launch in October showcasing new and elevated
products.
About PLBY Group, Inc.PLBY
Group, Inc. is a global pleasure and leisure company connecting
consumers with products, content, and experiences that help them
lead more fulfilling lives. PLBY Group’s flagship consumer brand,
Playboy, is one of the most recognizable brands in the world,
driving billions of dollars in global consumer spending, with
products and content available in approximately 180 countries. PLBY
Group’s mission—to create a culture where all people can pursue
pleasure—builds upon over 70 years of creating groundbreaking media
and hospitality experiences and fighting for cultural progress
rooted in the core values of equality, freedom of expression and
the idea that pleasure is a fundamental human right. Learn more at
http://www.plbygroup.com.
Forward-Looking StatementsThis
press release includes “forward-looking statements” within the
meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. The Company’s
actual results may differ from their expectations, estimates, and
projections and, consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as “expect,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,”
“believes,” “predicts,” “potential,” “continue,” and similar
expressions (or the negative versions of such words or expressions)
are intended to identify such forward-looking statements. These
forward-looking statements include, without limitation, the
Company’s expectations with respect to future performance, growth
plans and anticipated financial impacts of its strategic
opportunities and corporate transactions.
These forward-looking statements involve
significant risks and uncertainties that could cause the actual
results to differ materially from those discussed in the
forward-looking statements. Factors that may cause such differences
include, but are not limited to: (1) the inability to maintain the
listing of the Company’s shares of common stock on Nasdaq; (2) the
risk that the Company’s completed or proposed transactions disrupt
the Company’s current plans and/or operations, including the risk
that the Company does not complete any such proposed transactions
or achieve the expected benefits from any transactions; (3) the
ability to recognize the anticipated benefits of corporate
transactions, commercial collaborations, commercialization of
digital assets, cost reduction initiatives and proposed
transactions, which may be affected by, among other things,
competition, the ability of the Company to grow and manage growth
profitably, and the Company’s ability to retain its key employees;
(4) costs related to being a public company, corporate
transactions, commercial collaborations and proposed transactions;
(5) changes in applicable laws or regulations; (6) the possibility
that the Company may be adversely affected by global hostilities,
supply chain delays, inflation, interest rates, foreign currency
exchange rates or other economic, business, and/or competitive
factors; (7) risks relating to the uncertainty of the projected
financial information of the Company, including changes in the
Company’s estimates of cash flows and the fair value of certain of
its intangible assets, including goodwill; (8) risks related to the
organic and inorganic growth of the Company’s businesses, and the
timing of expected business milestones; (9) changing demand or
shopping patterns for the Company’s products and services; (10)
failure of licensees, suppliers or other third-parties to fulfill
their obligations to the Company; (11) the Company’s ability to
comply with the terms of its indebtedness and other obligations;
(12) changes in financing markets or the inability of the Company
to obtain financing on attractive terms; and (13) other risks and
uncertainties indicated from time to time in the Company’s annual
report on Form 10-K, including those under “Risk Factors” therein,
and in the Company’s other filings with the Securities and Exchange
Commission. The Company cautions that the foregoing list of factors
is not exclusive, and readers should not place undue reliance upon
any forward-looking statements, which speak only as of the date
which they were made. The Company does not undertake any obligation
to update or revise any forward-looking statements to reflect any
change in its expectations or any change in events, conditions, or
circumstances on which any such statement is based.
Contact:Investors:FNK IRMatt Chesler,
CFA646-809-2183investors@plbygroup.com or plby@fnkir.com
Media: press@plbygroup.com
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