High-end lingerie brand Honey Birdette is set to be acquired by the PLBY Group, a move that will see the brand become part of PLBY’s portfolio. The acquisition comes with a price tag of $333 million and is expected to support the expansion of Honey Birdette and its ambitious growth plans.

Honey Birdette, founded 15 years ago, currently operates physical stores in Australia, the UK, US, and Europe, as well as international webstores. The acquisition by PLBY will allow the company to expand its portfolio and make use of Honey Birdette’s product design, sourcing, and direct-to-consumer capabilities to accelerate the growth of its core apparel and sexual wellness businesses.

PLBY’s CEO, Ben Kohn, believes that Honey Birdette has the potential to become a multi-billion-dollar luxury lifestyle franchise. By leveraging PLBY Group’s global operations and the Playboy brand, the company aims to support Honey Birdette’s expansion into new territories and product categories. This includes plans to launch Playboy-branded lingerie, loungewear, swimwear, and sexual wellness products targeting the ‘masstige’ consumer.

Financially, Honey Birdette generated approximately $73 million in revenue with an EBITDA of around $28 million in the last financial year. Eloise Monaghan, the founder and MD of Honey Birdette, expressed her pride in the brand’s accomplishments and its mission to empower women. She sees the partnership with PLBY as an opportunity to align with one of the world’s most iconic brands.

While Australia currently hosts Honey Birdette’s largest store chain, the brand is focused on expanding its retail footprint in the US, UK, and Europe. In the coming months, flagship stores will open in Dallas, Miami, and New York. Additionally, the brand plans to introduce new product categories such as loungewear, swimwear, and essentials collections.

Although specific details were not disclosed, it is uncertain whether Eloise Monaghan will continue to be involved in the brand’s development after the acquisition. However, there is no indication of her departing from the company.

In conclusion, PLBY’s acquisition of Honey Birdette presents an exciting opportunity for both companies. With PLBY’s resources and global reach, combined with Honey Birdette’s established presence and strong product offerings, the partnership has the potential to drive significant growth and solidify both brands’ positions in the luxury lingerie market.

Helpful links:
Honey Birdette Official Website
PLBY Group Official Website