The move by the Playboy brand will amalgamate with an acquisition company to cater to a broad range of lifestyle and pleasure needs such as sexual wellness and even sports betting.
Playboy CEO, Ben Kohn, said that their aim was to deal in all things that make people ‘look and feel good’. The new venture is to replace the companies’ magazine publishing which stopped production at the beginning of 2020.
Playboy will partner up with Mountain Acquisition Corp with the final deal with $415 million delivered at the beginning of 2021. The new company plan to acquire new ways of attracting the younger generation and expanding into a more mainstream and contemporary brand that appeals to 40-year-olds, who account for 85% of their audience. In particular, female interest has grown by 70%, so bedroom products for women will be a feature, as well as information and advice .
With the sexual wellness industry worth $250billion, helping people have better sex lives is certainly a lucrative business to be in. Casinos and online sports betting have also been closely aligned with Playboy and could be incorporated in the new company offerings.