PLBY Group, Inc. has announced its acquisition of the luxury lingerie brand Honey Birdette for approximately $333 million, aiming to enhance its brand portfolio and expand its market presence in the sexual wellness sector.

Information on the Target

Honey Birdette is a luxury lingerie and lifestyle brand founded in 2006 in Australia. Emphasizing female empowerment, the brand has rapidly expanded its market presence to North America and Europe, establishing a strong retail footprint with 60 stores across three countries. Honey Birdette's commitment to quality and design has garnered an impressive consumer base, allowing the brand to thrive and evolve in the competitive lingerie industry.

The company's growth trajectory has been remarkable, with projections indicating approximately $73 million in revenue and $28 million in EBITDA for the twelve months ending June 30, 2021. This translates to a growth rate exceeding 40% in revenue and over 95% in EBITDA from the previous year. The brand not only caters to the luxury market but also aims to uplift women through its offerings, positioning itself as a symbol of confidence and empowerment.

Industry Overview in Australia

The lingerie industry in Australia has experienced a significant evolution, with a growing emphasis on luxury segments that prioritize quality and design. An increasing number of consumers are gravitating towards brands that offer not o