Playboy Expands Partnership With IMG to Include Europe
CHICAGO, Nov. 9, 2010 /PRNewswire/ -- Playboy Enterprises, Inc. (PEI) (NYSE: PLA, PLAA) today announced that it has signed IMG Licensing Worldwide (IMG) as its exclusive agent in Europe. The agreement covers most Playboy product categories and expands IMG's geographic responsibilities for licensing the Playboy brand.
"PEI's successful collaboration with IMG in Asia made extending the partnership to include Europe an attractive opportunity to grow our revenue base and accelerate our transition to a brand management company. IMG's extensive network of agents in Europe can help increase Playboy's consumer reach as well as the visibility and power of the Playboy brand," said Adrianna Chinnici, PEI's senior vice president, global licensing.
"IMG's 50-year experience and established infrastructure in the European market will allow us to build on Playboy's success throughout the region, as we have been doing already in Asia, and to continue to significantly expand its licensing business," said Bruno Maglione, IMG executive vice president and global managing director IMG Licensing Worldwide.
While the agreement with IMG will cover a wide range of men's and women's apparel, accessories and other product categories, PEI said that its pan-global and entertainment venue licenses as well as the company's media businesses will be exempt from this arrangement. In addition to developing new business prospects, IMG will oversee the financial and legal administrative processes related to Playboy's European licensing agreements and will monitor compliance. The contract gives Playboy final approval on all licenses.
About Playboy Enterprises, Inc.
Playboy is one of the most recognized and popular consumer brands in the world. Playboy Enterprises, Inc. is a media and lifestyle company that markets the brand through a wide range of media properties and licensing initiatives. The company publishes Playboy magazine in the United States and abroad and creates content for distribution via television networks, websites, mobile platforms and radio. Through licensing agreements, the Playboy brand appears on a wide range of consumer products in more than 150 countries as well as retail stores and entertainment venues.
About IMG Sports & Entertainment
IMG Licensing is the premier independent licensing agency in the world. Since 1962, IMG Licensing has been one of the core business units of IMG and with nearly 50 years of experience IMG Licensing offers an unparalleled resource in the licensing of sporting brands. IMG Licensing also offers expertise in a number of different markets and services outside of sports, including corporate trademarks, brands, entertainment, fashion and celebrity properties. In April 2009, IMG Licensing was voted the No. 1 Licensing Agent in the annual Top 20 List in License Magazine.
SOURCE Playboy Enterprises, Inc.