LOS ANGELES, Feb. 24, 2020 /PRNewswire/ -- Playboy Enterprises today announced a corporate repositioning to establish its parent company as PEI Holdings ("Company"). PEI Holdings will become an owner, incubator and investor in multiple global lifestyle brands focused on four consumer categories: Sexual Wellness, Apparel & Accessories, Home & Hospitality and Beauty & Skincare. In addition, the Company will build, buy and invest in product development, marketing and distribution infrastructure to accelerate the growth of its brands.
As part of its effort to expand its direct-to-consumer product sales capabilities, PEI Holdings also today announced the acquisition of Phoenix-based, online intimates retailer Yandy. Coupled with Playboy's long and successful history in the domestic and international licensed consumer products business, the acquisition of Yandy will significantly expand the Company's direct digital audience reach, its e-commerce capabilities and back-end infrastructure.
Yandy has a strong, established, profitable business and an experienced team that is responsible for fulfilling more than 50,000 monthly orders of intimates, sleepwear and accessories to a primarily female, US-based audience.
"Establishing a holding company allows us to take advantage of the tremendous power of the Playboy brand to serve as a platform to launch and nurture other brands," said Ben Kohn, CEO of PEI Holdings and CEO of Playboy Enterprises. "We're excited to partner with the talented Yandy team to continue delivering value to their dedicated consumers and to accelerate the growth of all of our businesses with new shared capabilities."
"We're very proud of Yandy's growth over the past 13 years and consider this partnership with PEI Holdings to be our crowning achievement and a testament to the hard work of all of our colleagues," said Aras Koktas and Jeff Watton, Co-CEOs of Yandy. "We're inspired by our sister company Playboy's Pleasure for All mission and eager to collaborate on growth opportunities across our businesses."
G2 Capital Advisors, LLC served as the exclusive financial advisor to Yandy Holdings, LLC in the sale process.
ABOUT PLAYBOY ENTERPRISES INC
Playboy, the cornerstone of PEI Holdings, today reaches a wide global audience through a diverse portfolio of consumer products, content, gaming and hospitality offerings. With 97% unaided global brand recognition and nearly 50 million social media fans worldwide, Playboy remains one of the most iconic brands in history. Under its mission of Pleasure for All, the 66-year-old Playboy brand drives more than $3 billion in annual sales at retail across 180 countries.
SOURCE Playboy Enterprises, Inc.