AcadeMedia Q3 Profit Climbs as International and Adult Education Segments Drive Growth 
China Car Sales Drop Again as EV Export Growth Surges in April 
Broadcom Eyes $35 Billion AI Chip Financing Deal With Apollo and Blackstone 
Indian Stock Market Drops as Iran Conflict Fuels Oil Price and Inflation Fears 
JD Sports Backs Nike CEO Elliott Hill Amid Brand Turnaround Efforts 
South Korea Central Bank Signals Inflation Concerns as Oil Prices Surge 
Morgan Stanley Bets on Optical Component Stocks in Greater China Tech Sector 
Japan’s Yen Intervention and BOJ Rate Hike Bets Support Currency Recovery 
Wall Street Hits Record High as AI Chip Stocks and Strong U.S. Jobs Data Boost Markets 
TikTok Nears $400 Million Settlement With Trump Administration Over Child Privacy Lawsuit 
AWS Data Center Overheating Disrupts Cloud Services in Northern Virginia 
AI-Driven Inflation Raises U.S. Consumer Prices, Goldman Sachs Says 
China Inflation Jumps as Iran Conflict Drives Energy Costs Higher 
Russian LNG Shadow Fleet Expands Amid Arctic LNG 2 Sanctions 
Dollar Rises as Strait of Hormuz Crisis Pushes Oil Prices Higher 
Playboy’s owner is said to be buying Honey Birdette, a lingerie retailer in Australia. It is a luxury lingerie brand that garnered attention due to its overly provocative marketing strategy, and now the Playboy brand will own it for $330 million.
The acquisition arrangement
As per Fox Business, the owner of Playboy, an American men's lifestyle and entertainment magazine, is trying to expand his business. It would like to go beyond the licensing deals for its world-renowned bunny-ear logo, and acquiring Honey Birdette could be a step toward its goal.
Honey Birdette is said to own at least 60 brick-and-mortar stores around Australia, and it also has few outlets in the United States and the United Kingdom. It was said that the luxury lingerie company is expecting more than $73 million in revenue for the fiscal year ending this month which is equivalent to 40% growth of the business.
With that said, it is obvious that Playboy will also gain a lot from the purchase. The company is said to be planning to use its brand’s reputation to expand and market Honey Birdette in both online and offline stores.
Business expansion and new stores
According to an insider who has knowledge about the dealings, Playboy will be opening new retail stores of Honey Birdette in New York, Miami, and Dallas. The aim is to open the stores in the coming months and accelerate the lingerie brand's reputation.
It was added that apart from racy lingeries, Honey Birdette also sells sex toys, so the company goes well with Playboy and its image. Perhaps, Playboy will also use its own models in the future ads for Honey Birdette. The brand may also become Victoria's Secret’s competitor in the process.
The Wall Street Journal also mentioned that Playboy will also focus on marketing and selling Honey Birdette products online. Although it will be opening more stores, online selling will also be given priority since it is the norm right now due to the pandemic. Meanwhile, Playboy’s acquisition marks the company’s shift from pure licensing deals to operating its own business lines.
