By Colin Kellaher
PLBY Group said it has decided to keep its Honey Birdette business, citing meaningful improvement at the lingerie business and a bolstered balance sheet after last year's long-term license agreement with Byborg Enterprises.
PLBY, which bought Honey Birdette for $333 million in 2021 and last year said it planned to shed the Australian lingerie brand, on Thursday said it expects improved operational metrics and future growth prospects to significantly increase the value of the business.
The Los Angeles-based owner of the Playboy brand said its transition to an asset-light model is well underway, adding that it expects to generate revenue of about $120 million in 2025 and to be cash-flow positive for the year.
PLBY shares were recently up 6.1% to $1.73 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 16, 2025 08:26 ET (13:26 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。