Playboy, Inc.

Playboy, Inc. is a U.S.-based consumer lifestyle and brand licensing company built around the Playboy name and related intellectual property. Its business combines licensing of branded consumer products and digital assets with direct-to-consumer sales through Honey Birdette stores and online channels, plus magazine, content, and entertainment-related activities.

−4,1 %

71,0 %

−10,5 %

+4,1 %

1.03

0.82

— Playboy, Inc.
%
Brand licensing55% Licenses the Playboy trademark and related IP for third-party consumer products and experiences.
Direct-to-consumer retail30% Sells Honey Birdette products through e-commerce and company-operated stores.
Digital content and subscriptions10% Includes licensed digital subscriptions, content, and online entertainment rights.
Corporate and brand activities5% Includes Playboy magazine, events, sponsorships, and brand marketing activities.

Playboy sells primarily to consumer-facing licensees, retail shoppers, and digital content users...

  • Consumer products licenseesprimary

    Third-party manufacturers and brand operators license Playboy IP for apparel, accessories, and related products.

  • Honey Birdette retail customersprimary

    Consumers purchasing lingerie and intimate apparel through Honey Birdette stores and online.

  • Digital subscribers and content userssecondary

    Users accessing Playboy digital subscriptions, content, and online entertainment offerings through licensees.

  • Hospitality and entertainment partnerssecondary

    Operators that pay for Playboy branding in hospitality, location-based entertainment, and gaming.

  • Magazine and event audiencesemerging

    Readers and attendees who engage with Playboy magazine, events, and sponsorships that reinforce the brand.

Playboy operates globally, with licensing activity spanning multiple territories and Honey Birdette stores in three...

  • •United States is a key market for Honey Birdette retail sales
  • •Australia remains part of the Honey Birdette store footprint
  • •China is a material licensing market for Playboy-branded products
  • •Manufacturing exposure includes sourcing from China for Honey Birdette
  • •Global licensing spans apparel, accessories, hospitality, and gaming

Playboy is steering toward a more capital-light model centered on licensing and brand monetization rather than owned...

01
Grow licensing through strategic partnersmedium-term

Licensing is more capital-light and can scale across categories and geographies.

02
Strengthen Honey Birdette U.S. performanceshort-term

The company sees stronger store economics and customer spending in the U.S.

03
Maintain brand visibility through media and eventsshort-term

Brand marketing supports licensing demand and partner interest.

The business is exposed to trade policy, tariffs, and cross-border sourcing risk because Honey Birdette products are...

high

Tariffs and trade policy changes

Honey Birdette sources manufacturing in China and sells into markets affected by import duties.

Scope
China sourcing and U.S./global sales
Materiality
high
high

Dependence on brand partners and licensees

A large part of revenue comes from third parties using Playboy IP, so partner execution matters.

Scope
Licensing portfolio
Materiality
high
medium

International and currency exposure

The company operates across multiple countries and earns revenue in different markets and currencies.

Scope
United States, China, Australia, and other territories
Materiality
medium
medium

Consumer demand and pricing sensitivity

Retail sales depend on discretionary spending and customer willingness to pay premium prices.

Scope
Honey Birdette
Materiality
medium
Revenue recognition for licensing and digital rights
Affects reported revenue timing and comparability across periods
Seasonality in consumer product sales
Affects quarterly revenue and margin comparability
Fair value and contingent liabilities
Can create non-cash gains or losses in earnings
Impairment of intangible assets and brand-related assets
Could materially affect asset values and operating results

Progyny, Inc.

PGNY · Services-Misc Health & Allied Services, NEC

Wilhelmina International, Inc.

WHLM · Services-Management Consulting Services

Evofem Biosciences, Inc.

EVFM · Pharmaceutical Preparations

ESTABLISHMENT LABS HOLDINGS INC.

ESTA · Orthopedic, Prosthetic & Surgical Appliances & Supplies

A.K.A. BRANDS HOLDING CORP.

AKA · Retail-Catalog & Mail-Order Houses

Adapti, Inc.

ADTI · Services-Amusement & Recreation Services

: 29.4.2026