(Filed Under wholesale Lingerie News). Playboy announced today that it has sold its Yandy Enterprises, LLC subsidiary for $3 million. They did not name the buyer in the release.
Playboy acquired Yandy for $13.1 million on December 31, 2019. The deal included “substantially all of the assets and liabilities, excluding outstanding borrowings.” For the year ended December 31, 2019, Yandy recorded a net loss of $19.8 million on sales of $43.1 million, and in 2018 a net loss of $951,351 on sales of $42.4 million.
Late last month Playboy announced it was “very close to selling” Yandy, and reported that Yandy annual sales in 2022 had fallen to $33.1 million from $57.9 million the year before.
The company noted that “the sale is a part of the PLBY Group’s transition to a capital light model that will focus on the company’s most valuable brands, Playboy and Honey Birdette.” — NM
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