(Filed Under wholesale Lingerie News). Flynt Management Group (FMG), which operates the Hustler Hollywood stores, has agreed to purchase the Lovers retail stores and e-commerce business from Playboy “for approximately $13.5 million.”
In early 2021 Playboy had acquired the retailer, parts of which had traded under the Peekay name, for approximately $25 million. There are currently 40 Lovers stores located in California, Washington, Oregon, Tennessee and Texas along with a nationwide distribution center. FMG reported that “following completion of the acquisition, Lovers will continue to operate as a stand-alone, complementary brand alongside Hustler Hollywood, which currently operates a distribution center and 59 retail stores throughout the United States.” FMG stated the transaction is planned to close on or before December 3, 2023.
Hustler was founded by Larry Flynt in 1974, and according to FMG now “includes a range of adult-themed brands, companies and entertainment properties" overseen by his widow, Liz Flynt. “I simply could not be more excited about this transaction,” she stated. “Purchasing Lovers is the kind of move that my husband Larry liked to make – and I’m so glad that we’re both honoring his legacy and pushing our company forward for the future with this acquisition. The synergies and geographical disparities between Lovers and Hustler Hollywood will allow us to further expand in the sexual wellness retail space, which is a dynamic and rapidly growing segment of our industry.” — NM
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