PLBY Group sells Yandy, refocuses on 'most valuable brands'

Pleasure and leisure lifestyle company PLBY Group has announced the sale of its lingerie and costume retail subsidiary Yandy Enterprises in a three million dollar deal.

The decision to offload the retailer comes as the group shifts towards a capital light model, through which it is refocusing on its “most valuable brands”, Playboy and Honey Birdette.

PLBY Group initially acquired Yandy for an undisclosed sum in December 2019, setting out on a mission of driving the Phoenix-based brand’s next phase of growth and expanding its audience reach.

Over the last two years, however, PLBY has undergone a significant shift in its own strategy, outlining plans to expand its lifestyle brand to merchandise, apparel and lingerie, which has seen it launch its own lingerie brand and open up physical retail outlets.

On the back of its Playboy Lingerie drop, the group’s president of global consumer products, Ashley Kechter, also noted that denim, flannel and sleepwear categories would be following at a later date.

Most recently, PLBY announced the appointment of Marc Crossman as its new CFO and COO, tasking the exec with leading the company’s profitable growth initiatives and aiding the streamlining of its operations.