Plby Group, the owner of Playboy, has sold its Lovers e-commerce business to LFUSA, a subsidiary of the Li & Fung Group, for $13.5 million. The sale includes the Lovers website, Lovers social media accounts, and the Lovers brand name..
The Lovers business was launched in 2017 as a curated online marketplace for lingerie, swimwear, and other intimate apparel. It quickly gained popularity, thanks in part to its association with the Playboy brand. However, the business has struggled in recent years, due to competition from other online retailers and the challenges of the COVID-19 pandemic..
Plby Group CEO Ben Kohn said in a statement that the sale of the Lovers business is part of the company’s strategy to focus on its core Playboy brand. .
