Playboy is Chasing Bunny Money
Playboy Enterprises are expanding their global licensing business. Moreover, they will publish their first double issue for July/August of this year. This is part of their strategy in reversing their first-quarter loss and increasing their income compared to last year.
The bunny brand can be seen in more products as Playboy plans to expand their global licensing business.
According to Playboy Enterprises’ chief executive and interim chairman, Jerome Kern, they want to expand the company’s $40.4 million business last year and take the bunny more mainstream. Earlier this week, unfortunately, the company posted a $13.7 million first-quarter loss.
As a result, Playboy magazine will soon publish its first double issue (July/August) later this year. There will be a reduction of issue frequency and there will be two Playmates in every issue. This is just one part of the strategy used by this 56-year-old flagship publication to reverse their decline.
Aside from the 16% year-to-year decline in its first quarter revenue, the company also expects a 39% decrease in its print ad revenue in the second quarter when compared to the same period in 2008.
Kern said “I don’t want this magazine in intensive care. I envision the magazine that’s out in the public and stands out for the brand. However, it should not eat us alive. That’s what we’re figuring out.”
Alex Vaickus is the one overseeing Playboy’s global licensing. He talked about the resort venues, Cody’s men’s fragrances, Playboy energy drink, accessories, jewelry, and apparel branding of the company. He said “our goal is to create distribution deals and products that can work across wide varieties of domestic and international retailers ranging from mass market retailers to hip department stores.”
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