Playboy is no longer a naughty magazine to be hidden under the mattress; it’s a brand that’s going public.
The lifestyle company, which grew to prominence showcasing risqué photos of women in its now defunct magazine, has taken the first steps to be listed on the Nasdaq stock exchange.
Playboy will merge with Mountain Crest Acquisition in a US$415 million deal that will ultimately see the company go public on the Nasdaq, after a decade of being off the stock market.
It describes itself as “one of the largest and most recognisable lifestyle brands in the world,” and sells a variety of items ranging from sexual wellness products, branded clothes and even a home goods line.
Chief executive officer, Ben Kohn, in a statement said “Playboy today is a highly profitable commerce business with a total addressable market projected in the trillions of dollars.”