Playboy Enterprises Inc., publisher of the namesake magazine, is looking toward overseas growth in Latin America, China and India, including new clubs in Brazil, its chief executive said.
Chief Executive Officer Scott Flanders, 53, spoke after the company said its fourth- quarter net loss shrank to $27.8 million, or 83 cents a share, including $28.6 million for expenses such as job cuts. A year earlier, Playboy posted a loss of $146.8 million, or $4.40 a share, including $157.2 million in impairment and other costs.
Earlier on Feb 19, Playboy said it signed an exclusive agreement in Asia with IMG Licensing Worldwide to expand licensing of apparel, accessories and other products.While Playboy isn’t in talks for similar agreements elsewhere, Flanders said he expects that the pact will “significantly increase” Playboy’s licensing business in Asia, eventually leading IMG to “broaden that relationship throughout the rest of the world.” The agreement will help the brand grow in India and China, Flanders said, where its clothing appeals to both men and women, in contrast to the U.S., where women are the primary customers.
Full report here Businessweek
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