PLBY Group Announces Strategic Hires and Restructures to Scale for Growth
LOS ANGELES, Jan. 11, 2022 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ:PLBY) (the "Company"), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, today announced the appointment of Ashley Kechter as President of Global Consumer Goods, Megan Jordan as Chief Communications Officer of the Company, and Julie Hastings as Honey Birdette's Chief Executive Officer (CEO).
"As we continue to evolve our business, and scale for growth in the approximately 180 markets where our products are sold, it is critical that we have a leadership team with strategic vision, global expertise, and experience driving rapid growth," said Ben Kohn, PLBY Group's CEO. "These new leaders will complement our over-80% female workforce, expand our proven executive team, and drive revenue and positioning globally."
Ashley Kechter joins the Company on Jan. 17th and will report to Kohn. She will oversee all consumer products, including licensing and merchandise for the full portfolio of brands including the Playboy flagship brand, Yandy, Lovers and Honey Birdette.
"Ashley's track record for product growth and merchandising combined with her brand building expertise at a global scale will help us accelerate our direct-to-consumer transition and expansion strategy, and we are thrilled to welcome her to PLBY Group's executive team," said Kohn. "Ashley not only affords us the opportunity to streamline our structure and allows me and other key executives to focus on our digital plans, including building CENTERFOLD, but also brings a wealth of experience from RH as we look forward to launching our own version of membership in the future."
Kechter comes to PLBY Group from The Gap Inc., where she most recently was in charge of Banana Republic's Global Factory Business. Kechter previously drove rapid growth for RH as its Chief Merchandising Officer and Chief Inventory Officer where she oversaw multiple launches of new revenue and product lines and supported a successful IPO, with revenue growth from $0.8 billion to $2.5 billion during her tenure.
"I am excited to join PLBY Group and drive meaningful growth across all of its brands, including focusing on the future of Playboy, and what it represents in terms of the values and social practices so critical in today's climate," said Kechter. "The Playboy brand is so much bigger than anyone realizes, and to have the opportunity to tell that story, to shift thinking, and to massively grow this business is an incredible opportunity I couldn't pass up."
Reporting to Kechter are the brand leaders, including Julie Hastings, the new CEO of PLBY's Group's fast-growing, luxury lingerie and lifestyle brand Honey Birdette. Based in Australia, Hastings is focused on leveraging PLBY Group and the Playboy brand's global operations to accelerate Honey Birdette's expansion into new territories and product categories. Hastings served as Honey Birdette's Chief Operating Officer since October 2021. She has deep expertise in the intimate apparel retail space, having served as the General Manager of Global Retail Operations for Bras N Things, where she successfully led the company through its acquisition by Hanes Brands.
To further support the Company's global strategic plans, Megan Jordan has joined PLBY Group as Chief Communications Officer reporting to Kohn. Her focus is on guiding the Company's reputation and positioning as it continues to transform its culture, mission and business to achieve its full brand potential in this new era. Jordan brings decades of experience building corporate reputations and leading communications for large, public companies including Herbalife Nutrition and Southern California Edison.
For more information, visit http://www.plbygroup.com.
About PLBY Group, Inc.
PLBY Group, Inc. ("PLBY Group" or the "Company") connects consumers around the world with products, services, and experiences to help them look good, feel good, and have fun. PLBY Group serves consumers in four major categories: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming. PLBY Group's flagship consumer brand, Playboy, is one of the most recognizable, iconic brands in the world, driving billions of dollars in global consumer spend annually across approximately 180 countries. Learn more at http://www.plbygroup.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. The Company's actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company's expectations with respect to future performance, growth plans and anticipated financial impacts of the Company's acquisitions and commercial collaborations.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Factors that may cause such differences include, but are not limited to: (1) the impact of COVID-19 pandemic on the Company's business or acquired businesses; (2) the inability to maintain the listing of the Company's shares of common stock on Nasdaq; (3) the risk that acquisitions or any proposed transactions disrupt the Company's current plans and/or operations, including the risk that the Company does not complete any such proposed transactions or achieve the expected benefits from them; (4) the ability to recognize the anticipated benefits of acquisitions, commercial collaborations and proposed transactions which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, and retain key employees; (5) costs related to being a public company, acquisitions, commercial collaborations and proposed transactions; (6) changes in applicable laws or regulations; (7) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (8) risks relating to the uncertainty of the projected financial information of the Company; (9) risks related to the organic and inorganic growth of the Company's business and the timing of expected business milestones; and (10) other risks and uncertainties indicated from time to time in the Company's annual report on Form 10-K, including those under "Risk Factors" therein, and in the Company's other filings with the Securities and Exchange Commission. The Company cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date which they were made. The Company does not undertake any obligation to update or revise any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
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