The parent company of the US sex toy chain Hustler Hollywood, Flynt Management Group (FMG), is acquiring the stores as well as the Lovers brand name from the previous owner Playboy Enterprises. The acquisition includes 40 Lovers locations in 5 states as well as the nationwide distribution center for the brand and its activities.
For FMG, which currently operates 59 Hustler Hollywood stores, the purchase of the smaller competitor represents a considerable growth. With one fell swoop, the company is increasing its retail space by over 60 percent. According to FMG chairwoman Liz Flynt, Lovers will continue to operate as an independent brand alongside Hustler Hollywood after the deal is completed.
In a statement, Larry Flynt’s legendary founder’s widow Liz Flynt said: »The synergies and geographical disparities between Lovers and Hustler Hollywood will allow us to further expand in the sexual wellness retail space, which is a dynamic and rapidly growing segment of our industry. We’re thrilled to welcome the Lovers chain and its employees into the Flynt Management Group following closing, and we can’t wait to get to work.«
In addition to the significant expansion of the retail space, the gain in purchasing power for FMG must also have been a decisive factor in the decision to acquire Lovers.
For Playboy Enterprises, the deal once again allows a focus on other business areas. After Hugh Hefner’s death, the company was restructured several times and withdrew from various business areas. Lovers had only recently launched a retail strategy, which has apparently now been abandoned.
Liz Flynt, on the other hand, hinted that acquiring a chain from the Playboy empire would have been very much in the spirit of her late husband Larry Flynt: »Purchasing Lovers is the kind of move that my husband Larry liked to make – and I’m so glad that we’re both honoring his legacy and pushing our company forward for the future with this acquisition.«
With the planned completion of the acquisition by December 3, FMG is thus putting itself on an expansion course. For more information click here.