PLBY Group, Inc. announced its Playboy Enterprises division has sold off its Lovers business for US $ 13.5 million to LV Holding, as the US lingerie giant looks to focus on its hero Playboy brand.

Playboy Enterprises will sell all of the stock in its subsidiary, TLA Acquisition Corp., which owns the Lovers company, at the closure of the sale. Following the fulfilment of usual closing conditions, the sale of Lovers is anticipated to close in the fourth quarter of 2023.

With 40 storefronts spread across five US states, Lovers is a physical and online retailer for sexual wellness items that include lingerie.

The company’s newest move towards a ‘more capital-light business model’ that is concentrated on its Playboy brand and Australian brand Honey Birdette is the sale of the company.

PLBY Group reported in April that Yandy, a lingerie and costume business, has been sold for US $ 3 million. The Los Angeles-based business claimed at the time of the sale that the transaction was a part of a new plan to streamline operations and concentrate on its two most lucrative brands, Playboy and Honey Birdette.