Honey Birdette has reported a decent lift in sales in the first quarter for 2026, with its parent company pointing to stronger full price sales growth in the United States over Australia.
The lingerie brand’s total sales for the quarter rose 15 per cent, with its gross margin down by around 100 basis points on the first quarter of FY25. Playboy’s DTC channel, believed to solely encompass Honey Birdette, hit US$18.8 million (~A$26 million) in the first quarter, up by US$2.5 million.
The lift in DTC added to a total sales lift for Playboy overall for the first quarter, up by 5 per cent to US$30.2 million. This is down by over US$4 million from the fourth quarter.
The overall sales growth was offset by a slip in licensing revenue at Playboy, down by US$500,000 to US$10.9 million.
Despite mixed sales results across Playboy’s categories, the US-based company has reported improving bottom-line fundamentals, with operating expenses down by 9 per cent to US$31.9 million, and its net loss more than halved to just negative US$4 million.
Playboy’s adjusted earnings before interest, tax, depreciation and amortisation doubled to US$5 million.
Playboy CEO Ben Kohn said the company delivered a strong start to 2026, buoyed by a US$122 million deal with United Trademark Group to help drive growth in its China business. That deal, according to Kohn, allowed Playboy to pay down US$15 million of senior debt, with almost US$37 million of additional UTG proceeds earmarked for debt reduction.
“We enter the remainder of 2026 with significant momentum,” Kohn said. “Our licensing foundation remains highly predictable, anchored by contractual guarantees and almost US$333 million in unrecognized future licensing revenue.
“Honey Birdette is growing while maintaining margins, and our content engine is driving audience growth through Playboy magazine and related programming.”