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| Playboy plans India expansion |
| Press Trust Of India / Chicago Aug 06, 2009, 00:56 IST |
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Playboy Enterprises, publisher of the eponymous adult magazine, says it is bullish on expanding its presence in India and is working to launch its range of apparel, footwear and accessories in Indian market by end of the year.
The city-based company, that had launched fragrances for men in India earlier this year, has signed agreements under which its Indian partners would manufacture and sell its range of products in the market.
"In signing these kinds of deals, we look for partners who have experience in manufacturing, know the retail and distribution markets, and perhaps most importantly share our passion for the brand." Alex Vaickus, company's executive vice president and president for global licensing said here in a press conference. "... Our partners in India are gearing up quickly and they should have the product in the market by the end of the year," he added.
As the adult entertainment company chalks out its growth plans, it said its priority would be to "expand into new territories like India".
"Beyond being one of the most populous countries in the world, India has a growing consumer economy and a large per cent of its population comprises our target audience of young adults, which makes it a particularly attractive market for us," Vaickus said.
The company, known for its adult magazine for men 'Playboy', made its foray in the Indian market in April this year when it launched its range of perfume for men — Hollywood playboy, Malibu playboy, Miami playboy and Vegas playboy.
The perfumes would be sold in India through distribution house JL Morison (India) that entered into an agreement with New York-headquartered manufacturer of fragrances Coty.
Playboy reported a net loss of $8.7 million for the second quarter ended June 30, 2009, as against a net loss of $3.2 million a year ago, mainly due to slump in the sale of its print and television adult entertainment.
Second-quarter revenues also declined to $62.2 million from $73.4 million in April-June 2008.
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