Sexual wellness retailers combine to form global Lovehoney Group
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Online retailer Lovehoney is merging with WOW Tech Group to form a global sexual wellness group: The Lovehoney Group.
The group will operate across EMEA, APAC and North America, and will combine a strong portfolio of brands, such as Fifty Shades of Grey, Happy Rabbit, Womanizer, We-Vibe, and Arcwave, as well as Swiss retailer Amorana, which was purchased by Lovehoney last year.
The merger and expansion comes after the sexual wellbeing market exploded during global lockdowns, with the sector poised to grow at a CAGR of 8 percent from 2021 to 2028.
Johannes Plettenberg, WOW Group founder and Lovehoney Group CEO, said the sector is fast becoming mainstream, “supported by liberalization, acceptance of sexual awareness, and the influence of popular culture.”
“Amorana, Lovehoney, and WOW Tech share the same mission to destigmatize sexuality, empower people to enjoy a fulfilling love life, and experience sexual happiness,” Plettenberg said.
“Combined, Lovehoney Group will provide a specialist e-commerce platform with unmatched international reach, with the creator of the most well-known and innovative brands in the industry.”
Questions & Answers
Q.What is the new name of the combined retail group?
What is the new name of the combined retail group?
The new combined retail group will be known as The Lovehoney Group. It is formed by the merger of online retailer Lovehoney and WOW Tech Group, creating a global presence across multiple regions.
Q.Which geographical regions will the Lovehoney Group operate in?
Which geographical regions will the Lovehoney Group operate in?
The Lovehoney Group will operate across EMEA (Europe, Middle East, and Africa), APAC (Asia-Pacific), and North America. This expansion aims to give the group unmatched international reach as a specialist e-commerce platform.
Q.What is the projected growth rate for the sexual wellbeing market?
What is the projected growth rate for the sexual wellbeing market?
The sexual wellbeing market is poised to grow at a Compound Annual Growth Rate (CAGR) of 8 percent from 2021 to 2028. This growth follows an explosion in the sector during global lockdowns, making it increasingly mainstream.
Q.Who will lead the newly formed Lovehoney Group?
Who will lead the newly formed Lovehoney Group?
Johannes Plettenberg, who was the founder of WOW Group, will serve as the CEO of the new Lovehoney Group. He commented on the shared mission of the combining companies to destigmatize sexuality.