English retailer and manufacturer of adult toys, Lovehoney last Thursday merged with German company WOW Tech Group. Together with the Swiss brand Amorana, which was acquired by Lovehoney last September, they formed the Lovehoney Group. The new group will be led by WOW Tech CEO Johannes Plettenberg, although both Lovehoney and WOW Tech will continue to be run by their current teams.
English store for global customer
Lovehoney is an internationally recognized online retailer of adult products. Among other things, the company is known for its collaboration with E.L. James on the BDSM brand Fifty Shades of Grey, which is constantly adding new products to its collection, erotic lingerie collection called Lovehoney Lingerie, and vibrators brand Happy Rabbit.
Founded in 2002 by Richard Longhurst and Neal Slateford, the company has received over 70 awards and accolades over the years. Including twice the highly prestigious Queen’s Award for Enterprise in 2016 and 2021, for overseas sales performance.
Innovative WOW Tech Group
WOW Tech Group is the owner of such brands as Womanizer, We-Vibe, ROMP and the recently gaining popularity Arcwave. WOW Tech Group was formed when the German company Womanizer merged with the Canadian manufacturer We-Vibe.
WOW Tech Group places great emphasis on research and development of their products and technologies. Their innovative products are very popular among customers all over the world.
It should also be pointed out that the brands that are part of WOW Tech Group, especially Womanizer, have gained popularity also thanks to proper PR. Numerous promotional actions and campaigns aimed at spreading knowledge and positive aspects of sexuality reach such a large range that they even penetrate mainstream media, which is not a common phenomenon in this industry.
‘The whole is more, than the sum of the parts’
After a very successful year for the industry as a whole, which was characterized by high demand for adult products, it is estimated that the newly formed Lovehoney Group (LHG) will generate over $400 million in sales this year. Such a result will make LHG arguably the world’s largest adult products company in terms of revenue.
LHG already employs a total of more than 730 professionals from over 25 countries and has ten offices located around the world. The company has specialists in fields such as engineering, industrial design, service and sales or marketing and PR.
The Lovehoney Group’s lead investor will be Telemos Capital, which has been Lovehoney’s majority shareholder since 2018. Meanwhile, CDH Investments, which was the majority owner of Wow Tech Group as of early 2020, and Lovehoney co-founders Richard Longhurst and Neal Slateford will likely retain a minority stake in the new company.
Johannes Plettenberg, CEO of the Lovehoney Group commented – We are excited about this transaction and partnership. Amorana, Lovehoney, and WOW Tech share the same mission to destigmatise sexuality, empower people to enjoy a fulfilling love life, and experience sexual happiness. Combined, we will be even better placed to contribute to bringing sexual happiness to the centre of society. This will benefit our entire industry. We are looking forward to continuing to work with our teams to create even more value for all our B2B partners and their customer base. By partnering even more closely together, I am certain we can all achieve our common goals.
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