Benzinga | Jun 23, 2021 05:02PM EDT

EXCLUSIVE: PLBY Group CEO Ben Kohn Talks Playboy Brand, M&A, Digital Transformation on 'Power Hour'

The team at PLBY Group Inc (NASDAQ:PLBY) is focused on transforming the business model and making the company a lifestyle brand, CEO Ben Kohn said in an exclusive interview Wednesday on Benzinga's YouTube show "Power Hour."

About Playboy: PLBY Group sells products in more than 180 countries, Kohn told Benzinga.

The company's aim is to enable pleasure for consumers and to create a lifestyle through consumer products, digital experiences and gaming assets, he said, adding that the runway for PLBY Group is endless.

PLBY Group aims to transform its business model to a direct-to-consumer model in the U.S. and then expand to the rest of the world, Kohn said.

The direct-to-consumer business accounts for the bulk of PLBY Group's revenue and Kohn said he expects it to continue to grow.

Around 90% of sales were to male customers three years ago, but in the first quarter of 2021, 55% of sales were to women, the PLBY Group CEO said.

Mergers & Acquisitions: PLBY Group has a "very robust pipeline of M&A opportunities," Kohn noted.

The company is interested in acquiring companies that will allow PLBY Group to accelerate its growth plans at a faster rate, he said.

PLBY Group is focused on the sexual wellness and style and apparel parts of its business moving forward, the CEO said.

Going Digital: The company is working on rebuilding its website, Kohn told Benzinga. The PLBY Group CEO mentioned potential opportunities for improvement including expanding product categories and offerings, social and real-money gaming, blockchain and NFT's, as well as a virtual Playboy mansion.

See Also: Playboy NFTs Could Be Coming Soon

PLBY Price Action: PLBY Group has traded as high as $63.04 and as low as $11.02 after it went public in February. Since that time, it is up 254.42%.

The stock closed down 0.46% at $37.08 on Wednesday.