WOW Tech merges with Lovehoney
Lars-Thorben Niggehoff
| 13.08.2021
The Berlin-based sex toy specialist joins forces with the British erotic retailer to form a multimillion-dollar group. WOW CEO Johannes Plettenberg remains on board.
British erotica retailer Lovehoney is merging with Berlin-based sex toy maker WOW Tech. The companies made the announcement in a joint statement on Thursday. The new company, which is valued at one billion euros according to the statement, will be called Lovehoney Group. Current WOW Tech CEO Johannes Plettenberg will lead the joint venture.
Plettenberg had built WOW Tech in 2017 and 2018, when he and some investors first acquired the Womanizer brand and merged it with Canadian company We-Vibe. Lovejoy has been around since 2002, and the e-commerce company had most recently already swallowed its Swiss competitor Amorana. Telemos Capital, previously the majority owner of Lovehoney, will also hold most of the shares in the newly formed group.
Lovehoney Group plans to turn over $400 million this year and be profitable from the start.
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