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Highlights
Playboy awarded approximately $81 million in arbitration, including interest.
Tribunal confirms Playboy’s termination of New Handong license was lawful.
New Handong ordered to cease all use of Playboy intellectual property immediately.
Playboy, Inc. (Nasdaq:PLBY) announced that it has successfully concluded arbitration against its former licensee, New Handong Investment (Guangdong) Co., Ltd. The arbitration, conducted through the Hong Kong International Arbitration Centre, resulted in a binding award of approximately $81 million in damages to Playboy, including accrued interest.
The arbitration followed the termination of New Handong’s license due to ongoing, uncured material breaches. Playboy Enterprises International, Inc., a wholly-owned subsidiary of Playboy, initiated the proceedings on February 8, 2024, seeking resolution of issues related to unpaid royalties, marketing expenses, and other contractual obligations.
Tribunal Decision
On September 5, 2025, the arbitration tribunal issued its non-appealable decision, affirming the legality and effectiveness of Playboy’s termination notice. The tribunal directed New Handong to immediately cease any further production, sale, or distribution of Playboy products and to stop using Playboy intellectual property in any form.
In addition to halting operations, New Handong was ordered to make payments for guaranteed royalties outstanding at the time of termination, a termination fee, unpaid marketing expenses, and certain other costs. The total amount awarded, including interest, is approximately $81 million. The tribunal rejected all counterclaims filed by New Handong, as well as certain claims initially presented by Playboy.
Next Steps
New Handong has until September 20, 2025, to make full payment of the damages awarded. Playboy has indicated that it intends to pursue all appropriate enforcement actions to collect the awarded amount but noted that it cannot guarantee full recovery of the damages.
About Playboy, Inc.
Playboy, Inc. is a global company focused on leisure and pleasure, offering products, content, and experiences in approximately 180 countries. Over its 70-year history, Playboy has developed a recognizable brand and continues to promote a culture centered on freedom of expression, equality, and the pursuit of pleasure. The company’s operations span media, hospitality, and consumer products, aiming to provide experiences that enhance personal enjoyment and well-being.
