Playboy wins $81 million arbitration award against former licensee

Playboy Inc. (NASDAQ: PLBY) announced it has been awarded approximately $81 million in damages following an arbitration ruling against terminated licensee New Handong Investment (Guangdong) Co., Ltd.

The Hong Kong International Arbitration Centre issued a binding decision on September 5, 2025, finding that Playboy's termination of its license agreement with New Handong was lawful and effective. The tribunal ordered New Handong to cease using Playboy's property and materials, including production, sale or distribution of Playboy products.

The $81 million award includes guaranteed royalties outstanding at termination, a termination fee, unpaid marketing expenses, interest and other fees. Playboy Enterprises International Inc., a wholly-owned subsidiary, initiated the arbitration on February 8, 2024, citing ongoing material breaches by New Handong.

The tribunal rejected all of New Handong's counterclaims along with certain other claims brought by Playboy. New Handong has until September 20, 2025, to make full payment of the damages awarded.

"We believe justice has been served with this ruling by the Hong Kong Arbitration Tribunal," said Ben Kohn, Playboy's chief executive officer and president. "The award highlights the value of the brand."

Playboy stated it intends to pursue enforcement actions against New Handong but cannot provide assurance it will be able to collect any or all monetary damages from the company. The information is based on a company press release.

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