PLBY Group, Inc. is an American global media and lifestyle company founded by Hugh Hefner as Playboy Enterprises, Inc. to oversee the Playboy magazine and related assets. Its headquarters are in Los Angeles, California. The company is focused on four primary business lines: Sexual Wellness, Style & Apparel, Gaming and Lifestyle, and Beauty & Grooming. Today, PLBY Group, together with its subsidiaries, engages in the development and distribution of content, products and high-profile events that embody both "eroticism and fine art", alongside and apparel retailing. It is in the top twenty most licensed brands globally. History Sales of Playboy magazine peaked in 1972 at over 7 million copies. By 2015, the circulation had fallen to 800,000. The company completed its shift to consumer products in 2020 with the shuttering of the magazine division, and is now known to generate more than $3 billion in consumer spending annually across 180 countries. Playboy Enterprises, Inc. made its initial public offering on November 3, 1971 at $23.50. Playboy ran forty Playboy Club properties from 1960 to 1986 and operated casinos in England from the mid-1960s to 1981, when they lost their operating license. Playboy also operated a casino in Nassau, Bahamas, from 1978 to 1982. From 1981 to 1984, the company was a partner in the Playboy Hotel and Casino in Atlantic City, New Jersey. Playboy Enterprises was denied a permanent New Jersey gaming license and was forced to sell out to its partner, which changed the name of the hotel/casino to the Atlantis Hotel and Casino. The company returned to the nightlife business with the Playboy Club at the Palms Casino Resort in Las Vegas, which opened in 2006 and closed in 2012. Other Playboy Clubs opened in Cancun, Macau, and London in 2010 and 2011. Meanwhile, the company said it would open at least three Playboy stores in each of the next three years. The Age reported in October 2008 that, for the first-time ever, Hugh Hefner was selling tickets to his celebrity-filled parties to offset his cash-flow problems due to setbacks Playboy Enterprises had suffered, including decreasing Playboy circulation, decreasing stock value, and ventures that have yet to turn a profit. Christie Hefner released a memo to employees about her efforts to streamline the company's operations, including eliminating its DVD division and laying off staff. In March 2011, founder Hugh Hefner succeeded in a bid to take Playboy Enterprises private