Playboy Spirits, a US-based venture, has introduced a selection of ready-to-drink beverages (RTDs) within the United States market.
Established by PLBY Group in collaboration with a Spirits Investment Partners affiliate, the company asserts that its Play Hard beverages address the gap in the premium RTD (ready-to-drink) category.
In a statement, Marc Bushala, CEO of Playboy Spirits and Spirits Investment Partners, said the RTDs “capture Playboy’s legacy as a bon vivant, lifestyle brand”.
The 4.5% alcohol by volume (ABV) canned vodka seltzers come in four flavors and will initially be offered at “specific retail locations” in Miami and Orlando. Playboy Spirits has also outlined its intentions to broaden its presence in other markets throughout the year 2024.
Bushala added, “Play Hard celebrates self-expression and a nod to those who like to play hard and have fun.”
Last year, PLBY Group and XL Ventures II (XLV), a Spirits Investment Partners affiliate, jointly established Playboy Spirits.
Subsequently, the company has introduced Bourbon, Cognac, and Tequila offerings, all under the Rare Hare brand.
In January, the company announced it had secured over $13 million in funding through a private placement of senior secured convertible notes conducted by its wholly-owned operating subsidiary within the venture.
Playboy Spirits is 40% owned by a subsidiary of PLBY Group and 60% owned by XLV.
During the funding announcement, the venture mentioned that the conversion of the notes might lead to a potential ownership dilution of up to 50% for Playboy Spirits in the operating subsidiary, yet it would not diminish Playboy Spirits’ managerial control over the business.
Among Spirits Investment Partners’ various business endeavors is Heaven’s Door Spirits, the American distillery established in collaboration with Bob Dylan in 2015.
In April, Heaven’s Door announced plans to open a distillery in Kentucky.
Earlier this week, InvestBev, the US private-equity investor, put an undisclosed sum into RTD business Thomas Ashbourne Craft Spirits.
Established last year, Thomas Ashbourne Craft Spirits teams up with celebrities and markets ready-to-drink cocktails.
The company’s products, sold through retailers and directly to consumers, include The Perfect Cosmo by SJP, developed with actor Sarah Jessica Parker.
