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I Love You, Honey! What Did a German Count and a Swiss Coffee Heir Get Up To?
Everything you've always wanted to know about Lux HoldCos - but were afraid to ask
Alex Prokofjev
July 01, 2024
Disclaimer: RollUpEurope cannot be held liable for any assumptions or facts presented in this article. While the article provides specific figures and calculations regarding a real company, readers are advised to independently verify the information provided and make their own judgments. Any decisions made based on the content of this article are done so at the reader's own risk. This not investment advice!
Retail is a scale game that lends itself to M&A. Never mind the recent, disastrous spell of Amazon brand consolidation. The real action has been happening out of the limelight, involving niche industries, and bankrolled by highly sophisticated, long-term investors.
Like sexual wellness: a market worth a reported $23B - and growing 5% p.a.
Today, we are bringing you the incredible story of Lovehoney Group - the self-styled “world’s leading sexual-wellbeing company”.
Source: Lovehoney Group
If, for you, the phrase “sex toy retail” conjures the image of a dodgy bloke dealing out of a back alley, you could not be further from the truth. Lovehoney’s majority shareholder is Telemos - an investment vehicle controlled by Philippe Jacobs. Philippe is an offspring of the Jacobs family, the coffee-and-chocolate dynasty based in Switzerland. Lovehoney’s CEO is Johannes Plettenberg. Or, to be precise, Graf Von Plettenberg.
Lovehoney Group is a combo of two rollups. Outside-in, it has a fiendishly complex corporate structure with companies in Luxembourg, Jersey, England and Germany. Don’t worry: we have broken it down for you!
Let’s dig in. In this article, we will cover:
Lovehoney’s story: from 0 to $1B+ valuation
How Lovehoney has structured acquisitions - and itself
Why “sexual wellness” is a cure for business blues