Home > Sex Tech > WOW Tech Group and Lovehoney Merge, Forecast $400m in 2021 Revenue

Home›Sex Tech›WOW Tech Group and Lovehoney Merge, Forecast $400m in 2021 Revenue

WOW Tech Group and Lovehoney Merge, Forecast $400m in 2021 Revenue

August 13, 2021

1884

Lovehoney Group claims title of “world’s largest sexual wellness company” after two international companies combine.

Two well-known names in sex tech, WOW Tech Group and Lovehoney, have joined forces and merged into the Lovehoney Group. Previously headquartered in Germany and the United Kingdom respectively, the new company will operate across Europe, Asia, Australia, and North America, in 10 offices.

The Lovehoney Group predicts revenue of at least $400 million in 2021, with CEO Johannes Plettenberg at the helm. The Wall Street Journal reported the merger deal as valued at $1.2 billion

According to a press release, Lovehoney Group also cited a 26% increase in sales between 2019 and 2020 due to higher demand for adult products during COVID-19 lockdowns.

The merger unites popular consumer brands including Fifty Shades of Grey, Happy Rabbit, Womanizer, We-Vibe, and Arcwave.

The future also looks promising for the global sexual well being market. A market analyis report from Grand View Research states it is projected to grow at a CAGR of 8% from 2021 to 2028.

In 2020, the market was valued at $34 billion and is expected to jump to more than $52 billion by
2028.

Many mergers

WOW Tech Group launched in late 2018 following the merger of the German company Womanizer Group and the Canadian Standard Innovation Corporation, the creator of We-Vibe.

Standard Innovation Corporation had been previously been embroiled in a privacy lawsuit, which resulted in a $3.75 million settlement in 2017.

Founded in 2002 in the United Kingom, the online retailer, manufacturere and distributor Lovehoney received royal recognition for its overseals sales and ongoing growth in 2016 and 2021.

It acquired online retailer Amorana in 2020,

‘Pleasure air’ patent

WOW Tech Group is currently embroiled in a patent suit against Lora DiCarlo over “pleasure air” patent rights. It sued Lora DiCarlo in January 2021, and has since re-asstered its claims to this type of technology in a statement given to XBIZ.

Image sources: Lovehoney Group

TagsSex Tech News

Jenna Owsianik

Jenna Owsianik is a Canadian journalist and sex tech expert. Since 2014 she has been Editor-in-Chief of FutureofSex.net, the world’s leading publication on how technology is changing human sexuality, today and tomorrow.

Jenna is the primary author of the Future of Sex Report (2016).

Her expertise covers state-of-the-art sex technologies and the major fields driving innovations in intimacy: robotics, virtual reality, remote sex (teledildonics), immersive adult entertainment, human augmentation, virtual sex, and sexual health.

A trained journalist with a Masters of Journalism from The University of British Columbia, Jenna’s reporting has appeared on Futurism.com, Al Jazeera English, CTV British Columbia online, CBS Sunday Morning, CBS 60 Minutes, Global News, and CKNW Radio in Canada and the United States.

As a sex tech industry consultant, she is especially passionate about helping companies deliver accessible services and products to people with disabilities and other underserved communities.

Jenna also runs the sites SexforEveryBody.com, a sex-positive, body-positive online magazine that promotes inclusive sex education; and DisabledSexGuide.com, an adult resource on sex, disability, and erotica.

In 2013, Jenna won two Canadian Online Publishing Awards for her work on The Pain Project, a multimedia site on global access to palliative care.

She won second place at the 2011 Awards for Excellence in Health Care Journalism’s Public Health category for her participation in the documentary Freedom From Pain.

Jenna has an Honors BA in Women’s Studies and Feminist Research as well as a French minor from The University of Western Ontario. She spent a year studying at L’Université Lumière Lyon 2 in Lyon, France.