WESTWOOD, Calif. — Playboy Enterprises Inc. has plans to close its Beverly Hills offices and move three miles west to the UCLA campus town of Westwood.
Amidst a shakeup of its business model, Playboy has agreed to a 40,000-square-foot sublease at 10960 Wilshire Blvd., according to commercial real estate tracker CoStar, reducing its corporate office footprint by 5,000 square feet.
The company’s new offices, located in a 22-story tower, will be about three miles away from its current Beverly Hills offices at 9346 Civic Center Dr.
The new Westwood offices, located on the south side of Wilshire, also house the company headquarters of Boingo Wireless Inc. and numerous legal offices.
Playboy moved to the four-level Beverly Hills corporate offices, with its 45,000 square feet of space, in 2012 after it consolidated offices in Chicago, Los Angeles and New York.
Playboy magazine and companion website Playboy.com this year changed their company slogan from “Entertainment for Men” to “Entertainment for All.”
Cooper Hefner, Playboy’s chief creative officer, said the move was an effort to reach a broader audience.
His father, Hugh Hefner, who introduced the world to Playboy magazine in 1953 and built the company into one of the most recognizable American global brands in history, passed away last year.
In its 64th year in business, Playboy is struggling to rebrand itself as a leading adult entertainment entity in the digital age. The magazine reached the height of its popularity in the early 1970s, with a circulation of 7 million.