HONG KONG — Playboy Inc. was awarded $81 million in damages on Monday by the Hong Kong International Arbitration Centre, in a licensing dispute with former partner New Handong Investment (Guangdong) Co. Ltd.
New Handong was previously licensed to use the Chinese translation of "Playboy" across mainland China. Playboy launched the arbitration proceedings in February 2024, asserting that New Handong had persistently violated the agreement and, from as far back as the end of the COVID pandemic, had failed to pay royalties to subsidiary Playboy Enterprises International for the use of Playboy branding on apparel and leather goods.
"We believe justice has been served with this ruling by the Hong Kong Arbitration Tribunal," said Playboy CEO Ben Kohn in a statement. "Playboy is one of the most recognizable brands in the world, and the award highlights the value of the brand. Playboy will continue to vigorously protect its official licensed partners, brand, and intellectual property worldwide."
The tribunal ordered New Handong to pay the full $81 million by Sept. 20.