LONDON — LELO is reportedly exploring a sale, according to a Bloomberg report published yesterday.
According to Bloomberg’s analysts and sources, the Sweden-based sex toy company is exploring the sale due to a very favorable valuation that takes into consideration that the pleasure product industry “experienced a boom during the coronavirus lockdowns.”
LELO is currently partially owned by Chinese buyout firm Trustar Capital and has “attracted takeover interest from corporate suitors as well as private equity funds,” the report explained.
An earlier plan for an initial public offering (IPO) in London was scrapped. Bloomberg reported last September that LELO was seeking a valuation of more than £1 billion ($1.3 billion) then.
According to the tech news service, the global sexual wellbeing market has been projected to double to more than $62.3 billion in revenue by 2030.
This is due, a financial research group noted, to “the declining stigmas around the products.”