Playboy – The Rise and Fall…and Rise Again Part 3 : Aspirational Brand
A Founder-centric Aspirational Brand
Until 1970, Hefner had chosen to stay behind the limelight. But in 1971, after the company’s very successful IPO, Hefner rebranded himself as Playboy's premier face and centerpiece of the brand. Playboy thus became an aspirational brand. Everything was related to and represented Hefner’s understanding of society and women as Playboy expanded into multiple ventures like modelling agencies, photoshoot agencies, music ventures and more.
However, shortly in the mid-1970s, the American recession hit the market and sales plummeted. By the end of the 1970s, Playboy was also experiencing a harsh hit to sales due to the public's resistance to reading obscene magazine news while multiple competitors of Playboy grew in the market. Playboy began to lose direction in the sea.
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