Playboy ditches Hollywood roots for flashy new Miami Beach headquarters
The men's magazine company, once synonymous with the late Hugh Hefner's iconic mansion, announced the shocking relocation Wednesday.
CEO Ben Kohn blamed the move on the Golden State's 'anti-business' approach as he revealed the company is Florida-bound.
'We are excited to move the company to the city of Miami Beach, which has been phenomenal to deal with, very pro-business,' Kohn said.
'When you look at the cost of doing business in California against the cost of doing business in Florida, and you combine that with the energy of Miami Beach, it made all the sense in the world for Playboy to move there.'
Playboy is set to take over the penthouse of The RIVANI, a high-end luxury office complex in Miami Beach developed by Robert Rivani, who has reportedly invested over $100 million in the project.
'Miami Beach is one of the most iconic and fastest-growing cities in the world. It's a global hub for culture, creativity and business - exactly the kind of energy that complements Playboy's next chapter,' Rivani told Fox News Digital.
'Playboy is bringing a new twist to the brand with a hospitality component that [we] can't wait to experience,' the high-profile developer added.
The company also plans to open a reimagined Playboy Club at the site, featuring a restaurant and members-only space.
The men's lifestyle and entertainment brand has also announced plans to build new multimedia studios to support its growing digital content and creator licensing business in the new location, Fox Business reported.
'Content is key to our strategy. We plan on building a content team in Miami with moving the magazine as we've relaunched the magazine and the Playmate franchise, basing all of that in Miami,' Kohn said.
'And then we have a massive licensing business on a global basis, and we plan on building a significant licensing team in Miami as well.'
While Playboy did not disclose how many employees are affected by the move, it confirmed plans to complete the transition by next year.
The company currently operates out of a Wilshire Boulevard office in Westwood, Los Angeles.
Miami Beach city officials have welcomed the move as a win for local economic development, and even sent local city commissioners to compete with other U.S. cities for months to land the deal.
The relocation comes amid a growing wave of high-profile corporate exits from California.
In recent years, Tesla, Chevron, Charles Schwab, and In-N-Out have all shifted major operations to states like Texas and Tennessee, citing lower taxes, lighter regulations, and lower operational costs.
California holds the nation's highest personal income tax rate at 13.3 percent, including on investment profits, which Kohn and other critics have argued stifles growth, The Los Angeles Times reported.
For Playboy, the move also marks a return to its South Florida roots. The brand opened its second-ever Playboy Club in Miami in 1961 and later operated the Playboy Plaza Hotel on Miami Beach in the 1970s.
Founded in 1953, Playboy rose to prominence as a lifestyle and entertainment brand featuring Marilyn Monroe in its first issue.
Soon after, it became a pop culture force throughout the 1960s and 70s, known not just for its provocative imagery but also for publishing literary fiction and interviews with figures like Martin Luther King Jr. and Jimmy Carter.
But, in recent years, Playboy has shifted focus from print to digital content, fashion, brand licensing, and sexual wellness, with the print magazine ceasing regular publication back in 2020.
More recently, the company reported a $7.7 million net loss in the most recent quarter, but tallied a 13 percent increase in revenue driven by licensing, according to Fox Business.
As Playboy prepares to settle into its new Miami Beach headquarters, Rivani framed the move as symbolic of a broader trend.
'The move is part of a larger migration of influential companies leaving L.A. and New York for South Florida,' he said. 'When people think of Miami Beach, they think of iconic brands, an unbeatable lifestyle and endless possibilities - and Playboy's arrival amplifies all of that.'
Meanwhile, Kohn says the company is 'excited' for the impending move.
'Given Florida and Miami's pro-business stance, leaving California, which is anti-business and a very difficult place to do business as an employer, we're excited to be relocating,' Kohn told Fox News Digital.
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