Benzinga | Dec 2, 2021 01:35PM EST

Playboy Announces Cardi B As Creative Director For CENTERFOLD Creator Platform: What Investors Should Know

A leading consumer brand is partnering with a well-known music artist to strengthen its product portfolio and boost its upcoming product launch.

What Happened: Playboy and parent company PLBY Group (NASDAQ:PLBY) announced Thursday a collaboration with musician Cardi B.

Cardi B will serve as the first-ever Creative Director In Residence for Playboy. She will also serve as the Founding Creative Director and a founding member of CENTERFOLD, an upcoming creator-led platform from the company.

"It is a dream come true to officially join the Playboy family. I can't believe this is real," Cardi B said.

Related Link: PLBY Group Q3 Highlights

Why It's Important: Cardi B shared the news across social media, where she has 20.2 million followers on Twitter Inc (NYSE:TWTR) and over 116 million followers on Instagram, a unit of Meta Platforms (NASDAQ:FB).

PLBY Group CEO Ben Kohn highlighted CENTERFOLD and its potential to "revolutionize the creator economy just as PLAYBOY magazine shook up the publishing industry."

CENTERFOLD is expected to launch in December 2021 and serve as a platform for creators and fan communities.

Price Action: PLBY shares are trading up 0.4% to $35.40 at the time of writing.

Photo: Sean Davis, Flickr