Los Angeles, CA — Playboy Enterprises, Inc. (the “Company” or “Playboy”), one of the largest and most recognizable lifestyle brands in the world, today announces the expansion of its global consumer products business into India, in partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle Company in India. With a proven track record of highly successful brand extensions in over 180 markets worldwide, Playboy now looks to India as it seeks to expand its international footprint and unleash the brand’s lifestyle category offerings in the market.

“With Playboy’s proven track record as a leading fashion and lifestyle brand in China, Japan, Korea and Taiwan, we are confident that expansion into India to meet the young Indian consumers’ demand for streetwear fashion is the best next step in the evolution of our international roadmap,” said Ben Kohn, CEO of Playboy Enterprises. “We are enthusiastic about our partnership with Jay Jay Iconic Brands, who has demonstrated its ability to create exceptional shopping experiences for leading global brands.

The Playboy international portfolio has been flourishing for over 25 years in several South Asian markets such as China and Japan. In particular, it has strategically targeted the Millennial and Gen-Z audiences across categories such as apparel, footwear, home textiles, eyewear and watches.

The Playboy and Jay Jay partnership was brokered by Ashish Saxena of MDR Brand Management. Both teams are working closely to identify other exciting extension opportunities in key lifestyle categories including beauty and grooming, food and beverage and sexual wellness.

Dr. Rohit Malhotra, CEO of Jay Jay Iconic Brands said, “Playboy is an amazing brand, rich in heritage and unique assets such as the Rabbit Head logo. The Indian market today is dominated by consumers under the age of 35, who represent more than 65% of the country’s total population and are driving India’s significant online shopping growth. The Playboy brand’s core values of playfulness and exploration resonate strongly with the expressed desires of today’s younger millennial consumers. For us, Playboy was the perfect fit.”

Playboy demonstrates a clear vision to be the leading purveyor of consumer lifestyle product offerings worldwide. The Playboy brand currently holds retail operations (approximately 3000 POS) across online and offline channels, while seeing a continuously high purchasing demand across younger customers. The first collection of Playboy casual fashion, footwear and accessories are expected to launch in India in mid- 2021 on select e-commerce platforms, followed by brick and mortar retail expansion in 2022 across top cities such as New Delhi, Mumbai and Bangalore, producing a true multichannel experience.

Playboy recently announced the change of its parent company name after the completion of its proposed business combination with Mountain Crest Acquisition Corp (Nasdaq: MCAC) (“Mountain Crest”) from Playboy Group, Inc. to PLBY Group, Inc. to reflect its expansion into a leading global pleasure and leisure platform across multiple brands and businesses

About Playboy
Playboy is one of the largest and most recognizable global lifestyle platforms in the world, with a strong consumer business focused on four categories comprising The Pleasure Lifestyle: Sexual Wellness, Style & Apparel, Gaming & Lifestyle and Beauty & Grooming. Under its mission of Pleasure for All, the 67-year-old Playboy brand drives more than $3 billion in global consumer spend and sells products across 180 countries. Playboy is one of the most iconic brands in history.

About Mountain Crest Acquisition Corp
Mountain Crest Acquisition Corp is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Mountain Crest’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although the Company intends to focus on operating businesses in North America. Visit https://www.mcacquisition.com.

About Jay Jay Iconic Brands
Jay Jay Iconic Brands is a sister concern company of Jay Jay Capital and Investments Pvt. Ltd. Established in 2010, the group is headquartered in Bengaluru, India with business interest in the field of Food and Beverage, Hospitality, Consulting, Business Liasioning, and Retailing. Group has signed brands in F&B, hospitality and retail with an aim to launch multiple formats in the current year.

Important Information About the Proposed Business Combination and Where to Find It
In connection with the proposed business combination, Mountain Crest intends to file relevant materials with the Securities and Exchange Commission (the “SEC”), which includes the preliminary proxy statement filed on December 18, 2020 with the SEC, and a definitive proxy statement on Schedule 14A, when available. Mountain Crest’s stockholders and other interested persons are advised to read the preliminary proxy statement and the amendments thereto and, when available, the definitive proxy statement and documents incorporated by reference therein filed in connection with the proposed business combination, as these materials will contain important information about Playboy, Mountain Crest, and the proposed business combination. Promptly after filing its definitive proxy statement relating to the proposed business combination with the SEC, Mountain Crest will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting on the business combination and the other proposals. STOCKHOLDERS OF MOUNTAIN CREST ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE BUSINESS COMBINATION THAT MOUNTAIN CREST FILES WITH THE SEC BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT MOUNTAIN CREST, PLAYBOY, AND THE BUSINESS COMBINATION. Stockholders will also be able to obtain copies of the preliminary proxy statement, the definitive proxy statement, and other relevant materials filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC’s website at www.sec.gov, or by visiting the investor relations section of https://www.mcacquisition.com/.