The iconic brand, Playboy, is being offered $100M in cash by Hugh Hefner's son to buy it back, with a pledge to restore its legacy.

With a $100 million cash bid, Cooper Hefner, the son of the late Hugh Hefner, is striving to acquire ownership of the renowned brand, Playboy.

Cooper, 33, stated to Planet Chronicle Digital that he aims to "revive" the brand's legacy, which was made public in 2020, and "introduce new ideas and broaden its scope for future generations."

"According to Cooper, Playboy is more than just a brand – it's an American institution that has been a part of our culture for over 70 years. The company represents freedom of expression, individuality, and entertaining stories. Our family believed in creating something bigger than a magazine; it evolved into a cultural movement, a lifestyle, and a platform for ideas that challenged norms and redefined what it means to live freely and unapologetically."

"Growing up, I observed the influence of Playboy on individuals' lives, including inspiring the pursuit of leisure, sparking discussions about equality and civil rights, celebrating art, humor, and human sexuality without embarrassment. As a result, this brand has become a symbol of change and now has the chance to do so once more."

Cooper said the investment opportunity could not be more "clear."

"Playboy can experience a revival with the right leadership and vision, as we have identified the necessary steps to restore its legacy and innovate for the future. We are committed to driving the brand forward, blending its heritage with fresh relevance to create long-term value for all stakeholders."

"We eagerly anticipate partnering with PLBY Group, Playboy's current parent company, to establish a mutually beneficial plan that benefits all stakeholders, while propelling Playboy to new heights, preserving its legacy, and shaping a daring future through events, entertainment, and products."

In 1953, a 27-year-old man named Hugh, who was working at Esquire magazine in Chicago, used $600 of his own money and $8,000 from investors to launch a cultural phenomenon and publishing revolution.

"Hugh, whose mother invested in the magazine, told Planet Chronicle at the Playboy 50th anniversary party in 2003 that his mother didn't believe in the magazine but believed in her son. He said that the magazine is still popular among young men and women, and it was the first to publish a magazine for single guys."

In 1953, the first issue of Playboy was published, featuring a nude centerfold of Marilyn Monroe, which sold over 50,000 copies. From that point on, Playboy became a cultural phenomenon, establishing its empire through extravagant parties at the Playboy Mansion, exclusive celebrity access, and above all, sexual freedom.

Hugh owned and operated a string of exclusive Playboy clubs in Los Angeles due to the brand circulating seven million magazines per month.

In 2017, Hugh revealed to NPR that he attempted to create a magazine targeted towards the single life, specifically focusing on the bachelorhood period before settling down. The concept of the magazine was a groundbreaking revelation.

In-depth interviews and jaw-dropping photos of celebrities such as Madonna, Brooke Burke, Elle MacPherson, Sophia Loren, Pamela Anderson and more were featured in Playboy following the years.

During the 50th anniversary party in 2003, Anderson stated that his career was a result of Hef's influence.

The brand transformed into a revolutionary force that revolutionized the way people think about freedom of expression and sexual liberation.

Despite their success, Playboy and Hugh, who passed away in 2017, frequently faced controversy, including accusations of abuse made by ex-girlfriends and Playmates.

In 2016, Holly Madison published a memoir, "Down the Rabbit Hole," detailing years of verbal and emotional abuse she experienced at the Playboy Mansion. In late 2021, she described her "traumatic" first sexual encounter with Hugh Hefner on the podcast "Power: Hugh Hefner." And in early 2022, she spoke about her experiences at the mansion on A&E's "The Secrets of Playboy," claiming it was a "cult-like" environment.

"Madison revealed to Planet Chronicle Digital earlier this year that living at the Playboy Mansion was a lot of control, with a lot of being made to feel insecure and put down. However, she added, "You don't want to be kicked out, and you don't want to piss anybody off. I feel like even people who were going to parties at the mansion felt like they knew Hef, but they didn't necessarily see that side.""

Crystal Hefner, Hugh's widow and the wife of the Playboy founder for nearly five years, claimed that Hugh was emotionally abusive.

""Hef was a complex person who wasn't entirely good or evil. He wasn't a predator, but he was also narcissistic and a misogynist. We need to be honest about this moving forward," she said in January while promoting her memoir."

A spokesperson for Playboy issued a statement about Crystal's book at the time of A&E's 2022 docuseries, though Playboy didn't initially respond to Planet Chronicle Digital's request for comment.

"We believe that today's Playboy is not the same as Hugh Hefner's Playboy. We validate and trust the women who come forward to share their experiences, and we strongly support those individuals. As a brand that promotes sex positivity, we prioritize safety, security, and accountability."

"The spokesperson emphasized the importance of actively listening and learning from others' experiences. "We will never shy away from confronting the parts of our legacy as a company that do not align with our values today," the spokesperson stated."

"We are an organization with a more than 80% female workforce, dedicated to continuously evolving as a company and promoting positive change in our communities."

In 2020, due to issues during the coronavirus pandemic, Playboy temporarily halted and eventually ended the publication of its print edition. The company later became publicly traded that same year.

In 2025, PLBY Group plans to relaunch the magazine.

The new "Playboy" magazine will include iconic elements such as unforgettable photography, renowned features like the Playboy Interview and Playboy Advisor, celebrity pictorials, and the Playmate Centerfold, which has been a staple of the publication since its inception, according to a press release from the company.

"The revival of Playboy's iconic Playmate franchise will coincide with the magazine, featuring a global search for the 2024 and 2025 Playmate of the Year and the introduction of a new class of Playboy Bunnies, who will embody the brand at exclusive events and experiences throughout the year."

Playboy is facing a "game-changing moment" with Cooper's bid of a lifetime, according to brand experts.

"The acquisition of the company by Cooper signifies more than just a financial transaction; it represents a chance to reconcile the past with the future. As a publicly traded entity, Playboy has shifted its focus from the philosophy of its founder to revenue streams. If Cooper succeeds, this could be a turning point that restores the brand's soul, reconnects it with the cultural narrative, and aligns it with the aspirational lifestyle championed by Hugh Hefner."

If Cooper's bid is accepted, Britto believes that Playboy can regain its status as a "cultural force" beyond just a brand.

The runaway bride of Hugh Hefner, a Playboy model, shares her story in a memoir.

"By adopting the right strategy, the Playboy brand can overcome outdated perceptions and reclaim its position as a sophisticated, pleasurable, and bold lifestyle brand. This presents an opportunity to reposition the brand as a modern symbol of personal expression, freedom, luxury, and thought leadership. The future holds great potential, but only if the brand evolves with intention, inclusion, authenticity, and a fearless new vision."

Laura Betterly, founder of Yada Yada Marketing, advised Cooper to "adapt to the contemporary consumer environment" in order to achieve success.

"While his father's vision was revolutionary in the 1950s, today's audiences prioritize inclusivity, body positivity, and authenticity. Cooper should preserve the spirit of creativity and freedom of expression, but adapt it to the way people consume content today - through social media, streaming platforms, and experiential brand interactions."

"Furthermore, merchandising remains a significant advantage," she stated. "The Playboy logo is renowned, and products in fashion, sexual wellness, and lifestyle categories continue to be popular. If Cooper can blend this merchandising power with a cutting-edge digital plan, he can establish a contemporary legacy that pays tribute to his father while attracting younger audiences."

Planet Chronicle Digital's Stephanie Nolasco contributed to this report.