ATHENA ENTERPRISES
The future of sexual wellness
has a name.
Brick and mortar. Private label. Distribution. Ecommerce. Amazon. Direct sales.
One company. Every channel. Total category ownership.
Confidential — Not for distribution
THE PROBLEM
A $34 billion industry.
No one owns it.
Fragmented Retail
Thousands of independent stores with no shared infrastructure, no brand standards, and no purchasing power. Mom-and-pop operations competing against Amazon with zero leverage.
No Integrated Player
No company owns the full stack — retail, private label, distribution, ecommerce, and direct sales under one roof. Every competitor plays in one lane. Nobody has connected them.
Structurally Underbanked
Mainstream capital avoids this space. Banks won't lend. VCs won't touch it. The result: massive cash-rich businesses with zero access to sophisticated capital or growth infrastructure.
"We're not just redefining sexual wellness — we're reclaiming it. In a world where pleasure is powerful and intimacy is celebrated, women should be the ones leading the conversation about women's bodies."
— Kerstin Hadzik, CEO of the Next Sexual Revolution
THE OPPORTUNITY
Massive market.
Structural mispricing.
The largest sexual wellness deal in history was $1.2 billion — Lovehoney + WOW Tech.
No one has built an integrated company across retail, private label, distribution, and ecommerce. That's the gap. That's Athena.
THE MODEL
Five channels.
One ecosystem.
Brick & Mortar
Acquire, rebrand, and operate physical retail locations under the Athena umbrella. Immediate cash flow and local market dominance.
- Acquire at 2–4x EBITDA
- Rebrand under unified identity
- Standardize ops + purchasing power
- Cross-sell private label in-store
- Real estate value capture
Private Label
We're acquiring a manufacturer outright — and several retail targets already operate their own production in-house. Day one, we own the supply chain.
- Manufacturer acquisition in pipeline — vertical integration from launch
- Retail targets with existing in-house manufacturing
- Sold in-store, online, Amazon, and via distributors
- Brand IP and defensible differentiation
- 85–90% gross margins vs. 60% on resale
Distribution
Wholesale private label and curated third-party products to retailers, boutiques, and hospitality. B2B revenue at scale.
- Supply independent retailers nationally
- Hospitality & hotel partnerships
- White-label product programs
- Fulfillment infrastructure (playthings)
Ecommerce & Amazon
DTC via playthings.com plus an Amazon storefront. Subscriptions, bundles, and private label sold direct to consumer everywhere they shop.
- playthings.com — owned DTC storefront
- Amazon store — reach 200M+ shoppers
- Subscription boxes (4 concepts ready)
- SEO, content marketing, creator partnerships
Direct Sales
When Pure Romance exited the category, it left behind a $350M creator ecosystem with nowhere to go. We're building the infrastructure they need — ethical, modern, and ready to fulfill.
- Creator-operated storefronts (white-label)
- Party & event model modernized
- Fair comp structure — no predatory tiers
- Integrated with private label & fulfillment
- Turnkey fulfillment for displaced $350M seller network
Every channel feeds the others. Retail drives brand. Private label drives margin.
Distribution drives reach. Ecommerce drives scale. Direct sales drives community.
Together, they compound.
TRACTION
This isn't a concept.
The infrastructure is built.
ACQUISITION PIPELINE
The targets are identified.
The playbook is ready.
| Target | Region | Scale | Status |
|---|---|---|---|
| Target A | Multi-location · South | 22 stores | Active DD |
| Target B | Northeast | 8 stores | In Discussions |
| Target C | Southwest | 16 stores | In Discussions |
| Target D | West Coast | 15 stores | LOI Stage |
| Target E | Manufacturing · Private Label | Production facility | Active DD |
| + 33 more | National | Varying scale | Identified |
Identify & evaluate
Financial & cultural review
Acquire at 2–4x EBITDA
Integrate & rebrand
Optimize & scale
BRAND PORTFOLIO
One parent.
Many faces.
Athena Enterprises
Parent · Corporate · Investor-facing
Active
playdate
Consumer retail brand — all stores rebrand here
In Progress
playthings
Private Label · Ecommerce · Amazon · DTC · Fulfillment
Live
playhouse supply
Wholesale · B2B · Retail supply · Hospitality
Planned
Sexersize
Private label product & content brand
Assets Created
Subscriptions
Smutty Book of the Month · Date Night · Muchness
Concepts Defined
Athena Media
Culture · Storytelling · Studio Ooohhh · Podcasts
Strategy Complete
Pink Box Foundation
Non-profit · Grants · Community
Planned
THE TRAJECTORY
From first close to
category leadership.
Foundation & First Acquisitions
Integration & Multi-Channel Growth
Scale & Distribution
Omnichannel Dominance
Category Leadership
EXIT PATHWAYS
Multiple ways
to win.
Strategic Acquisition
Sale to a major retailer, wellness company, or media company. Comp: Lovehoney/WOW Tech at $1.2B.
PE Recapitalization
Take growth equity, partial cash-out, continue scaling. Proven model in multi-unit retail roll-ups.
Licensing Empire
License the platform, media formats, and brand to operators globally. Asset-light, high-margin recurring revenue.
IPO
Go public at $50M+ revenue with consistent growth. Category-defining female-led company in a $52B market.
Founder Dividend Model
Stay private. Optimize for cash flow. Distribute profits. Build generational wealth on your own terms.
MARKET COMPS
The multiples are there
when the operator is right.
Lovehoney + WOW Tech
Merged at $1.2B valuation on $400M+ revenue. Product-only — no retail, no DTC platform, no vertical integration. ~3x revenue.
Hims & Hers (SPAC)
Went public at $1.6B via SPAC in 2020. Now valued at $8B+ on $2.3B revenue. Wellness DTC platform — proves the omnichannel model scales.
Dollar Shave Club
Acquired by Unilever for $1B in 2016 on ~$200M revenue. DTC personal care brand — 5x revenue multiple. Subscription + brand equity.
Lumé → Harry's
Bootstrapped DTC personal care brand, doctor-founded and woman-led. Acquired by Harry's — a $1.7B platform built on scaling exactly this model.
LEADERSHIP
Founder-led.
Mission-driven.
Kerstin Hadzik
CEO & Co-Founder
Architect of the Athena vision and the driving force behind the company's strategy. Built the entire acquisition pipeline, corporate structure, brand portfolio, and creator infrastructure from scratch. Leads investor relations, strategic partnerships, and brand development across every vertical. Background in M&A, business development, and brand building — with deep category knowledge and relationships across the retail and creator landscape.
Jason Johnson
COO & Co-Founder
Responsible for integrating acquired retail chains into the Athena operating model — standardizing operations, purchasing, staffing, and P&L management across every location. Leads deal execution, financial modeling, entity structuring, and post-acquisition integration. The operational backbone that turns signed deals into performing assets.
NEXT STEPS
Let's talk about
what's next.
We have lending partners already committed to the acquisition strategy. We're now selectively expanding our capital base for investors who want in early — before the first close.
Request the Full Deck
Detailed financials, pro formas, and entity documentation available under NDA. Let's start a conversation.
Contact KerstinKerstin Hadzik — CEO & Co-Founder
Athena Enterprises, LLC
kerstin@athenagroupusa.com