Instead, they chose to focus on making the live shows more profitable, hiring a team from Broadway to add glamour and sophistication to the show with more elaborate costumes, choreography, and fantasy plots. Gone also were the lap dances and the opportunities for women to kiss the dancers in exchange for tips.

The changes succeeded in broadening the show's appeal, and today, the Chippendales garner $10 million annually from their Las Vegas show (tickets cost upwards of $40) and four other touring shows. The company reaps an additional $3 million in product licensing from products such as T-shirts, calendars, themed slot machines, and even cell-phone downloads of their dancers.

Denberg, however, believes he can turn Chippendales into a $150 million company by aggressively pursuing new revenue streams. A Chippendale movie and workout video are in development, and a reality show is scheduled to begin shooting in Germany this fall.

Denberg also plans to enhance the Chippendales website by adding a member's section later this year, which will offer live chats with the performers, workout tips, and videos on performer's personal lives.

Given its tremendous brand recognition, analysts say Chippendales certainly has the potential to deliver on its ambitious plans.
    
"The Chippendales are iconic in male cabaret content for women," says Farley Cahen, vice president of business development and licensing for AVN Media Network, an adult entertainment industry trade group. "In Vegas, 'Thunder from Down Under' is a recognizable brand name, but nowhere near the Chippendales, which thrives internationally as a male revue."

Protecting that brand name is an ongoing challenge, however. Denberg says Chippendales spends nearly $500,000 a year fighting infringement on its three primary trademarks—the Chippendales name, the dress of collars and cuffs, and the tagline "The Ultimate Girls Night Out." The company has also purchased more than 100 domain names with global derivatives of the Chippendales to prevent cybersquatting, and to prevent women from equating the company with porn sites.

"I'm sure we lose money to [imposters]," Denberg says. "But the bigger problem is protecting the brand. We don't want women who see a handful of guys in cheap wardrobes to think they're seeing the Chippendales."

Further establishing and protecting that image of Chippendales as good, clean, sophisticated fun is something that Denberg says is essential to the company's success.

"You'll never see more in a Chippendales show or Chippendales website than you'll see on a late prime-time TV show," Denberg says. "For our long-term strategy of producing a global brand and working with reputable companies, we need to keep the brand clean."