MacGregor Golf-owned global golf apparel brand Greg Norman has been acquired by New York-based Tharanco Group. Announcing the development, Michael Setola, president and CEO, MacGregor Golf, said, “Tharanco gives Greg Norman Collection the opportunity to accelerate the building of lifestyle brand with Tharanco that has a strong and resourceful operations platform.”
Setola will remain CEO and is a partner in the new company, Tharanco Lifestyle, LLC. Meanwhile, the amount of the deal remains undisclosed.
“The company will continue to place its apparel emphasis on being a leading authentic golf lifestyle brand that combines performance, luxury and style through innovative product development. Additional emphasis for growth will be placed on international licensing and other related product licensing opportunities,” added Setola.
Adding further, Haresh Tharani, CEO, Tharanco Group, said, “I am particularly excited about future efforts to expand lifestyle sportswear opportunities beyond true golf in an effort to capture the consumer reach inherent in the Greg Norman brand.”
Greg Norman is available in India through a distribution tie-up with domestic company BTB Marketing. The new agreement is effective immediately and Greg Norman Collection will continue to be managed and sold by its existing sales team.
— IndiaRetailing Bureau