Greg Norman Collection Announces New Partnership With Tharanco

The company plans to expand on its lifestyle brand

NEW YORK (February 2, 2009) — MacGregor Golf President and CEO Michael Setola announces today Greg Norman Collection has been acquired from the MacGregor Golf Company by The Tharanco Group. Setola will remain CEO and is a partner in the new company, Tharanco Lifestyle, LLC.

“Tharanco gives Greg Norman Collection the opportunity to accelerate the building of a true lifestyle brand with a partner that has a strong and resourceful operations platform with deep experience in apparel sourcing and brand building. The company has significant global reach, is very well financed and experienced in licensing, which will allow Greg Norman Collection to increase sales and profits both internationally and domestically. 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” said Setola.

Haresh Tharani, CEO of The Tharanco Group states, “The opportunity to partner with one of the markets iconic, globally recognized lifestyle brands and its trusted management team is an exciting step forward for Tharanco. We look forward to bringing our worldwide operations expertise to the Greg Norman Collection and expanding the domestic and international footprint of this well-known brand.”

“I believe the management team at GNC under Michael’s leadership combined with the opportunity to build our brand with The Tharanco Group and Haresh Tharani as a partner is an unbeatable combination” said Greg Norman. “I look forward to together growing the company both domestically and internationally. 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.”

The new agreement is effective immediately and Greg Norman Collection will continue to be managed and sold by its existing sales team.

Marketing Management Group (MMG) represented MacGregor Golf Company in the transaction. Financing has been provided by CIT.

About Greg Norman Collection
Built upon a unique combination of performance, luxury and style, Greg Norman Collection is a leading worldwide marketer of golf-inspired sportswear for men and women. Established in 1992, Greg Norman Collection is inspired by one of the world's leading golf professionals, the man they call “The Shark.” Reflecting his adventurous spirit and confident, independent style, the Collection captures Greg Norman's powerful elegance, enthusiasm and passion for an individual design sense.

About The Tharanco Group
The Tharanco Group, a leader in the apparel industry, guides a portfolio of acclaimed luxury brands and private label offerings.  The Group's first operating company was founded in 1998 and has since expanded under the guidance of founder and Chairman Haresh T. Tharani.

Over two decades of experience in management, brand building, cross-border businesses and global investments, has earned the company the title of "best in its class."  Their ongoing industry success story is told through the timely acquisition, transition and reinvention of esteemed brands such as Bill Blass, Poleci, Doo.Ri and Joseph A.