The Tharanco Group has added better knitwear manufacturer Joseph A. to its portfolio.
Haresh Tharani, chairman of Tharanco, a privately held company, bought the $150 million knitwear firm for an undisclosed sum and plans to make it into an international lifestyle brand.
Like Tharanco's other brands, which range from junior knit line Takeout to Doo.Ri, Joseph A. will continue to be run as a stand-alone company with founder Elan Eliau as chief executive officer. Tharani called Eliau "my partner," and all of Joseph A.'s staff is staying on at the brand's headquarters at 1410 Broadway in New York.
The big difference comes in the back office support, including production, which Tharanco will provide the company. The brand will go global, beginning with holiday 2008 and, for the first year, Tharani projects international sales will be 10 to 15 percent of Joseph A. volume. Special sizes will be another area for growth.
"We do a considerable sweater business, and we have tremendous synergies and can offer back-end and global support," Tharani said. "Joseph A. is a great brand, but only in the sweater category. We will build on its great customer awareness."
In the next few weeks, Tharani and Eliau will present a full plan for the company, which will include a timeline for expansion into other product categories. The company has already hired a new design director, Garfield and Marks veteran Peter Kye, who will replace Eliau's mother, Edith Eliau.
The brand will maintain its better positioning, wholesaling from $14 to $50 at stores, including Macy's. It will also continue with the TV commercials it has run for the past five years.
"With the Joseph A. brand recognition and customer loyalty, paired with his back-end support, we will be able to put Joseph A. in the best position possible," Eliau said. "That was my pure motivation."
"'Dynasty' is all about gowns, the diamonds and the scandal, so it's a bit like the fashion industry. When we come to Cannes it's all about the red carpet dresses too, so it all fit really well," said designer @philippplein78 on the theme of his high-glamour resort 2019 show at his mansion in Cannes. #wwdfashion #cannes (📷: @zefashioninsider)
"I think Spike is such a brilliant director because he holds up a mirror to society and reflects these issues, yet he doesn't shove it down your throat, he doesn't tell you what to think," says @lauraharrier on her latest film @Blackkklansman. Harrier was at the Cannes Film Festival – for the very first time – with @officialspikelee. #wwdeye #cannes (📷: @zefashioninsider)
“I would think to myself, Are you happy? Yes, I’m wildly happy. I go to this studio every day and, in my inside voices, I’m giggling; I’m singing. Yes, it’s a lot of work, it’s a [huge] volume of material. It wouldn’t be for everybody. But I was very happy,” said soap opera star @therealsusanlucci of checking in throughout the years with her career trajectory. Lucci spoke to WWD about her decades-long career, love for pilates, motherhood and her QVC activewear line. Read Bridget Foley’s full piece on Lucci on WWD.com #wwdfashion (📷: @celestesloman)
@balmain has taken a stand at the #cannes Film Festival, dressing 16 actresses at a press call for the project “Noire N’est Pas Mon Metier,” or “Black Is Not My Profession.” The multimedia project includes a book, photo exhibit and documentary, which aims to expose discrimination in the French and American entertainment industries. “The moment I was asked to participate, I knew it was right for me, and for this brand, to form a part of this moment,” Balmain creative director @olivier_rousteing told WWD. #wwdnews #wwdfashion
"I always feel curious and I feel like there's more to learn. But I think being relevant, feeling relevant, I personally always feel that there's just so much more to know. And maybe that's the key.” — @themarcjacobs #wwdsummits #wwdbeauty (📷: @patrickmacleodphoto )
“The most amazing thing about her is that, regardless of all the things that have happened to her, her spirit is so undaunted by all of it. She is the most cheerful person you will ever meet. She doesn’t see problems, she only sees solutions,” said @ajanaomi_king of activist Ifrah Ahmed, who she plays in a new film “A Girl from Mogadishu.” WWD caught up with King at Cannes — Head to WWD.com to read more about her new role, personal style and how she uses social media for causes like Time’s Up and Black Lives Matter #wwdeye
WWD asked a number designers to share their thoughts on what Meghan Markle’s wedding gown will look like this Saturday. Here, Valentino’s Pierpaolo Piccioli sketches his look. #wwdfashion #royalwedding #meghanmarkle