Tharanco Lifestyles LLC, owner of the Greg Norman Collection, will announce today that it has reached an agreement to acquire Dunning Golf, a Toronto-based brand founded by cyclist and Ironman triathlete Ralph Dunning. Terms were not disclosed but Dunning will remain a partner in the company and will continue to design the collection, which is sold at high-end green grass pro golf shops and specialty stores.
“Ralph has really created a great brand,” said Michael Setola, president and chief executive officer of Tharanco. “It has a very premium position, is authentic and performance oriented. We have a lot of the same attributes with the Greg Norman brand, so there are a lot of synergies, but Ralph’s line is at the very top end of the golf market.”
Setola said Dunning’s line retails for around 25 percent more than Greg Norman Collection and is sold at Nordstrom, Bloomingdale’s and some better specialty stores outside the traditional golf channel.
Setola said Dunning’s line offers “a younger fit, is aspirational and engineered for performance.” The line also uses “super top-end fabrics,” he added, noting that, despite the cutting edge technology, the aesthetic remains very classic and saleable. “It is a great complement to our Greg Norman brand,” he said.
Dunning launched the Rip ‘n Hammer line of sports apparel in 1993 and has also worked with Saucony, GT Bicycles and Cervelo. Most recently, he opened a store in Toronto and has created collections for triathlon, cycling and running. He will continue to operate that end of the business, Setola said.
The deal with Tharanco is expected to close in the next 30 days.
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