NEW YORK — The Tharani Group, a company that lists Bill Blass Ltd. and The Resource Club Ltd. among its properties, has signed a joint venture agreement with Dalil Fashions to become partners in its Scarlett moderate dress and sportswear division.
As part of the deal, Richard Sims, president of Scarlett, and Stephen Montifiore, chief executive officer of Scarlett and Dalil, will maintain their posts. They are now partners along with Haresh Tharani, chairman and ceo of the Tharani Group, in the new venture.
Scarlett, a 20-year-old operation, will continue to be based in its own offices on the 28th floor at 1400 Broadway here, which is also where the Tharani Group is located. Tharani said Scarlett’s workforce will be maintained.
Tharani said he aims to increase Scarlett’s $40 million annual sales by at least 30 percent within the next two years or so. Increasing advertising, broadening distribution and improving the product’s quality are all part of his plan. The Tharani Group expects to parlay its ties with existing accounts to build Scarlett’s retail distribution, Tharani said.
“We’ve known them for a while,” he said. “Their design is excellent and they’re very team-oriented.”
Montifiore said in a statement that by “tapping into the sourcing, as well as strong retail relationships” established by Tharani, “we can continue to offer our quality products in a shorter turn-around time and at the right price in this competitive market.”