(Filed Under wholesale Lingerie News). Dreamgirl has been acquired by Barry Revzen, who has been CEO/president for almost three years, along with Alma Canjura and Fernando Garcia (long time employees) who are now partners in the company.
Revzen is the majority shareholder and has plans to greatly expand the company. The firm was most recently owned by a Chinese investor, Frank Chen. The selling price was not disclosed.
“Over the past three years, my team and I have worked hard to bring Dreamgirl back to profitability and position it for growth. Despite the challenges of the pandemic, we have more than accomplished that goal. So, when I had the opportunity to buy the company, I jumped on it,” said Revzen. He added that Dreamgirl will continue to operate as usual.
“Even though this is a 42 year old company, the best years are ahead of it. Lingerie and costume sales are growing. Profitability is rising. And our new initiatives in sleepwear, foundations and private label are already taking off.”
Revzen, who has been in the apparel industry for over 40 years, has extensive experience in Asia. “I lived in China for more than 12 years, and I have personally visited hundreds of lingerie and costume factories all over Asia. I have actually contracted production with dozens of those factories. My team also has tremendous experience both in America and in China. We know where to find the best producers in each apparel category, along with the best pricing. I have a team of six people in China who are great at what they do and Ms. Albe Li, who heads up the China office, has worked for me for over 12 years now.”
Founded in 1978 by Patricia Fischer, Dreamgirl was acquired by Christopher Scharff in 2003. He built the company into a lingerie and costume giant in the first decade of the millennium, with annual sales peaking at $44 million in 2009. The financial crisis and changes in the costume industry led to declines in that category, and Scharff eventually sold the company, departing in 2017.
“Christopher greatly expanded Dreamgirl during his years, and helped make it a name known the world over,” Revzen noted. “Now we plan to take this gem of a business and make it into a true powerhouse of the industry.” — NM
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