(Filed Under wholesale Lingerie News). Christopher Scharff has resigned as CEO of DG Brands, the owner of the Dreamgirl and other brands. He has been replaced as CEO by Barry Revzen, an executive of China Partytime Culture Holdings Limited, a public company on the Hong Kong exchange.
Scharff originally acquired Dreamgirl about 14 years ago from Patricia Fischer, then built the company into a prominent player in sexy costumes and lingerie. About 18 months ago Scharff completed the sale of his company to a principal of China Partytime, a maker of costumes, wigs and intimate apparel. After selling the company, Scharff remained as CEO of DG Brands.
Revzen told BODY that he was originally a co-founder of China Partytime who then sold his half of the company, years before it then went public in 2015. Revzen then remained as an employee of the firm.
In an email to “friends and colleagues” on November 13, Scharff explained, “The intent of Dreamgirl’s new owners, and my intent as well, was for me to continue to shepherd the company over a period lasting up to three years and last week, the parent company and I decided to part ways due to divergent leadership interests.”
Scharff added, “Fortunately, I am leaving the organization in the hands of a very strong leadership team and am extremely optimistic about DG Brands’ future prospects. I must tell you that I feel an amazing sense of excitement as I start this new chapter in my life. As I look to the future, I am dedicated to making it positive and productive, although I will keenly miss the people and the stellar creativity and high-quality work we produced at Dreamgirl.”
Revzen told BODY, “People should know Christopher Scharff was a great guy, well loved. We all feel a lot for him. He has moved on. It is all good.”
Alma Canjura, EVP and COO of DG Brands added, “We are saddened to see the departure of Christopher as he has revolutionized the company under his leadership and dedication to the company for the past 14 years, but we know he will go on to do great things. Although this will be a large change for the organization, Dreamgirl has many exciting moments ahead with the launch of our newest lingerie and costume collections in the coming months.”
The DG statement said of Scharff, “Under his direction, he helped expand the company to be sold in over 2,000 retailer accounts worldwide and create an earning of $30 million in annual sales.”
It added that prior to his joining DG Brands, Scharff was the vice president for the BCBG Max Azria International Group and vice president international for the Movado Group, as well as an executive at Lanz, Inc., a business founded by his father in 1938.
In his email note, Scharff said, without providing detail, he was going to “start a new venture – one which I have been contemplating for past the year or two.” He added that, among other things, he would also “Devote more time to our family real estate holdings and become more actively involved both organizationally and philanthropically in helping the homeless in the Venice Beach area of Los Angeles. My family has been actively involved in Venice Beach for more than half a century and I hope to find a way to help others and honor the legacy of my father in the process. Engage in some important family planning matters which are pressing, but I have not had time to do. Consult with several private equity firms to turn-around some apparel brands. Help out my friends at Altitude however they would like.” — NM
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