Dome on acquisition trail
The acquisition of the nine-year-old brand from sisters Petra and Angelique Delaney, takes to four the number of brands operated by the group which also owns and operates swimwear brands Aztec Rose, Cheetah and Zini.
The deal, believed to have been brokered by Stenton Capital's Rob Hartman, was formalised last week for an undisclosed sum.
It is understood the acquisition is a strategic move to extend the Dome Exchange stable to satisfy the department stores' interest in Australian surf fashion brands and that further acquisitions may be likely.
However, Dome CEO Haresh Bhojwani, who acquired the Dome Exchange business in November, would say only that the decision to purchase Startlet was driven by the "obvious synergies" between the businesses.
Bhojwani said the group had plans to grow its surf apparel and swim offering from day one and would add to Dome's $8 million annual turnover.
The opportunity to purchase a recognised brand would only serve to fast track the group's growth, he said.
Since its launch in 1998, Starlet has grown to an established retail account base of around 200. In its glory days the brand, targeted at females aged between 14 and 25, previously exported to New Zealand, Tahiti, Asia and the United Kingdom however at the time of acquisition was only supplying domestic stockists.
Angelique Delaney, who will stay on board at Starlet as senior designer and will also manage the Aztec Rose design team, said the brand's strong position in the market had been credited to her and her sister's understanding of the "unique needs" of the female surf apparel market.
"Petra and I know that Starlet will get a good shake-up at Dome Exchange and all importantly; a desperately needed cash injection. This will immediately reflect on Starlet's product pricing structure and its marketing profile."
Dome group marketing manager Casey Weathers said the Starlet operations would be transferred to Dome's office and warehouse in Alexandria to ensure minimal disruption to existing account holders.