Home / Knowledge / News / Apparel/Garments / TLEI to terminate licensing agreement with Pizza Cono
TLEI to terminate licensing agreement with Pizza Cono
14
Mar '08
Total Luxury Group Inc is also pleased to announce Mr. Don Jones as the new Chairman and CEO. Mr. Jones, who was recently appointed Chairman of the board of directors, will now also assume the duties as the company's new CEO replacing interim CEO Dennis Sinclair.

As a result of the recent Petals acquisition and the recent change in management, the company has also decided to discontinue the licensing agreement with Pizza Cono and has opted not to pursue that line of business in the near future.

In connection with this decision, the company has come to a mutual agreement and understanding with Cono Italiano, LLC to sever all ties related to Pizza Cono and all ongoing related business concerns.

Based on prior agreements with Cono Italiano, the Company previously announced a plan to restructure, which would have included the spin-off of its apparel operations, including its subsidiary, International Apparel Group Inc, and the registration of its shares for trading as a separate public company.

After months of deliberation and based on recent developments, the company has opted to put those plans on hold in order to focus its efforts on growing the current apparel operation, completing the integration of Petals and analyzing future potential acquisitions, licenses and growth opportunities in related areas of business.

Chairman and CEO Don Jones stated, "In connection with the restructuring of the company and based on our new business model, which is focused solely on apparel and home decor, we think this decision is the most viable way to maximize shareholder value."

Total Luxury Group Inc


Must ReadView All

'Sportswear is much more mainstream than earlier'

Fashion | On 20th Jul 2018

'Sportswear is much more mainstream than earlier'

The business of sportswear has evolved at a fast pace over the years. ...

Courtesy: YKK

Textiles | On 20th Jul 2018

Japanese firm YKK explores opening office in Uzbekistan

Japanese company YKK recently discussed with the Uztuqimachiliksanoat ...

HFPA alerts member firms on latest US tariff announcement

Textiles | On 20th Jul 2018

HFPA alerts member firms on latest US tariff announcement

The US Home Fashion Products Association (HFPA) has alerted its...

Interviews View All

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search