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Total Luxury Group completes International Apparel Group merger

23
May '06
Growth capital provider Total Luxury Group Inc and International Apparel Group Inc are pleased to announce the completion of their merger.

As a result of the transaction, the apparel holding company known as International Apparel Group Inc, including its apparel licenses and private label production, is now a wholly owned subsidiary of Total Luxury Group Inc.

Total Luxury Group CEO Sandy Masselli stated, "We are very excited about this deal and the future of our company. Our acquisition of International Apparel Group provides us with worldwide sourcing and manufacturing capabilities that can be utilized by all of our divisions. It also gives us the opportunity to now aggressively seek apparel acquisitions and licenses because we know we can produce and deliver quality apparel and accessories at very competitive price points."

IAG President Janon Costley added, "In addition to expanding our existing properties, we have already identified several potential acquisition targets and brand name licenses that will enable Total Luxury Group to become a major competitor in a all major segments of the US apparel industry for years to come."

Both companies received approval for the acquisition from their respective Board of Directors. Following this transaction, the company intends to actively implement a growth strategy through additional acquisitions and licensed programs.

Total Luxury Group Inc, which currently holds a distributorshipagreement for MCM, AG, has been seeking additional opportunities within the consumer products industry, for acquisition of companies that have a proven management team, and desirable products or services.

International Apparel Group Inc is an apparel holding company that through its subsidiary companies manufactures and sells apparel to major retailers and distributors around the world.

Total Luxury Group Inc


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