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Montreal Funding buys Ginch Gonch apparel brand

25
Jul '08
New Equity Capital, the Montreal based equity funding corporation founded by Herschel Segal and Josh Ronn, announced they have acquired the Vancouver based apparel company, Ginch Gonch, and have moved its headquarters to Montreal.

Naomi Ronn is Ginch Gonch's new President and CEO. Jason Sutherland, founder of the four-year-old brand popular for its bold and youthful designs, will remain as Ginch Gonch's Creative Director.

"Ginch Gonch is an innovative brand with a devoted niche following that we aim to launch to the next level," said Herschel Segal at this afternoon's announcement. Segal's firm, New Equity Capital, specializes in funding companies in industries he is familiar with.

As founder and former CEO of the publicly traded clothing chain Le Chateau, Segal knows the apparel industry. He believes the so-called fun-derwear (men's underwear briefs featuring playful designs) industry of which Ginch Gonch dominates is ripe for mainstream appeal.

"The demand is there," continued Segal. "Ginch Gonch merely needed the capital and expertise of proven fashion techniques."

Jason Sutherland founded Ginch Gonch in the summer of 2003. With its protest against boring white underwear and its "Live like a Kid" motto, Ginch Gonch quickly grew into one of the hottest premium underwear brands worldwide.

"Ginch Gonch has always been about having fun," confirmed Jason Sutherland from his new office headquarters in Montreal.

"New Equity Capital and its leaders are committed to continuing Ginch Gonch's edge while also improving on its already top-notch construction."

Prior to her new role as President and CEO of Ginch Gonch, Naomi Ronn launched and managed two apparel brands, Climawear and KnowMe, at the textile trading company, Domestic Converters, where she remains President.

"I am thrilled to lead the next generation of Ginch Gonch," says Ronn, "We have assembled the best team in the apparel industry. Together, we will re-define active wear."

Ginch Gonch will unveil its fall 2008 men's underwear collection, Load'n & Dump'n, featuring dump trucks, this summer.

The company will also re-launch its women's and children's lines; and re-issue past design favorites as part of Ginch Gonch's expanded active wear collection.

Ginch Gonch


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