NEW YORK, March 10, 2011 /PRNewswire/ -- Total Apparel Group, Inc. ("TAG" or the "Company") (OTC Pink: TLAG), a licensing, merchandising and distribution company focused on bringing national and international brands to the North American marketplace, announced today that it has added veteran industry leaders Robert Lineburg as President of TAG's wholly owned subsidiary Kappa North America, and Jeff Sirchio as Chief Operating Officer, respectively. Their combined 60 years of apparel industry expertise will significantly enhance both TAG's brand equity and business acumen, and position the Company for further pursuit of immediate market share.
"We are extremely excited to welcome Bob and Jeff to the team and look forward to tremendous growth under their leadership," stated TAG Chief Executive Officer Janon Costley. "Their combined experience and expertise will significantly strengthen and prepare our company to navigate and succeed in this unique business environment."
Robert Lineburg, Division President, Kappa North America
Robert brings more than 30 years of retail industry experience and was previously the CEO of children's apparel company Keystone Apparel. He is responsible for overseeing the sales and production-related activities for TAG's most important operating division and implementing strategies that are consistent with the Company's overall business objectives.
Jeff Sirchio, Chief Operating Officer
Jeff Sirchio has an extensive 20-year background in retail and manufacturing, and is responsible for managing and directing the Company toward its primary objectives, based on profit and return on capital by overseeing the TAG's day-to-day operations.
Mr. Costley added, "As we continue to expand and look for new opportunities, we are confident that the void created by the bankruptcy of Global Brands Group, the master licensee of FIFA branded merchandise, will not be an impediment to the future growth of TAG. Adding new management is one of the key steps we will take to increase our sales revenue in other areas that will hopefully offset the loss of anticipated revenues from the Active Apparel Group division."
As part of its restructuring process, the Company has, by action of the Board of Directors and by written consent of approval of same by shareholder(s) holding at least a majority of the shares needed to approve same, as of March 3, 2011, approved a 1 for 150 reverse stock split of its issued common stock, to go into effect on March 4, 2011. This is in conjunction with an increase, also approved by the Board of Directors and similarly, as aforesaid, by the shareholders by written consent, of the Company's authorized shares of common stock to the number of: 1,900,000,000. This action will enable the Company to continue its near and long term growth strategy.
To be added to the Total Apparel Group, Inc. investor email list, please send an email with TLAG in the subject line to firstname.lastname@example.org.
About Total Apparel Group, Inc.
Total Apparel Group, Inc. (OTC Pink: TLAG) (www.tapginc.com) is a licensing, distribution and merchandising company focused on bringing national and international brands to the North American marketplace through strategic licensing and distribution agreements with partners who have existing brand recognition and the ability to develop, design and manufacture products. TAG is currently a licensing and distribution partner for several internationally known lifestyle apparel, shoe and accessory brands. http://tapginc.com
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and relate to future events, including, without limitation, our future financial performance. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Such forward-looking statements may be identified by terminology such as "intend," "should," "expect," "may," "plan," "anticipate," "believe," "estimate," "project" or "predict," and the negative and variations of such words and comparable terminology. You should not place undue reliance on these forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond our control. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions. Except as required by applicable law, we assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons why actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
SOURCE Total Apparel Group, Inc.