SOURCE: Total Luxury Group, Inc.

July 06, 2007 14:52 ET

Total Luxury Group, Inc. Announces Top Management Changes

Janon Costley to Act as Interim Chairman of the Board of Directors and Dennis Sinclair Appointed as Interim CEO

NEW YORK, NY--(Marketwire - July 6, 2007) - Total Luxury Group, Inc.'s (PINKSHEETS: TLEI) Board of Directors has named COO and President of International Apparel Group, Inc., Janon Costley, to act as the Interim Chairman of the Board of Directors, and appointed Dennis Sinclair as Interim CEO. Each shall serve in such capacity until the company's year end audit is completed and a Shareholders meeting is held to elect a new slate of Directors, including replacements for the recently deceased director Samuel Hughes, and for Sandy Masselli, who has officially resigned from the Company.

Mr. Costley, the Company's Chief Operating Officer, and President of Apparel Operations, will take over the position of Interim Chairman immediately, replacing Robert Bonnell, who had previously been serving in that capacity since the resignation of Sandy Masselli. Bonnell shall remain on the Board of Directors.

Mr. Sinclair brings a wealth of corporate and public company experience to Total Luxury Group, Inc. and is well suited to lead the company on an interim basis through this transitional period. Sinclair will immediately assume executive responsibilities for the Company, including bringing all filings up to date and seeking new financing for expansion of the Company's apparel operations.

ABOUT DENNIS SINCLAIR

For more than thirty years, Mr. Sinclair has created corporations, directed their development, and nurtured their successes through the application of his dynamic management techniques and financial expertise. He has also been an analyst, professor at several universities, and an investment banker.

Mr. Sinclair earned his Ph.D. in Economics and Sociology from the University of Michigan, Ann Arbor, Racham School of Graduate Studies, and his M.A., with honors. He also received his B.A. from the University of Michigan, Ann Arbor as well. Prior to joining Total Luxury Group, Inc., Mr. Sinclair's most recent position was Chief Executive Officer of VirtualSellers.com, Inc. As CEO of VirtualSellers.com, Inc. Dennis raised capital, acquired the company, sold assets, reorganized, re-listed, and rebuilt the company. Under Sinclair's supervision, VirtualSellers.com, Inc. developed into Healthtrac Corporation, a health promotion company. Healthtrac's goal is to reduce health risks and extend the participant's healthy years by promoting behavioral changes.

Mr. Sinclair has also served as an analyst and Senior Analyst at Securities America and H. J. Meyers, as well as a senior executive at companies such as Validyne Engineering Corporation (Northridge, California), Myocure, Inc. (Burbank, California), Lexar (United Technologies), and Central Corporation, which is now WorldCom, where Dennis served as President and CEO. In addition, Mr. Sinclair's experience includes providing general management consulting, private placements, strategic planning, project management systems, and task group facilitation for clients such as Computer Science Corporation, Getty Oil, Hughes Aircraft, Kaiser Cement, Mattel, Network Research, Standard Communications, Textron, TRW, and United Technologies.

Finally, Mr. Sinclair's faculty positions have included those with the MBA program at the University of California - Los Angeles Graduate School of Management, the University of Redlands, Pepperdine University, and the University of Michigan, Ann Arbor.

About Total Luxury Group, Inc.

Total Luxury Group, Inc. 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. In May 2006, Total Luxury Group, Inc. acquired International Apparel Group, Inc., an apparel holding company that through its subsidiary companies manufactures and sells apparel to major retailers and distributors around the world.

Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that involve substantial risks and uncertainties. When used in this press release and in any documents incorporated by reference herein, the words "expects," "will" and similar expressions identify certain of such forward-looking statements. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of management and are subject to a number of risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company's control. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive, and other factors affecting the Company and its operations; and other risk factors. TLEI cautions that the foregoing factors are not exclusive. TLEI assumes no obligation to update the information contained in this press release.

Contact Information

  • CONTACT:
    Total Luxury Group, Inc.
    MIAMI, FL
    (305) 892-6744