Ginch Gonch Fashion Acquired By Montreal Funding Corporation, New Equity Capital

    MONTREAL, July 24 /CNW/ -- New Equity Capital, the Montreal based equity
funding corporation founded by Herschel Segal and Josh Ronn, announced today
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.(Photo: http://www.newscom.com/cgi-bin/prnh/20080724/NYTH084 )"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.

    For a sneak peak at some of the fun new designs, visit GinchGonch.com.Contact:  Jeff Dorta, Project Publicity, NYC: 212-445-0099
              [e-mail]/NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
    the CNW Photo Network and archived at http://photos.newswire.ca.
    Additional archived images are also available on the CNW Photo Archive
    website at http://photos.newswire.ca. Images are free to accredited
    members of the media/

For further information: Jeff Dorta of Project Publicity,
[phone], or [e-mail] Web Site:
http://www.GinchGonch.com