US's Mike LaCasella invests $25 mln in India's Huit Angles label

New Delhi, July 20 (UNI) American businessman Mike LaCasella today announced an initial investment of five million dollars in Huit Angles, an Indian design label, for the sale and international marketing of the brand.

An additional investment of 20 million dollars has been earmarked for establishing Huit Angles boutiques in major fashion capitals of the world, from 2009 onwards.

The initial 5 million dollar investment will be made in Huit Angles Inc, US, of which 80 per cent will be owned by Huit Angles founder Sunny Mishra and Creative Director and President Kapil Modi, and 20 per cent (with an option to increase up to 50 per cent) will be owned by Mr LaCasella.

''I am thrilled to be a part of this unprecedented venture, and I am confident that in the times to come, Huit Angles will be a name to reckon with,'' Mr LaCasella said.

The first international collection will be showcased to a select clientele in Milan, Paris and New York in the third quarter of 2007.

The Indian collection will be launched in Delhi by July-end this year, for the elite Indian woman.

Mr LaCasella's corporate experience spans senior management positions with leading US corporations, such as FileNet, the largest global ECM solution provider, and Earthlink, a leading US ISP. While at Earthlink, Mr LaCasella established international customer support centres across Europe and Asia, and also helped a start-up BPO in India.

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