True Religion (clothing brand)
 | |
| Private | |
| Industry | Clothing |
| Founded | December 2002 |
| Founders | Tremayne & Nicole & desireah |
| Headquarters | Manhattan Beach, California, U.S. |
Area served | Worldwide |
Key people |
John Ermatinger (Chairman & CEO) |
| Revenue |
 US$419.8 million (2011) |
|
$44.97 million (2011) | |
| Total assets |
$295.88 million (2010) |
| Total equity |
$249.03 million (2010) |
Number of employees | 2623 (December 2011) |
| Website |
www |
True Religion Brand Jeans is an American clothing company. Based in Vernon, California, the company was established in December 2002 by Jeff Lubell and Kym Gold.
True Religion Brand Jeans sell what they refer to as 'premium denim' which is handmade in America. True Religion has around 900 branded 'boutiques' and specialty stores in 50 countries on six continents.[1] The 'flagship' store is located in Manhattan Beach, California, and was their first retail store, opening in late 2005. True Religion products are also sold at major department stores like Von Maur, Nordstrom, Bloomingdales, Saks 5th Ave, as well as a handful of others.[2] Most of the brand's denim jeans are priced at approximately US$250 and up. As of fall 2014, the company's website shows a pair of women's leather pants priced just under US$900.[3]
Acquisition
True Religion was purchased by TowerBrook Capital Partners on May 10, 2013. That provided shareholders a 52% premium to True Religion’s share price on Oct. 9, 2012, the day before the company announced it was exploring strategic alternatives.[4] The stock had fallen 40% in 2012 up to Oct. 9, 2012, due to a poor Christmas period in 2011 and worries that a shrinking number of shoppers were willing to purchase True Religion's highly priced jeans.[5] Forbes magazine also noted that over the prior three years, True Religion shares had gained just 11.6% while shares in comparable luxury-goods companies VF Corporation, Ralph Lauren Corporation, and PVH Corp. had all more than doubled in value during the period.[5]
Prior to the purchase, True Religion traded on NASDAQ under the symbol TRLG.
References
- ↑ "True Religion Apparel, Inc.". Annual Reports. December 10, 2009.
- ↑ "Store Locator". Retrieved June 19, 2013.
- ↑ "True Religion website". Retrieved 10 September 2014.
- ↑ "PE Purchase". Retrieved January 8, 2014.
- 1 2 "When A Bullish Bet On True Religion Paid Off With A 24% Return". Forbes. 10 May 2013. Retrieved 10 September 2014.