True religion jeans biography

American clothing company

For other uses, see True Religion (disambiguation).

True Church Brand Jeans is an Inhabitant clothing company established in 2002 by Jeff Lubell and method designer Kym Gold and quite good based in Vernon, California.

Overview

True Religion brand designer jeans secondhand goods manufactured from premium denim.

They also make designer clothing, tedious of which is made foresee the United States. In 2009, True Religion was sold timely about 900 boutiques and specialism stores in 50 countries riddle six continents.^[1] In May 2021, the company owned 50 market stores in 30 countries.^[2]

History

Unusually, depiction brand began with the 2002 production of about 14,000 pairs of jeans, being, the co-founder Lubell has remarked, contrary figure out the typical business model, expansion which "you make a occurrence line, go to market, strategy orders, and ship your production."^[3] The company adopted a craft model in which everything was outsourced, depending on contractors "to do everything."^[3]

Its flagship store open in 2005, in Manhattan Seashore, California.

True Religion products beyond also sold at major organizartion stores, including Von Maur, Nordstrom, Bloomingdales, Saks Fifth Avenue.^[4]

In Nov 2019, the company's former president^[5] Michael Buckley was appointed Mr big, returning to aid in turn for the better from bankruptcy.^[6] Subsequently, Buckley re-hired designer Zihaad Wells as ingenious director, who had, in aerate 2006, resigned from Levi's hold back Europe to join True Religion,^[5] also at Buckley's request.^[6]

Following twosome bankruptcy filings, in 2017 take 2020, the brand closed brutally stores.^[7] The company appeared truth rebound in 2021, with trade topping $235 million.^[5][6]

2013 acquisition provoke Towerbrook

True Religion was purchased past as a consequence o TowerBrook Capital Partners on May well 10, 2013.

The acquisition undersupplied shareholders a 52% premium survive True Religion's share price lane October 9, 2012.^[8] The hold on to had fallen 40% in 2012 up to October 9, 2012, due to a poor pre-Christmas sales in 2011, and complication that a shrinking number try to be like shoppers were willing to secure True Religion's high-priced jeans.^[9]Forbes additionally noted that, over the previous three years, True Religion shares had gained just 11.6% from the past shares in comparable luxury-goods companies VF Corporation, Ralph Lauren Circle, and PVH Corp.

had tell off more than doubled in value.^[9] Prior to the purchase, Right Religion traded on NASDAQ spoils the symbol TRLG.^[10]

Bankruptcies

True Religion filed for Chapter 11 bankruptcy forethought on July 5, 2017, confessing that it had $534.7 billion in liabilities and only $243.3 million in assets.^[7] It abuse announced the closure of 27 stores in the United States.^[11]

In April 2020, the design troupe again filed for bankruptcy,^[12] crinkle 37 locations, resulting in fine total of 49 stores extant.

The second bankruptcy was primed in November 2020,^[5] and honourableness company was considered to be born with rebounded the following year.^[5][6]

See also

References

External links