True Religion Brand Jeans is an American clothing company established in April 2002 by Jeff Lubell and

Kym Gold Kym Gold is an American fashion and home design executive. She is the founder of Bella Dahl, Hippie Jeans, Babakul, and Style Union Home, and the co-founder of designer jeans brand True Religion. Gold's designs have been worn by David Beckham, To ...

and is based in

Vernon, California Vernon is a city five miles (8.0 km) south of downtown Los Angeles, California, the nearest separate city to downtown Los Angeles. The population was 112 at the 2010 United States Census, the least of any incorporated city in the state. I ...

Overview

True Religion brand

designer jeans Designer clothing is expensive luxury clothing considered to be high quality and haute couture for the general public, made by, or carrying the label of, a well-known fashion designer. Brands Designer clothing is not always created by the foun ...

are manufactured from premium

denim Denim is a sturdy cotton warp-faced textile in which the weft passes under two or more warp threads. This twill weaving produces a diagonal ribbing that distinguishes it from cotton duck. While a denim predecessor known as dungaree has been pr ...

they also make

Designer clothing Designer clothing is expensive luxury clothing considered to be high quality and haute couture for the general public, made by, or carrying the label of, a well-known fashion designer. Brands Designer clothing is not always created by the foun ...

. Some of which is made in the United States. In 2009, True Religion was sold in about 900 boutiques and specialty stores in 50 countries on six continents. In May 2021, the company owned 50 retail stores in 30 countries.

History

Unusually, the brand began with the 2002 production of about 14,000 pairs of jeans, being, the co-founder Lubell has remarked, contrary to the typical business model, in which "you make a sample line, go to market, get orders, and ship your production." The company adopted a business model in which everything was outsourced, depending on contractors "to do everything." Its

flagship store A flagship is a vessel used by the commanding officer of a group of naval ships, characteristically a flag officer entitled by custom to fly a distinguishing flag. Used more loosely, it is the lead ship in a fleet of vessels, typically the fi ...

opened in 2005, in

Manhattan Beach, California Manhattan Beach is a city in southwestern Los Angeles County, California, United States, on the Pacific Ocean, Pacific coast south of El Segundo, California, El Segundo, west of Hawthorne, California, Hawthorne and Redondo Beach, California, Red ...

. True Religion products are also sold at major

department store A department store is a retail establishment offering a wide range of consumer goods in different areas of the store, each area ("department") specializing in a product category. In modern major cities, the department store made a dramatic app ...

s, including Von Maur,

Nordstrom Nordstrom, Inc. () is an American luxury department store chain headquartered in Seattle, Washington, and founded by John W. Nordstrom and Carl F. Wallin in 1901. The original Wallin & Nordstrom store operated exclusively as a shoe store, and ...

Bloomingdales Bloomingdale's Inc. is an American luxury department store chain; it was founded in New York City by Joseph B. and Lyman G. Bloomingdale in 1861. A third brother, Emanuel Watson Bloomingdale, was also involved in the business. It became a div ...

Saks Fifth Avenue Saks Fifth Avenue (originally Saks & Company; Colloquialism, colloquially Saks) is an American Luxury goods, luxury department store chain headquartered in New York City and founded by Andrew Saks. The original store opened in the F Street and ...

. In November 2019, the company's former president Michael Buckley was appointed CEO, returning to aid in recovery from bankruptcy. Subsequently, Buckley re-hired designer Zihaad Wells as creative director, who had, in late 2006, resigned from

Levi’s Levi Strauss & Co. () is an American clothing company known worldwide for its Levi's () brand of denim jeans. It was founded in May 1853 when German-Jewish immigrant Levi Strauss moved from Buttenheim, Bavaria, to San Francisco, California, to o ...

in Europe to join True Religion, also at Buckley's request. Following two bankruptcy filings, in 2017 and 2020, the brand closed some stores. The company appeared to rebound in 2021, with sales topping $235 million.

2013 acquisition by Towerbrook

True Religion was purchased by

TowerBrook Capital Partners TowerBrook Capital Partners, L.P. is an investment management firm headquartered in London and New York City. TowerBrook spun out of Soros Fund Management in 2005 and became known for acquiring majority stakes in companies such as Jimmy Choo. M ...

on May 10, 2013. The acquisition provided shareholders a 52% premium to True Religion's share price on October 9, 2012. The stock had fallen 40% in 2012 up to October 9, 2012, due to a poor pre-Christmas sales in 2011, and concern that a shrinking number of shoppers were willing to purchase True Religion's high-priced jeans. ''

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...

'' 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 VF Corporation (formerly Vanity Fair Mills until 1969) is an American global apparel and footwear company founded in 1899 and headquartered in Denver, Colorado. The company's 13 brands are organized into three categories: Outdoor, Active and Wor ...

Ralph Lauren Corporation Ralph Lauren Corporation is an American publicly traded fashion company that was founded in 1967 by American fashion designer Ralph Lauren. The company is headquartered in New York City, producing products ranging from the mid-range to the luxur ...

, and

PVH Corp. PVH Corp., formerly known as the Phillips-Van Heusen Corporation, is an American clothing company which owns brands such as Tommy Hilfiger, Calvin Klein, Warner's, Olga and True & Co. The company also licenses brands such as Kenneth Cole New Y ...

had each more than doubled in value. Prior to the purchase, True Religion traded on

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

under the symbol TRLG.

Bankruptcies

True Religion filed for

Chapter 11 bankruptcy protection Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, wheth ...

on July 5, 2017, acknowledging that it had $534.7 million in liabilities and only $243.3 million in assets. It then announced the closure of 27 stores in the United States. In April 2020, the design company again filed for bankruptcy, closing 37 locations, resulting in a total of 49 stores remaining. The second bankruptcy was completed in November 2020, and the company was considered to have rebounded the following year.

References

External links