True Religion Apparel, Inc. (Nasdaq:TRLG) today announced the signing of a new lease agreement to open a branded store in San Jose in Northern California. The 1,932-square foot store will carry the entire True Religion line of apparel, including Men’s, Women’s, and Kid’s denim jeans, jackets, shirts, T-shirts, skirts, fleece hoodies and pants, knits, wovens, loungewear, footwear, headwear and outerwear.
The True Religion store is expected to open in Fall 2007 at the Valley Fair shopping center, which is the top enclosed mall in Northern California and one of the top five malls statewide in sales volume. Located in the heart of Silicon Valley, the super-regional shopping center recently completed a two-tiered, $165 million redevelopment to position it as the largest collection of specialty retailers in Northern California. As the mall of choice in Northern California for luxury and contemporary sportswear, Valley Fair has more than 260 stores including anchors Bloomingdale’s, Neiman Marcus and Nordstrom, as well as Apple, Coach, Juicy Couture, Lacoste, Louis Vuitton and MAC.
“This new lease agreement comes on the heels of our recently signed lease to open a True Religion store in Corte Madera and will be our second foray in Northern California,” said Michael Buckley, president of True Religion Apparel, Inc. “San Jose is home to some of the biggest high-tech companies, and we are excited to add to our retail store base by locating in Silicon Valley. We believe our retail store initiative will provide an excellent means to showcase the entire True Religion collection, including denim, sportswear and licensed products. At our pace, we will exceed our previous plan of having 11 stores up and running by the end of the year.”
About True Religion Apparel, Inc.
True Religion Apparel, Inc. is a growing, design-based premium global lifestyle brand. The company designs, manufactures and markets True Religion Apparel products, including its premium True Religion Brand Jeans. Its expanding product line, which includes high quality distinctive styling and fit, may be found in premier department stores and boutiques in 50 countries including the United States, Canada, Germany, United Kingdom, France, Spain, Scandinavia, Greece, Italy, Mexico, South America, Australia, South Africa, the Middle East, Korea, Japan, and China. For more information, please visit www.truereligionbrandjeans.com.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including uncertainties as to the nature of the apparel industry, including changing customer demand and tastes, seasonality, customer acceptance of new products, the impact of competitive products and pricing, dependence on existing management and general economic conditions. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.