True Religion Apparel, Inc. (Nasdaq:TRLG) today announced the signing of two lease agreements to open new stores at NorthPark Center in Dallas, TX, and at The Americana at Brand in Glendale, CA. Both stores will carry the entire True Religion line of apparel.
“There are few malls bigger in square feet or fashion labels than NorthPark Center, and we chose this location for the union of architecture, design, art and high fashion, all of which attracted us to open a branded store in Dallas,” said Michael Buckley, president of True Religion Apparel, Inc. “We also chose Glendale for its appeal as the next big shopping destination for Los Angeles with the increasingly popular open-air retail shopping and urban living environments that Southern Californians gravitate toward. Given the initial success of our seven retail stores currently in operation, we believe the prospects for our retail expansion are stronger than ever.”
“We are pleased to announce our second location in Texas and an expanded presence in California with a sixth store now in Glendale,” said Jeff Lubell, chairman and chief executive officer. “Both locations strongly reflect our foray to open new stores in shopping malls, such as the recently opened store in Short Hills, New Jersey, where the upscale retail environment and variety of shopping choices create high foot traffic and excellent store sales. We look forward to bringing a truly unique retail experience to our customers that showcases the essence of the True Religion brand and the global, aspirational lifestyle it represents.”
Dubbed one of the seven wonders of the city by the Dallas Morning News and ranking in the Top 5 malls nationwide, NorthPark Center is located in the heart of the city’s business, commercial and transportation areas and draws more than 21 million visitors annually for the finest in luxury retail, market exclusives and runway fashion. Architects and designers originally constructed the mall with a city-within-a-city layout to devote space to display large works of art. NorthPark Management Co. owns and manages the super-regional shopping center and recently completed a $220 million renovation, adding 110 new stores and a 1.4-acre, landscaped central garden. The mall occupies more than 98 acres and is home to 205 retailers including Bottega Veneta, Burberry, Carolina Herrera, Cartier, Coach, Diesel, Giorgio Armani, Gucci, Hugo Boss, Intermix, Michael Kors, Juicy Couture, Ralph Lauren, Salvatore Ferragamo, and anchor stores Barneys New York, Nordstrom, and the highest-performing Neiman Marcus in sales volume in the country. The True Religion branded store will occupy 1,620 square feet and is scheduled to open in Fall 2007.
The Americana at Brand, the latest mixed-use retail and residential development in Glendale, CA, is a new, 15.5-acre retail and residential destination from Caruso Affiliated, the national retail developer touted for successfully creating open-air community and retail environments like the shopping and celebrity hotspot The Grove in Los Angeles’ Fairfax district. Glendale, 10 miles north of downtown Los Angeles, is known for its high-traffic downtown area with its vast array of shopping, dining and entertainment that attracts families and young professionals alike. The Americana center, bounded by Brand Boulevard, Central Avenue and Colorado Street, totals 475,000 square feet of premier retail space in a lush outdoor setting of manicured landscaping surrounded by stylish, high-end luxury apartments and condominiums. In addition to an 18-screen cineplex and a variety of restaurants, the development is expected to offer 75 retail shops and boutiques including Armani, Barneys, BCBG Max Azria, Juicy Couture, Lacoste, MAC and Marciano. As with all True Religion stores, the 1,425-square foot store will feature hickory-pecan wood panels, Asian-inspired accents and antique wood fixtures, as well as the company’s signature jean bar, and is scheduled to open in Spring 2008.
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.