True Religion Apparel, Inc. (Nasdaq:TRLG) is proud to announce that it has signed a licensing agreement with Jacobs & Leslie Hsu Designs LLC, a leading designer and distributor of high-end handbags and small leather goods, to manufacture and sell True Religion branded handbags worldwide. The new handbag line will launch at the Project Show in Las Vegas in August 2007 and will begin shipping to retailers for Spring 2008.
Hsu Designs partner Leslie Hsu previously designed for brands Calvin Klein and Tahari, and recently licensed and launched UGG Australia® handbags, which have been featured at Neiman Marcus, Nordstrom, Barney’s, Henri Bendel and other premium retailers. “We were impressed with Leslie’s wide range of work and creative ability to embrace my vision and direction,” said Jeffrey Lubell, chairman and chief executive officer. “Her distinctive designs feature the most exquisite and exotic materials. We believe her natural talent at combining unique shapes and distinctive finishes will create signature pieces emblematic of the True Religion look that our customers will embrace.”
In addition to UGG Australia® handbags, Hsu, head designer, has launched several successful handbag collections, including TIBI and Kulson. Hsu’s eponymous collection of handbags, now in its fourth year of distribution in specialty boutiques, is a constant favorite with such celebrities as Madonna, Jessica Simpson, Sarah Jessica Parker, Britney Spears, Hilary Duff, Debra Messing, Paris Hilton and Nicole Richie, and her handbag creations have been featured in many movies and hit television shows.
“Leslie is one of the best names for premium handbag design in the industry today, and this new license agreement builds on our expanding categories of licensed products that showcase the potential of True Religion as an aspirational brand, while adding significant revenue and operating income,” added Michael Buckley, president.
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.