In a move to further expand its lifestyle collection, True Religion Apparel, Inc. (Nasdaq: TRLG) today announced it has signed a licensing agreement with Pash Industries to manufacture and sell True Religion branded clothing and leather outerwear for men, women and kids.
Pash Industries is the parent company for multiple brands including Ramosport US, Pasha and Jo, Tryst New York collections and Frenchcoat. Pash Industries ranks among the top fashion outerwear marketers and has earned an enduring reputation for innovation, superior quality and serious style in an increasingly competitive outerwear market. From classic, timeless trenchcoats to trend-driven, fashion-forward looks, Pash Industries is one of the few outerwear resources selling to all of the top U.S. retailers including Barneys New York, Bergdorf Goodman, Bloomingdales, Neiman Marcus, Nordstrom and Saks Fifth Avenue, as well as to select specialty stores throughout the United States and in Canada. Pash Industries has licensed the worldwide rights to manufacture and sell True Religion branded leather and outerwear, including leathers, shearlings, downs, wools, cotton twills, washed cottons and cotton canvas. The new outerwear line is expected to launch in February 2007 and is anticipated to begin shipping to retailers in July 2007.
“Pash has an unmatched track record of many successful years in the highly specialized business of designing outerwear,” said Michael Buckley, president of True Religion Apparel, Inc. “They have developed an almost second-nature insight in executing design, merchandising and sales strategies that are truly unique and sellable.”
“Pash makes an amazing line of products, and we received glowing endorsements when we began our search for an outerwear partner,” said Jeff Lubell, chairman and chief executive officer. “Pash has a passion for premier, innovative design coupled with an acute business acumen enabling them to respond to regularly changing retail preferences, from wool to down to leather, by identifying and offering what customers are looking for season after season.”
In November, True Religion signed its first-ever licensing agreements for True Religion branded footwear, headwear, scarves, and gloves. GMI Corporation licensed the worldwide rights to manufacture and sell True Religion branded men’s and women’s shoes, sneakers and boots, as well as sandals in both adult and children’s sizes. Paramount Apparel International, Inc., will design, develop and market the company’s original branded headwear, scarves and gloves. These new products are expected to be launched at the MAGIC apparel show in Las Vegas in February 2007.
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.