True Religion
United States
True Religion is a Californian premium denim brand founded in 2002 by Kym Gold and Jeff Lubell. It sells designer jeans and related clothing through its own stores, department stores and specialty retailers. Current ownership is not confirmed in the sources reviewed, so no owner is named here.
| Founded | 2002 |
|---|---|
| Founders | Kym Gold and Jeff Lubell |
| Headquarters | California, United States |
| Segment | Denim and casualwear |
| Past owner | TowerBrook Capital Partners (from 2013) |
| Restructurings | Chapter 11 in 2017 and 2020 |
| Website | truereligion.com |
What is True Religion?
True Religion is a premium denim brand from California. It was founded in 2002 and became one of the best known names in the designer jeans category of the 2000s. Its headquarters is listed in different California locations in the source reviewed, so only the state is given here.
History
Kym Gold and Jeff Lubell launched the company in 2002 with about 14,000 pairs of jeans, using an outsourced production model. It was listed on NASDAQ in 2009 under the ticker TRLG. In May 2013 TowerBrook Capital Partners acquired the business and took it private, at a premium of 152 per cent to the October 2012 share price.
The company filed for Chapter 11 bankruptcy in July 2017 and closed 27 US stores. It filed a second time in April 2020, closing 37 locations and leaving 49 stores, and that process was completed in November 2020. Michael Buckley, a former president, returned as chief executive in November 2019.
Products and positioning
The brand focuses on premium jeans and other designer clothing, some of it made in the United States. It sits in the premium segment rather than the luxury segment.
Business model and distribution
- Own retail: a flagship opened in Manhattan Beach, California, in 2005, and about 50 stores in 30 countries were reported in May 2021
- Wholesale: about 900 boutiques and specialty stores in 50 countries were reported in 2009
- Department stores such as Nordstrom, Saks Fifth Avenue, Bloomingdale's and Von Maur
Why it matters
True Religion shows both the strength and the fragility of the premium denim boom: rapid growth, a public listing, private equity ownership and two restructurings. Sales were reportedly above 235 million US dollars in 2021, according to the source cited below.
Frequently asked questions
Who founded True Religion?
True Religion was founded in 2002 by Kym Gold and Jeff Lubell. The brand launched with about 14,000 pairs of jeans.
Is True Religion a luxury brand?
True Religion is better described as a premium denim brand than a luxury one. It sells designer jeans through its own stores, boutiques and department stores.