True Religion Appar : True Religion Taps Pash Industries to Develop Full Line of Outerwear
01/10/2007| 08:00am US/Eastern
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.
© Business Wire 2007