True Religion, a global lifestyle apparel and accessories brand, announced it is expanding its international presence in Asia, Africa, and the Middle East. New markets include India, Indonesia, South Korea, the Philippines, South Africa, Lebanon, and Qatar, bringing its total number of markets outside the United States to 26.
New stores will open throughout the Fall in cities including Mumbai, Jakarta, Manila and Johannesburg and Shanghai, Beijing and Seoul in the Spring.
“Global expansion into high growth markets, anchored by our expansion into China, remains a key strategy for us for the near future,” said Michael Buckley, chief executive officer of True Religion. “We are excited to work with our partners in these dynamic regions and are committed to delivering a premium brand experience to True Religion shoppers across the globe.”
True Religion announced in March 2023 its China expansion with Aurorae Group. The first of these new stores will open in Q1 of 2024 in Beijing and Shanghai, with more to follow in the second half of the year.
Store formats will vary by market, from dedicated boutiques ranging in size from 1000 to 1500 square feet to shop-in-shops. All stores will carry True Religion’s core collections for men and women, along with key items and a locally curated selection to appeal to specific market preferences. Some partners will also offer select wholesale opportunities to other multi-brand retailers in their regions.
True Religion was launched in 2002 in Los Angeles with its deconstruction of the classic five-pocket jeans. With its five-needle thread at the two-stitch-per-inch process, the brand’s T stitch was instantly recognised for its unique denim style, which found favour amongst athletes, musicians, and artists globally.
In July 2013, the brand was bought out by TowerBrook Capital Partners for $824 million. In August this year, the company’s financial partners announced that it would receive a new term loan and revolving credit facility from Second Avenue Capital Partners along with TCW Private Credit and Sagard Credit. According to a company release, these funds will be used to refinance the brand’s current debt, support its ongoing working capital needs and bolster long-term growth plans.
