True Religion Apparel Inc (NASDAQ: TRLG), the top US jeans maker, announced Friday that it has agreed to accept the acquisition of private-equity firm TowerBrook Capital Partners LP at a deal price of about $ 835 million.
Under the terms of the agreement, TowerBrook will pay $ 32 cash per share for True Religion shares, which is about 9% higher than the Thursday’s closing price of $ 29.44, compared with October 9 last year, the company announces a 52% The
The transaction has been approved by the True Religion Board of Directors and is subject to approval by the shareholders of the company.
True Religion was founded in December 2002 and headquartered in Los Angeles, where its jeans are 100% manufactured and handmade in US dollars between $ 172 and $ 363, most of which is between $ 250 and $ 300.
The company has about 900 boutiques and specialty stores in 50 countries on six continents, and its flagship store is located in Manhattan Beach, California, and its first retail store, opened at the end of 2005. In addition, the company’s products are also sold in major department stores. Charlie – Ceron, Jennifer – Lopez and Madonna and other stars are True Religion products fans.
Before the advent of Valentine’s Day in 2015, True Religion brand to the most classic high-end Super T sewing interwoven technology to create Dean, Geno, Joey Flare tannin series, as this year’s Valentine’s Day gift of the best recommendation, Super T at this time On behalf of the romantic, delicate and eternal intertwined meaning. Whether it is to give you his or her or as a lovers, are the best choice for Valentine’s Day this year, True Religion Super T Tannin series is representative of the grade, status and status of the ultimate symbol. True Religion from the 2002 launch of the brand has been a lot of Hollywood and national men and women star sought after, from its superb handicrafts, body sculpting effect, and even began in its logo and name to show the personality.
True Religion to bring you / you are the most classic brand MUST HAVE tannin goods: on behalf of romantic, refined and eternal love witness. Men’s Dean Cone-shaped narrow tube turn tannins pants, handsome and tangible, pants flanging to wear the law so that gentlemen can wear very casual, but very taste. Men’s Geno straight Slim tannins, upper body comfortable and durable, washed white + cat to be modeling, classic generous. Straight self-cultivation style, more fit leg shape, classic five pocket design. Female models Joey Flare oblique suture and trumpet trousers can make the legs look slender, to achieve a good self-cultivation effect; buttocks buckle pocket design can let the buttocks have narrow and alteration of visual effects, which is True Religion The magic of jeans.
Super T sewing interwoven technology is to True Religion and other brands to distinguish one of the elements. Super T Sewing Interleaving is a sewing method that uses a six-stranded suture per inch and is unique to True Religion. This sewing method presents a clear and unique style, is currently the most representative of the brand logo one of the masterpieces, other brands can not provide and replace. True Religion invented Super T sewing interweaving technology and has patented its technology. Super T sewing interwoven technology using multi-strand suture, suture intertwined color is also very rich. Despite the use of a similar “anti-trademark” approach, dilute the brand logo, low-key but obviously can feel it different.
Joan Smalls Joel Moss x True Religion (referred to as JS X TR) is personally designed by Joan Smalls, and is the first time in her history, this 2015 autumn and winter concept series is the second of this series, Inspired by Joan Smalls own off-duty style (off-duty style), the concept is “the street is your T station”, so that women boldly show themselves, confidently show the fashion wear on weekdays self-style.
From the daily dress outline into the bold eye of the elements of this series is 18 single product basis, to the classic style, into the street shooting fashionable attitude, Joan Smalls design appeal dazzling but not fade popular. From leather jeans on the details of the stitching, to the shirt with the design of yarn, or fashionable diving fabric of a single product, this series use a variety of fabrics, play their texture to play a variety of possibilities.
All the details of the design of the single product are showing Joan Smalls personally involved in the fashionable taste, such as handsome copper alloy zipper appears in many single products to show supermodel eye-catching side, and her world famous slim legs tips here Series to share, she chose the inside suture longer leggings cut, pull the proportion of high legs, wearing more slender and slender. Series and bring her childhood favorite animal peacock, for example, two sweater are this bold gorgeous animal totem modern interpretation of magnificent rainbow mood, from the beautiful peacock feathers in the “tall and straight” supermodel attitude.
The United States top tanning brand True Religion will be held on August 8, 2008 in Shenyang Vientiane City opened. Shenyang Vientiane City is located in the core area of Shenyang Golden Gallery, advocating the concept of international consumption, a collection of brand retail, specialty catering, entertainment and leisure functions in one. True Religion chose to enter the Vientiane City in Shenyang also because of the same business philosophy.
True Religion Shenyang Vientiane City boutique, located on the 2nd floor, including sales of men’s and women’s series, boutique size of 80 square meters, True Religion United States and China team in cooperation with each other to develop True Religion Vientiane geometric space design blueprint , To create a modern neat space, so that consumers have a home away from the consumer space, space color combination is another person has a relaxed and comfortable feeling. Shenyang Vientiane City True Religion boutique is the domestic True Religion’s fifth boutique. In addition, Shanghai, Beijing, Nanjing, high-level shopping malls also have True Religion specialized boutiques.
True Religion brand spirit respected brave, warm, different, fearless and self-styled culture. True Religion challenges the production process of ordinary tannins over the past century, with high quality tannins, a variety of handicrafts, both in the suture or tailoring, hand washing and dyeing techniques are unable to replace the production of the top tannins Cumbersome process. True Religion high quality super self-cultivation effect and unique style, to attract the attention of top customers.
Private equity fund company Towerbrook Capital Partners LP thought the acquisition of the US high-end denim apparel brand True Religion Apparel Inc. (TRLG) in the niche market gains, but unexpectedly ushered in the global high-end retail market slowdown or even stagnant, and brand Owned by the cowboy industry is also a positive movement of the world popular, Towerbrook can only sigh the transaction is untimely, the Fund is now reported to have begun to contact consultants for the cowboy brand continued to decline sales to find a way out.
Towerbrook has contacted Maéva Group LLC, a former head of the fund, and Harry Wilson has helped the electronics retailer, RadioShack Corp., revived and is also a member of the General Motors Company (NYSE: GM) General Motors Corp. (NYSE: GM), according to Reuters, Bankruptcy protection reorganization of the US government working group members.
According to no fashion Chinese network data, the transaction price of a total of 835 million US dollars, or 32 US dollars per share. After the deal is completed, Towerbrook will appoint David Conn as the new CEO for the brand, David Conn has served VF Corp. (NYSE: VF) Weifu Group as the retail agent brand president, Weifu Group owns Lee, Wrangler two Cowboy brand.
However, in the unfavorable situation of sales continued to decline, David Conn has been deceived in 2015, John Ermatinger replaced it. John Ermatinger has served as chief executive officer of Tommy Hilfiger Asia Pacific, president of Gap Inc. (NYSE: GPS) Pacific Group, PHV Corp. (NYSE: PVH) Group, as well as local brands Li-Ning Li Ning and Daphne Daphne Senior Consultant (mainly by the two Chinese retailers, private equity fund TPG Capital Asia Trader), in the cowboy industry has deep experience.
2002 from the United States True Religion brand was born, described a unique young American Jeffery Lubell entrepreneurial story. As early as the boyhood, living in New York, he often own hands to transform his broken tannins, such as bleaching bell pants on the edge of the pants, or leather or other materials such as modified tonic composition of the world is unique and belong to his tannins works. He will be rock music album cover image painted on the jacket, even with hand embroidery to decorate the pattern, creating a self-personality and style of tannins single product. “That’s the starting point for me to create the top daning journey and dream,” says Jeffery Lubell, founder of the True Religion brand. Prior to the July 4th day of the United States, True Religion was selected at the W Hotel in the United States, Beijing – to celebrate the American Day and the glorious brand culture of the appreciation of the day, and prepared a fine American Barbeque party, so that we know more True Religion Dan Ning brand essence.
California’s tannery industry elite Jeffery Lubell in addition to the creation of True Religion, but also gives the new meaning of tannins. Continuation of the early tannins and cowboy lifestyle close to the background, with the evolution of time and history, Jeffery Lubell to “Made in America” DNA, the brand is more respected brave, warm, different, fearless and self-style Of the culture. True Religion is always high quality, super self-cultivation effect and with hippie, rock style, to attract the attention of top customers. Horse buckle, one hand holding the guitar hand thumbs up Maitreya Buddha, a variety of delicate hand-tailored way and particularly covered with pocket design above T and Super T’s hand-suture elements show a variety of yuan brand logo. In addition to many delicate handmade craft, True Religion is more revolutionary Vintage washing technology, showing the eternal charm and retro tannins feelings. True Religion is the most popular brand in the top of the Tannin market. True Religion has a number of patents on tannin manufacturing technology; in 2005 began to provide stitching map (Patchwork) tannins private style customization services. The same time as the above-
As the founder of the brand Jeffery Lubell continue to lead the brand to grow and have the courage to try and create a continuation of the distinctive bold (Fearless) brand spirit. Above not only in the men and women series, of course, also contains all other items. True Religion product style although diverse but always adhering to the “self-cultivation first” brand motto. True Religion is not for the trend of followers, but for the fashion trend of the leader and students. True Religion has become a unique and desirable long tannin and lifestyle brand. True Religion products and design are quite outstanding; True Religion customers are eye-catching and outstanding in the crowd; True Religion customers not only love the brand and become the trend of the lead By. True Religion has become a unique and desirable long tannin and lifestyle brand.
New silk harness vest whether it is stacked or sexy single wear is a perfect match, the new loose shape of the Georgia shirt to improve the profile of the perfect cut, clothing lines drape feeling easily bring out the upper body fashionable casual taste, walking series more Bring the glory of the latest clothing and leggings, with the holiday atmosphere to add shiny surface clothing, so you are particularly flickering in the rhythm.
True Religion this year to create a rebellious style of the deceased from the head to the feet, personalized leather jacket is more or indispensable. Male, locomotive-inspired style coupled with a unique zipper detail, hand-made old technology to bring the daily or road travel in the most grid look. Female, the locomotive wind series has a gold metal zipper detail with True Religion iconic hand-twisted stitch, with imitation fur locomotive jacket and modern short body rate style.
True Religion at the end of the season with a new winter canopy concept of light holiday mood, bright white into the wave of fluorescent neon, the whole series of bold escape in the past, True Religion has never seen a new attempt. Female series, neon and printing walk in the tannins, uploads and accessories, cross seen in the whole series, fluorescent neon color in the details of the tannins suture can be seen everywhere, is the season the most perfect style style tone. Male series, the end of the year will bring the best interpretation of modern college, from the college jacket to the T-shirt and accessories, this series is also a fluorescent Poku tone change a variety of fashionable style.
Deltabrook Capital Partners LP, a private equity fund company that acquired True Religion Apparel Inc. for $ 824 million in 2013, thought the deal would yield gains in the niche market, but unexpectedly, the global high-end retail market slowed down or even stagnated , The cowboy industry is also a positive trend in the world of sports, and True Religion Apparel Inc.’s main distribution channel department store industry is the more downturn, the fund companies can only lament the traitor is untimely.
According to Moody’s Investors Service Inc. Moody’s data, True Religion Apparel Inc. sold only $ 408 million in the first two months of August 2, 2015, and fell sharply after the acquisition of Towerbrook Capital Partners LP. Moody’s said the company’s total debt was about $ 454 million and was facing high risk of debt default or discount settlement.
Reporters informed Reuters that Kirkland & Ellis LLP’s debt restructuring measures included filing or bankruptcy negotiations, but True Religion Apparel Inc. has yet to make a decision.
In April this year, Towerbrook Capital Partners LP has begun to contact consultants Maeva Group LLC for True Religion Apparel Inc. continued decline in sales to find a way out. Maeva Group LLC was founded by former fund manager Harry Wilson, who helped bankruptcy electronics retailer RadioShack Corp. revive and is a member of the US government working group of the General Motors Company (NYSE: GM) General Motors bankruptcy reorganization one.