Revamped Denim Icon: True Religion Finds New Home
A New Chapter Unfolds
True Religion, the iconic Y2K-era jeans brand, has been acquired by private equity firm Acon Investments and American Eagle-linked firm SB360 Capital Partners. This marks a significant milestone in the brand’s journey, which has seen a remarkable comeback under the leadership of CEO Michael Buckley.
From Luxury Roots to Urban Staple
True Religion has transformed itself from a broken-down brand clinging to its luxury roots to an urban staple that has collaborated with hip-hop stars like Megan Thee Stallion. The brand’s comeback is rooted in a marketing strategy led by Chief Marketing Officer Kristen D’Arcy, who has focused on partnering with strategic influencers like Jayda Cheaves.
Good Timing and Smart Strategy
The brand’s resurgence can be attributed to a combination of good timing and smart strategy. Jeans have recently become one of the hottest segments of the apparel sector, and Y2K fashion has come back in style with younger shoppers. True Religion has also benefited from its focus on diversity, with an average income of about $60,000 to $65,000, and a more accessible price point of less than $100 a pair.
Acon Investments and SB360 Capital Partners: A Winning Partnership
Acon Investments, based in Washington, D.C., has $7.2 billion in assets under management and has previously invested in popular consumer brands like Applebee’s, Igloo, Spirit Halloween, and Borden Dairy. SB360 Capital Partners, chaired by American Eagle’s CEO Jay Schottenstein, is a retail investment firm that invests equity capital to support growth opportunities.
What’s Next for True Religion?
With the new partnership, True Religion is poised to enhance its digital and retail capabilities, accelerate its international growth, and continue innovating its apparel offering. CEO Michael Buckley is confident that the brand has the potential to be a billion-dollar brand, and with the right strategy and support, the sky’s the limit.
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