Premium denim brand True Religion was forced to put itself in play following “indications of interest” from third parties. The firm has formed a special committee consisting of nonmanagement directors to explore its strategic alternatives.
The Vernon, Calif.-based firm has hired Guggenheim Securities as its financial advisor. The evaluation process is still in the early stages and there is no guarantee there will be a sale of the firm.
Sources familiar with the expressions of interest received by True Religion said the offers are credible, and noted that the valuations are “compelling” and “substantial.”
Peter Kim's Los Angeles-based premium denim line has always had its finger on the pulse of youth. This season, novelty is back in a way reminiscent of early Aughts, with studs, lace-ups, racing waxed denim and more. For more highlights if some of the key brands at the Vegas trade shows, go to WWD.com. #wwdfashion (📷: Patrick Gray; Styles by @thealexbadia; Story by @karihamanaka and @marcy_wwd)
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @vsteves; Interview by @ktauer; Styled by @thealexbadia)