Sep. 9, 2009 (Business Wire) -- True Religion Apparel, Inc. (Nasdaq: TRLG) today announced the opening of a new branded retail store at Fashion Island in Newport Beach, California. Located at 401 Newport Center Drive, the 2,350-square-foot branded retail store will offer shoppers the entire True Religion collection for men, women and kids, including its signature jean styles, its expanding denim, sportswear and handbag collection, and a full range of licensed product, such as footwear, swimwear, headwear and fragrances.
Located in the heart of Orange County on the affluent Newport Coast, Fashion Island is an upscale retail center encompassing over 1.3 million square feet of retail space. The Center’s open-air design, high-profile luxury tenants and close proximity to Newport Beach’s coast, which provides stunning ocean vistas, makes Fashion Island a truly unique shopping destination. Fashion Island, which is currently undergoing a $100 million remerchandising and redevelopment to include Nordstrom as well as renovation of common areas, is home to over 100 specialty retail stores, more than one third of which are exclusive to Orange County, including Neiman Marcus, Juicy Couture, Trina Turk, and Betsey Johnson. Located in Newport Beach, one of the wealthiest communities in Orange County, Fashion Island is located within three miles of approximately 90,000 residents with annual incomes in excess of $187,000.
“We are excited to announce the opening of our Fashion Island store, which marks our entrance into Orange County,” said Jeffrey Lubell, chairman, chief executive officer and chief merchant of True Religion Apparel, Inc. “Orange County is home to several affluent communities and ranks fourth nationally in retail sales. We see a strong opportunity to build upon our presence in Orange County through the expansion of our branded retail stores. We are excited to partner with Fashion Island, which is widely recognized as a top shopping center in Orange County. Fashion Island exemplifies the premier shopping centers we seek as we expand our retail store base and we are especially excited to partner with Fashion Island as part of their remerchandising initiative to offer more fashion-forward, contemporary brands.”
“Fashion Island is centrally located in Orange County and attracts over 13 million visitors per year. With the solid demographics of the surrounding communities and high-volume traffic characteristics, we are confident in the financial prospects of our Fashion Island retail store,” said Michael Buckley, president of True Religion Apparel, Inc.
About True Religion Apparel, Inc.
True Religion Apparel, Inc. is a growing, design-based jeans and jean-related sportswear 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 in denim, sportswear, and licensed products, may be found in contemporary department stores and boutiques in 50 countries around the world, including the United States, Canada, Germany, United Kingdom, Japan, Korea, France, Spain, Sweden, Greece, Italy, Mexico, Australia, South Africa 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.
