Jeans brand True Religion explores sale – valuation of nearly one billion dollars
The owner of US jeans brand True Religion is exploring a sale, Reuters reports. The twice-bankrupt brand could be worth nearly one billion dollars.
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US jeans brand True Religion is exploring a sale. As news agency Reuters reports, citing sources, owner ACON Investments is considering either a full sale or the sale of a minority stake. The brand could be valued at nearly one billion US dollars. ACON is working with the bank JPMorgan, and the process is at an early stage. True Religion, ACON and JPMorgan declined to comment.
According to Reuters, annual earnings before interest, taxes, depreciation and amortisation (EBITDA) have nearly doubled since ACON's acquisition and are approaching 150 million dollars. Annual revenue is close to 550 million dollars. ACON took a controlling stake in December 2024 together with SB360 Capital Partners, an affiliate of the Schottenstein family. SB360 chairman Jay Schottenstein is also CEO of American Eagle Outfitters.
True Religion was founded in Los Angeles in 2002 as a premium jeans brand and became known for its 'Super T' stitching. The company filed for bankruptcy in 2017 and 2020. Today it sells lower-priced jeans and a wider range; according to CEO Michael Buckley, denim now accounts for only 35 to 40 percent of revenue. The brand runs about 60 stores and aims for 150 in the long term. It is based in El Segundo, California.