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Horse-shoe pockets via True Religion
In a move some investors might call crazy, and other investors definitely called "a huge bet on past-their-fashion-peak jeans selling for $250 a pair," TowerBrook Capital Partners acquired True Religion Apparel Inc. for about $835 million. That's a big vote of confidence for jeans that were the most-Googled denim brand of 2006 and has spent the majority of its time since hunting down counterfeiters on the internet. And it's especially a massive vote of confidence in a market where many denim brands of the mid-2000s now decorate an Americana graveyard (RIP Citizens of Humanity and Hudson Jeans).
But don't think this means True Religion is going to try to compete with the latest upswing of premium denim in the US. Andreas Kurz, former ceo of Seven For All Mankind (the seventh most-Googled denim brand in 2006), said, "I think that the brand still has potential in Europe and in Asia. If they can update their assortment and product offerings in women's, that business could make a comeback. It will depend too on price strategy and whether they want to stay in the superpremium denim space." Time will tell how the company decides to position itself, but our 2006-selves will wait with baited breath.
· True Religion Headlines Denim Deals [WWD]
· So, What Are 2006's Most Googled Denim Brands Up To Now? [Racked]