True Religion Apparel, Inc. today said it is continuing the retail expansion for its growing lifestyle apparel collection with the signing of a new store lease in Miami Beachs fashionable South Beach community. The Miami Beach, Florida location follows on the heels of a proposed store in New Yorks SoHo district and is expected to open concurrently in December 2006, in time for the Christmas shopping season. The store with 2,000 square feet of selling space will be located on Collins Avenue, among other high-end stores such as Intermix, Nicole Miller, MAC Cosmetics and Barneys. The store will carry the entire True Religion line of clothing, including Mens, Womens, and Kids denim jeans, jackets, western shirts, T-shirts, skirts, fleece hoodies and pants, as well as the increasingly expanding line of sportswear, including knits and wovens.
"Expanding our retail store base is an important component of our growth strategy, and we are excited about establishing a presence in the vibrant South Beach shopping district," said Michael Buckley, president of True Religion Apparel. "This brings the number of stores that will be showcasing the entire True Religion collection to three by year-end and keeps us on pace for continued expansion in 2007."
"Arguably, Miamis South Beach is this countrys French Riviera or Ipanema Beach, attracting a high level of fashion savvy U.S. and international tourists to this one-of-a-kind retail location," said Jeff Lubell, chairman and chief executive officer. "This is an excellent example of our teams ability to identify and execute on opportunities that complement our lifestyle collection and growth strategy."
About True Religion Apparel, Inc.
True Religion Apparel, Inc. is a growing, design-based lifestyle 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, may be found in premier department stores and boutiques in North America, Europe the Middle East and Japan. 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
