Five years after emerging from its second bankruptcy, True Religion is continuing to turn its business around and now has new ownership.
The apparel brand was acquired by two entities: private equity firm ACON Investments and retail investment fund SB360 Capital Partners. The latter is chaired by Jay Schottenstein, CEO of American Eagle Outfitters. A press release announcing the news says that True Religion will continue to “operate independently” and keep its headquarters in California.
True Religion — which was previously owned by Farmstead Capital Management — reportedly began a sale process in January 2024. In a statement on Tuesday, True Religion CEO Michael Buckley said that under its new owners, True Religion is “poised to enhance [its] digital and retail capabilities, accelerate [its] international growth and continue innovating [its] apparel offering.”
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