True Religion targets $1 billion in annual sales

True Religion, a denim and sportswear brand, aims to reach $1 billion in annual sales within the next three to five years. Currently, the company expects to generate around $450 million this year. CEO Michael Buckley notes that the brand has seen strong sales growth despite economic challenges, including inflation and rising living costs. The company's marketing strategy focuses on appealing to hip-hop and sports figures. True Religion's signature designs include bold logos and unique styles, like baggy jeans and midriff-baring outfits. Buckley emphasizes that their target audience, primarily urban consumers with an average income of $65,000, continues to shop the brand despite financial stress. True Religion's marketing efforts have ramped up lately, especially with the hiring of Kristin D’Arcy as chief marketing officer in July 2023. The company also enjoys a growing online presence, with e-commerce sales reportedly up 35% year-to-date. In January, True Religion was acquired by ACON Investments and SB360 Capital Partners. Buckley states that these investors provide valuable advice, helping the brand grow. The company is well-funded and is looking at new opportunities in the apparel market. Buckle also mentions that 50% of True Religion's sales come from online, a number expected to rise. The brand operates 55 stores, with plans to open more in the coming years. True Religion's product range includes jeans, T-shirts, and other apparel, with plans to expand into additional categories like sweaters. The brand is also strategically positioned to minimize the impact of new tariffs due to its diverse sourcing locations. Finally, Buckley reassures customers that pricing will remain consistent, even amidst market changes. The company aims to offer affordable prices, as they understand what their customers are willing to pay.