Friday, October 12, 2012

" FAILING RELIGION " LUXARY JEAN COMPANY TRU RELIGION STRUGGLES AS A COMPANY AND IS LOOKING FOR FINACIAL HELP


True Religion, the jeans company that’s lately been getting so much status-symbol love in songs by Chief Keef, French Montana and Waka Flocka—not to mention an entire mixtape dedication from 2 Chainz—is having financial problems, according to The New York Times:  True Religion Apparel, the struggling maker of upscale denim, is apparently hoping a sale can repair its fraying financials.

True Religion’s shares have plummeted 39 percent this year, to $21.01, valuing the company at $541.8 million. On Wednesday, its stock leaped 25 percent, to $26.40, in premarket trading. True Religion was one of the original high-priced, designer jeans in the mid-2000s, and their hope is that a buyout will allow them to continue to make their signature frayed jeans. No comment on the news from 2 Chainz yet, though if he’s looking for suggestions for new brands to rep, we have more than a few.

source:fader/nytimes/truereligion/urbanmessmag

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