This week we have chosen True Religion Apparel, Inc., for our CalMU Small Business Spotlight Award. I know most of you have heard of them, and many of you regularly wear their designer jeans and other apparel, and it’s for good reason.
They have taken jeans and all of the casual stereotypes sewn into them and have made them fashionable again. Instead of just throwing on a pair and going to school or heading to a friend’s house, they have become the ideal pants to wear out on a weekend night: not too casual, not too formal, and the perfect amount of comfort. So for students in our Hybrid MBA and online MBA programs, and for business people in general, here is a look at this week’s CalMU Small Business Spotlight.
True Religion was founded in December 2002 by Jeffrey Lubell and Kym Gold. They now have around 900 branded boutiques and specialty stores in 50 countries on 6 continents (say that 5 times fast). The flagship store is located in Manhattan Beach, California, and was their first retail store, opening in late 2005. In a span of decade True Religion Apparel have created a milestone in the denim and fashion industry and is showing no signs of slowing down. Let’s take a look at some of the numbers…
Jeffrey Lubell is truly a visionary who started a small business in fashion apparel, but geared it to a more high end market to really help bring casual wear back in style. Its annual sales have surpassed the $400 million mark, with sales for the fiscal year of 2011 totaling nearly $420 million.
However, according to Forbes, if we look at its sales from March 31, 2011, to March 31, 2012, True Religion’s sales are closer to $433 million, highlighting its current increase in consumer popularity. That’s because their reported 2012 First Quarter numbers are eye-opening, with sales skyrocketing nearly 14% to reach $106.8 million. There’s no wonder why the brand has become such hot activity on Wall Street in recent months.
I don’t know about you, but I know what I’m wearing this Friday night