True Religion Apparel, Inc. (Nasdaq:TRLG) today announced the appointment of Sarah Lassek as the Vice President of U.S. Wholesale Sales at its wholly-owned subsidiary True Religion Sales LLC. In this role, Ms. Lassek will be responsible for the direction of the Company’s U.S. Wholesale business, including managing and growing its Major and specialty boutique accounts. Ms. Lassek will report directly to Jeffrey Lubell, Chairman, Chief Executive Officer and Chief Merchant of True Religion Apparel.
Ms. Lassek brings to True Religion significant senior-level sales and merchandising experience in the apparel industry. Most recently, she was Director of West Coast Sales for 7 For All Mankind where she was responsible for developing and implementing sales strategies for the 7 For All Mankind brand within the U.S. Wholesale channel. Ms. Lassek’s other experience includes sales positions with BCBG Max Azria and St. John’s Knits. Ms. Lassek earned a bachelors degree in business from Southern Methodist University and a professional degree in product development and merchandise marketing from the Fashion Institute of Design and Merchandising.
Ms. Lassek will manage the Company’s sales associates who were previously under direction of the Company’s independent sales agent, L’Atelier. In addition, Ms. Lassek will look to complement the existing sales force with additional sales managers and sales representatives. Under the direction of Ms. Lassek, the Company’s sales force will be responsible for developing expanded relationships with existing U.S. Wholesale customers, as well as cultivating new relationships with specialty boutique accounts. The Company’s transition to a direct sales force model is consistent with its goal to strengthen and grow its business relationships and streamline its communications with U.S. Wholesale customers.
“We are excited to welcome Sarah to the True Religion management team,” said Jeffrey Lubell, chairman, chief executive officer and chief merchant of True Religion Apparel, Inc. “As we continue to build the True Religion brand, we are committed to partnering more proactively with our Major and boutique customers to drive sales growth within this channel. We are confident that Sarah’s background in building premium apparel and jeanswear brands within the wholesale channel will serve to support our brand well, particularly as it relates to identifying and responding to market opportunities which is critical to ensuring consistency in execution.”
As previously announced, True Religion terminated its agreement with its independent sales agent L’Atelier, effective no later than December 31, 2009. Pursuant to the termination agreement, the Company will continue to pay a commission to L’Atelier on U.S. Wholesale sales orders received through December 31, 2009, if those sales orders result in sales on, or prior to, June 30, 2010. The Company is committed to working closely alongside its independent sales agent through the transitory period to ensure a smooth and seamless transition for its customers.
About True Religion Apparel, Inc.
True Religion Apparel, Inc. is a growing, design-based jeans and jean-related sportswear 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 in denim, sportswear, and licensed products, may be found in contemporary department stores and boutiques in 50 countries around the world, including the United States, Canada, Germany, United Kingdom, Japan, Korea, France, Spain, Sweden, Greece, Italy, Mexico, Australia, South Africa and China. For more information, please visit www.truereligionbrandjeans.com.
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.
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