Acon Investments has purchased a controlling stake in the True Religion apparel brand for an undisclosed amount. The brand, which was founded in 2002, will continue to operate independently out of its headquarters in Gardena, Calif. The transaction is supported by new and continuing limited partners of Acon including SB360 Capital Partners, a Schottenstein affiliate and established apparel and retail investor.
“Our partnership with Acon and SB360 represents an exciting new chapter for True Religion,” said Michael Buckley, CEO of True Religion in a statement. “With their expertise and resources, we are posed to enhance our digital and retail capabilities, accelerate our international growth and continue innovating our apparel offering.”
True Religion has been expanding its physical presence in the U.S. and now operates 51 brick-and-mortar stores. The retailer recently rebranded and retooled its loyalty program, leaning into omnichannel capabilities and adding “can’t buy” experiences as rewards.
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