True Religion Targets 110M
Denim brand slashes prices 75% to $30-$80, expanding to 150 stores in 5 years
True Religion has undergone a significant transformation, shifting from a premium denim label to a broader lifestyle business with a more accessible price point. The brand is now targeting a mass audience of approximately 110 million urban casual consumers, a significant expansion from its previous customer base of around 10 million to 15 million shoppers when selling $200 or $300 jeans.
Today, True Religion is retailing denim for $30 to $80, making it more affordable for a wider range of consumers. The brand's retail footprint has also evolved, moving away from high-end shopping centers and into locations and wholesale doors where its target consumer shops, including Pacsun, Urban Outfitters, Macy's, and Buckle.
Owned retail makes up almost two-thirds of sales, with 39 percent coming from the True Religion e-commerce site. The brand is investing in brick-and-mortar stores, with 61 directly operated doors expected by the end of this year. This number is expected to grow to around 150 locations in the next four to five years.
According to True Religion CEO Michael Buckley, the payback period for every store built out is a year or less, making the brand bullish on its brick-and-mortar strategy. The brand has also tapped into the celebrity and music world, with fans including Britney Spears, Paris Hilton, Kylie Jenner, and Timothée Chalamet, and collaborations with artists such as Anitta and Megan Thee Stallion.
## Why it matters The transformation of True Religion is significant, as it marks a shift towards a more accessible and affordable brand. With a broader customer base and a growing retail footprint, the brand is poised for growth. The investment in brick-and-mortar stores also highlights the importance of physical retail in the brand's omnichannel strategy.
## What happens next As True Religion continues to expand its retail footprint, it will be interesting to see how the brand navigates the competitive landscape of the fashion industry. With its new pricing strategy and expanded customer base, the brand is well-positioned for success. However, it will need to continue to innovate and adapt to changing consumer trends to remain competitive.
