Denim maker True Religion considering sale-WSJ
Oct 10 (Reuters) - U.S. premium denim maker True Religion Apparel Inc is expected to announce on Wednesday that it is putting itself up for sale and has fielded buy out proposals from private equity firms and apparel industry companies, the Wall Street Journal reported, quoting a person familiar with the matter.
True Religion's jeans, priced between $170 and $360, sell at
upscale department stores and specialty boutiques.
Lower demand for its women's range, including jeans and shirts with serape patterns, prints and colored stitching, forced the company to cut its full-year profit outlook in July.
The company has formed a special committee with Guggenheim Securities LLC as financial adviser and Greenberg Traurig LLP as legal counsel to help it strike a deal, Wall Street Journal said.
True Religion, which has a market value of about $550 million, could not immediately be reached for comment outside regular U.S. business hours.
(Reporting by Neha Alawadhi in Bangalore; Editing by David Cowell)
Keywords: TRUERELIGIONAPPAREL ACQUISITION/