Oct 10 (Reuters) - U.S. premium denim maker True ReligionApparel Inc is expected to announce on Wednesday thatit is putting itself up for sale and has fielded buy outproposals from private equity firms and apparel industrycompanies, the Wall Street Journal reported, quoting a personfamiliar 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 andshirts 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 GuggenheimSecurities LLC as financial adviser and Greenberg Traurig LLP aslegal counsel to help it strike a deal, Wall Street Journalsaid.
True Religion, which has a market value of about $550million, could not immediately be reached for comment outsideregular U.S. business hours.
(Reporting by Neha Alawadhi in Bangalore; Editing by DavidCowell)
Keywords: TRUERELIGIONAPPAREL ACQUISITION/