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UPDATE 1-Denim maker True Religion says exploring sale

* Receives interest from third parties for potential deals

* Forms committee to oversee strategic review

* Shares up 21 percent in premarket trade

Oct 10 (Reuters) - Denim maker True Religion Apparel Inc

said it was evaluating strategic alternatives whichcould include a possible sale of the company, after receivingindications of interest from third parties.

Shares of the company rose 21 percent to $25.40 in premarkettrade on Wednesday.

True Religion said it formed a special committee comprisedof its non-management directors and engaged GuggenheimSecurities LLC as financial adviser and Greenberg Traurig LLP aslegal counsel to assist in the review process.

No decision has been made to engage in any transaction, thecompany said in a statement.

The Wall Street Journal reported that the company hadfielded buyout proposals from private equity firms and apparelindustry companies. ()

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's shares closed at $21.01 on Tuesday on theNasdaq.

(Reporting by Neha Alawadhi and Siddharth Cavale in Bangalore;Editing by David Cowell and Sreejiraj Eluvangal)

((neha.alawadhi@thomsonreuters.com)(within U.S. +1 646 2238780, outside U.S. +91 80 41356385)(neha.alawadhi.thomsonreuters.com@reuters.net))

Keywords: TRUERELIGIONAPPAREL ACQUISITION/