Founded in and headquartered in Manhattan Beach, True Religion made its mark as a designer jeans maker when premium denim was a hot fashion trend in the mids. The label could be spotted on the legs of celebrities such as Eva Longoria and Cindy Crawford.
Rivals such as Diesel and 7 for All Mankind, which have had their share of financial woes recently, thrived during this era as well. Much of that luster faded over the years as competition intensified and shoppers shifted to more casual options such as Lululemon Athletica Inc. True Religion has tried to adapt by creating its own line of workout wear. Millions of workers now face a vaccination mandate. Clothing retailers across the U.
Malls and stores are closed, with more than a million employees placed on furlough. True Religion has about stores in the U. True Religion Apparel, Inc. The Code advises our Vendors of their obligation to adhere to all applicable local, state including the California Transparency in Supply Chain Act and federal laws as well as the standards established by the Company and set forth in the Code. As a condition of doing business with the Company, each Vendor must execute the Code and implement the principles contained therein.
The Company will continue to develop Vendor monitoring systems including, but not limited to, independent, unannounced third party audits to assess and ensure compliance with the Code. If the Company determines that any Vendor has violated the Code, the Company may either terminate its business relationship or require the Vendor to implement a corrective action plan. By espousing the foregoing principles, the Company strives to ensure integrity of its supply chain while continuing to uphold and exceed the quality of our branded merchandise.
Mens Womens. True Religion. Search Catalog Search. Bitterness over the collapse of the company quickly turned into a legal battle: "We got no ownership and got hung out to dry with our liability with CIT Commercial Services, our factor," Lubell fumed in a September 25, interview with WWD. Jolna Design Group Inc. In June , the Jolna brothers were the first to strike, filing a lawsuit against the Lubells that alleged misappropriation of trade secrets and unfair competitive practices related to the Lubells' new line of jeans, Hippie Jeans.
The Lubells fired back, filing a ten-count countersuit charging the Jolnas and CIT with fraud and conspiracy. I said, 'I'd rather do things myself than to sell out and go through that again. He registered the company's trademarks to himself and he sought an arrangement that would provide an infusion of capital without forcing him to give up majority ownership of the company.
Lubell's stipulations led to an odd corporate marriage, a deal that would see his company, Guru Denim Inc. The deal was a reverse merger, a transaction in which a private company is folded into a public company and managed by executives from the private company.
Not uncommon, reverse mergers avoid the legal and underwriting expenses associated with taking a privately owned company public. For Lubell, a reverse merger answered his need for capital and met his desire to maintain control, a logical solution provided by an incongruous corporate union. In April , Gusana Explorations Inc.
Incorporated in Nevada and occupying main offices in Vancouver, British Columbia, Gusana held titles to six mineral claims north of Vancouver, where it hoped to prospect for gold. The company never became a going enterprise. A registration statement filed with the Securities and Exchange Commission SEC on March 5, , came across as particularly despondent, exceeding the usual cautionary tone adopted by companies in presenting their case to the U.
Even if we find that there is gold on our property, we cannot guaranty that we will be able to recover the gold. Even if we recover gold, we cannot guaranty that we will make a profit. If we cannot find gold or it is not economical to recover the gold, we will have to cease operations. While Gusana's directors mulled over their options in Vancouver, down south, in El Segundo, California, Lubell was exploring his own options.
He solicited the help of a friend to secure a direct investment in Guru Denim, and his friend introduced him to the investment bankers backing a forlorn operation up north, Gusana.
In June , Lubell agreed to sell his denim company to Gusana, gaining the leverage he demanded after his experience with Bella Dahl.
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