ORIGINALLY POSTED ON 7/5/2017
True Religion has filed for bankruptcy protection today as the brand failed to evolved with fashion! The "high end" denim company have listed 100 million to 500 in assets and liabilities.
I'm assuming the collaboration with NBA Star Russell Westbrook wasn't profitable either.
With that being said...While True Religion is blaming the decline of sales in brick and mortar stores and boom in online sales as there reason a they've seen a decline...NO ONE WAS EVEN BUYING TRUE RELIGION ANYMORE!
All they had to do was go back to the drawing board and redesign the denim! Personally, I've never owned a pair of true religion and found the brand to be obnoxious and reminiscent of Ed Hardy but fashion is always evolving and you have to be aware of that getting into this business.