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True Religion Apparel and UNIFA Premium Enter into a Joint Venture

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  Published in House and Home on Monday, July 26th 2010 at 9:15 GMT by Market Wire
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VERNON, Calif.--([ BUSINESS WIRE ])--True Religion Apparel, Inc. (NASDAQ: TRLG) and UNIFA Premium GmbH announce their new joint venture, True Religion Brand Jeans Germany GmbH. Beginning on August 1, 2010, the joint venture will take over the wholesale distribution of True Religion Brand Jeans in Germany, Austria, Switzerland, the Netherlands, Belgium and Luxembourg and the operation of a True Religion Brand Jeans retail store in Cologne, Germany.

"This partnership with True Religion Brand Jeans builds on the success that UNIFA Premium has achieved in growing the branda™s wholesale sales in this region over the past six years"

UNIFA Premium is currently the largest international distributor of True Religion Brand Jeans merchandise. UNIFA Premiuma™s managing director, Mr. Reinhard Haase, will be the JVa™s managing director.

Jeffrey Lubell, chairman, chief executive officer and chief merchant of True Religion Apparel, Inc., stated: aWe established the joint venture to expand our wholesale business in each of these countries and to roll-out branded retail stores in the territory. Presenting True Religion Brand Jeans in branded retail stores and premium wholesale customersa™ stores follows our successful domestic strategy. UNIFA Premium brings demonstrated wholesale, retail and operations expertise. Reinhard Haase stands out to me as one of the best European merchants of the premium denim category. We look forward to partnering with Reinhard and the UNIFA Premium wholesale, retail and operations team as they focus their efforts to expand the True Religion Brand.a

aThis partnership with True Religion Brand Jeans builds on the success that UNIFA Premium has achieved in growing the branda™s wholesale sales in this region over the past six years,a said Mr. Haase. aThe joint venturea™s business plan calls for expanding the branda™s presence with the opening of retail stores and shop-in-shops and increased wholesale sales efforts, including new showrooms.a

True Religion Apparel will own a controlling 60 percent interest in the joint venture, and UNIFA Premium will own a 40 percent interest. The joint venturea™s financial results over the remainder of 2010 are expected to be immaterial to True Religion Apparela™s 2010 net sales and earnings per share.

About True Religion Apparel, Inc.

True Religion Apparel, Inc. is a growing, design-based jeans and jean-related sportswear brand. The company designs, manufactures and markets True Religion Apparel products, including its premium True Religion Brand Jeans. Its expanding product line, which includes high-quality, distinctive styling and fit in denim, sportswear, and licensed products, may be found in contemporary department stores and boutiques in 50 countries around the world, including the United States, Canada, Germany, United Kingdom, Japan, Korea, France, Spain, Sweden, Greece, Italy, Mexico, Australia, South Africa and China. For more information, please visit [ www.truereligionbrandjeans.com ].

About UNIFA Premium GmbH

Founded in Dsseldorf, Germany, in 2000, UNIFA has established itself as an important fashion agency in Germany and Europe. The Companya™s creators, Evelyn Hammerstrm and Reinhard Haase, offer their demanding, fashion-conscious client base a unique brand portfolio based on L.A. premium denim and trendy labels from Europe. UNIFA unites three business pillars under one roof: as an agency, UNIFA represents trendy designer labels and provides them with European distribution including into Germany, Austria, Switzerland, Russia and Spain, as an importer, UNIFA showcases the latest trends year-round in their showrooms in Dsseldorf and Munich, and, with its high-level designer retail store, UNIFA has created its own tool for market research on its brands. For more information, please visit www. unifa-fashion.com.