VERNON, Calif., Feb 23, 2011 (BUSINESS WIRE) –True Religion Apparel, Inc. (Nasdaq: TRLG) today announced that the Company has named David Chiovetti as Senior Vice President of North America Retail, a newly created position, effective February 22, 2011.
Mr. Chiovetti was most recently Vice President of Stores, Guess and Guess by Marciano, where he provided leadership in all aspects of strategic planning and operations for these businesses. Prior to this, he held the position of Director of Stores, Guess and Guess by Marciano, from 2004 to 2007, where he was responsible for the preparation and execution of long-term planning, which included achieving annual store expansion and revenue goals, four-wall margin benchmarks and operating profit budgets. Mr. Chiovetti was also directly responsible for the coordination and execution of all aspects of the in-store customer experience, which involved the integration of product, visuals, marketing, operations, training and loyalty programs. Mr. Chiovetti began his career as National Supervisor at Guess? Canada, Inc. and also served as Director of Stores, Canada, and West Coast Regional Director for Guess? Inc.
Jeffrey Lubell, Chairman, Chief Executive Officer and Chief Merchant of True Religion Apparel, Inc. stated, "David's appointment to the True Religion Apparel management team marks an important step in our Company's evolution. His proven track record of executing growth plans while maintaining strict cost controls will prove invaluable as we expand our U.S. Consumer Direct business while maintaining our targeted margins. His focused efforts to refine and improve upon our current domestic retail operations will further strengthen our Company."
About True Religion Apparel, Inc.
True Religion Apparel, Inc. is a growing, design-based jeans and jeans-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 the Company's branded retail stores globally as well as contemporary department stores and boutiques in 50 countries on six continents. The Company owns and operates 94 branded retail stores in the United States, four branded retail stores in Japan, one branded retail store in the United Kingdom, one branded retail store in Germany, and one branded retail store in Canada. For more information, please visit www.truereligionbrandjeans.com.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Among these forward looking statements are our expected operating and financial performance and the other statements contained in this press release addressing our plans, expectations, future financial condition and results of operations. These forward-looking statements are not historical facts and are inherently uncertain and outside of our control.Any or all of our forward-looking statements in this press release may turn out to be wrong.They can be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. Actual future results may vary materially. Factors that may cause our plans, expectations, future financial condition and results to change are described in our Annual Report on Form 10-K, Reports on Form 10-Q and our other filings with the SEC, and include: the current downturn in the global economy and in particular, the decline in consumer spending generally and in the apparel industry more specifically; the Company's ability to predict fashion trends; the Company's ability to continue to maintain its brand image and reputation; competition from companies with significantly greater resources than ours; and the Company's ability to continue and manage its expansion plans.
SOURCE: True Religion Apparel, Inc.