Fashion retailer True Religion is allegedly exploring a full sale or minority stake for approximately $1bn, according to sources close to the matter.
According to a report by Reuters, the fashion brand that is owned by ACON Investments is working alongside JP Morgan.
However, there is no confirmation from the company on the potential sale, which is allegedly in the beginning stages.
Last year ACON Investments acquired a majority stake in True Religion for an undisclosed amount.
At the time the parent company aimed to execute a turnaround strategy in order to drive growth and value in the brands.
The brand was founded in 2002 and has an established presence in the global apparel and denim industry.
True Religion is now an omnichannel retailer with a large and expanding online and brick-and-mortar presence.
However, over the course of time, the brand went bankrupt twice, in 2017 and then over the pandemic, as the consumer trends changed.
Shoppers began leaning towards more affordable options, aiding the rising cost of living as the years passed by.
True Religion sells a range of denim products that are catered towards various categories and age groups.
ACON has consistently and successfully implemented a multi-pronged strategy in order to drive growth and value in such brands.
ACON has been contacted for a comment.
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