Luisa Zargani
3 min read
MILAN — Reflecting True Religion’s momentum, the denim, sportswear and accessories brand distinguished by its “Super T” stitch, has secured a minority investment from Borletti Group, which is set to help contribute to its growth.
Washington, D.C.-based private equity Acon Investments and SB360 Capital Partners, a Schottenstein affiliate, took a majority stake in True Religion last January and they remain majority shareholders.
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Financial details were not disclosed.
“We are thrilled to support True Religion at such an exciting stage of its growth journey. Our decision to invest was driven by the brand’s outstanding performance, particularly over the past four years, and by its clear growth trajectory and high profitability,” said Maurizio Borletti, cofounder and partner of Borletti Group. “We look forward to actively contributing to True Religion’s development, bringing our expertise in the retail and fashion sectors, our international network and a strategic vision focused on digital expansion and omnichannel growth.”
Borletti Group was also founded by Paolo De Spirt, and has more than two decades of experience investing in premium and lifestyle brands ranging from Printemps and Rinascente to MooRER and Zimmermann.
Acon led the transaction with the support of Borletti Group and its co-investors (including Azimut through the AZ RAIF II-Private Equity Borletti Investment fund and the founders of Moose Knuckles), and with the Schottenstein Group, which has a network of apparel and retail businesses that includes American Eagle Outfitters.
Founded in 2002, True Religion is headquartered in Los Angeles and is led chief executive officer Michael Buckley.
As reported, the brand, positioned in the accessible range, is aiming to reach $1 billion in annual sales in three to five years. The business is expected to reach $450 million in volume in 2025, driven by focused marketing and merchandising centered on hip-hop and rap performers and sports figures; showy logos; moderate prices; promotions, and edgier styles, such as Super T miniskirts and short shorts; slouchy, baggy men’s jeans, and often formfitting midriff-baring women’s outfits. Its e-commerce business is up 35 percent year-to-date, Buckley told WWD in March.
Last year True Religion launched its holiday campaign with Megan Thee Stallion and Hunxho. Saweetie has also fronted images for the brand. In February, the label tapped Brazilian pop star Anitta to kick off its new marketing platform, called “Own Your True.”
