A Careful Look at True Religion Apparel (TRLG)

Ok, name this company: We were founded in April of 2001 with a mandate for exploration and acquisition of mineral properties. We issued common stock and took loans from shareholders to finance these exploration activities, but, in the end, didn't have enough capital to complete any of our exploring or acquisitions and couldn't convince our shareholders to finance us any further. Our board of directors then met and decided that we should pursue initiatives within the clothing industry to further fund out mining activities. THEN, when finding anything worthwhile in our mining properties started to seem just so remote, our board of directors decided that we should abandon those hopes altogether.

Any guesses? Let's keep going...

In June 2003 we acquired Guru Denim, Inc. (How about now, got a guess?) Well, if you haven't shouted out True Religion Apparel, Inc. (TRLG) yet, then you've probably never been in the market for a $200+ pair of jeans. That's right, True Religion is in the business of the ever popular, and these days, ever controversial industry of “premium denim.