True Religion Apparel, Inc. and Unifa Premium GmbH announce their new joint venture, True Religion Brand Jeans Germany GmbH.
In a release, the companies said that,
cheap ugg cardy bootsbeginning on Aug. 1, 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.
Unifa Premium is currently the largest international distributor of True Religion Brand Jeans merchandise. Unifa Premium’s managing director, Reinhard Haase, will be the JV’s managing director.
Jeffrey Lubell, chairman, chief executive officer and chief merchant of True Religion Apparel, said: “We 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 customers’ 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.”
“This partnership with True Religion Brand Jeans builds on the success that Unifa Premium has achieved in growing the brand’s wholesale sales in this region over the past six years,” said Haase. “The joint venture’s business plan calls for expanding the brand’s presence with the opening of retail stores
True Religion Marktand shop-in-shops and increased wholesale sales efforts, including new showrooms.”
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 venture’s financial results over the remainder of 2010 are expected to be immaterial to True Religion Apparel’s 2010 net sales and earnings per share.
True Religion Apparel is a design-based
Buy Tiffany jeans and jean-related sportswear brand.
Founded in Dusseldorf, Germany, Unifa has established itself as a fashion agency in Germany and Europe.
The pilot was transporting rebel commanders for peace talks with the government when his helicopter landed in the wrong place on Monday in Sudan’s volatile Darfur region.
After the helicopter was recovered, the UN said
Ugg cardy the crew and passengers were taken to a government military camp, but until now the location of the pilot was unknown.
Russia’s special presidential representative on Sudan, Mikhail Margelov, told the newspaper Kommersant that the pilot’s life was not in danger.
The pilot, Yevgeny Mostovshchikov, was being held by the
true religion rainbow janjaweed militia, which is demanding that the Sudanese government pay overdue back wages before it will release him, Margelov said.
The amount of money involved was believed to be in the tens of thousands of dollars, he said.
Margelov, who chairs the international affairs committee of the upper house of Russia’s legislature, said talks were underway and he expected the pilot to be released soon.
The helicopter was carrying three rebel commanders
Tiffany diamond from Darfur to Chad, from where they were to fly to Qatar for talks with Sudanese government officials. The helicopter was seized when it made a stopover in a mostly Arab tribal area of western Sudan.
