True Religion CEO Michael Buckley discusses how the denim-based brand got back on a growth trajectory.
According to Buckley, the privately owned brand will make at least $65 million in EBITDA [earnings before interest, taxes, depreciation and amortization] and the business is growing at a double-digit rate.
“Next year we will be able to do north of $100 million online,” Buckley said, adding that e-commerce will represent 50 percent of revenues in a few years, from 35 percent currently, while wholesale will represent 40 percent, up from 35 percent currently. True Religion sells at about 4,000 doors in the U.S., and about 1,000 doors outside the States. The True Religion stores are seen generating about 10 percent of revenues.
In the following Q&A, Buckley describes a business that’s rebounded, explains why it’s growing and addresses the challenges ahead.Michael Buckley:
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