UPDATE 1-True Religion forms JV with international distributor

* JV beginning Aug 1

* True Religion to hold 60 pct interest

* Shares up 3 pct

July 26 (BestGrowthStock) – True Religion Apparel Inc (TRLG.O: )
formed a joint venture with its largest overseas distributor on
Monday, to expand its wholesale business, and roll out retail
stores in mainland Europe.

The premium denim company joined with UNIFA Premium GmbH to
form True Religion Brand Jeans Germany GmbH, which will take
over the wholesale distribution of True Religion Brand Jeans in
countries including Germany, Austria and Switzerland, as well
as the operation of a retail store in Cologne.

True Religion will own 60 percent interest in the joint
venture, while UNIFA Premium will own the rest.

True Religion said the joint venture’s results will be
immaterial to its 2010 financials.

UNIFA Premium’s managing director, Reinhard Haase, will be
the joint venture’s managing director.

“The joint venture’s business plan calls for expanding the
brand’s presence with the opening of retail stores and
shop-in-shops and increased wholesale sales efforts, including
new showrooms,” Haase said in a statement.

True Religion shares were up 3 percent at $25.46 Monday
afternoon on Nasdaq.

Stock Market Money

(Reporting by Nivedita Bhattacharjee in Bangalore; Editing by
Maju Samuel)

UPDATE 1-True Religion forms JV with international distributor