Michael Buckley, chief executive officer of True Religion, is on his second tour of duty at the denim-based brand and knows better than anyone its history of highs and lows.
is positioned far differently from its launch 20 years ago, and according to CEO Buckley, it’s in a better place, casting a wider net.
In the following Q&A, Buckley discusses how the brand has changed, what makes it distinctive and what’s in the works to grow the business. The lesson learned here is that the key to longevity in the fashion business is to evolve, as demographics, lifestyles and the competitive landscape change. That’s true even with denim, a mainstay in casual wardrobing that never runs out of style.
When I came back here, I saw how the brand changed dramatically. I really knew that the brand still had just tremendous cache with the audience. But you have to know your customer and the customer evolved here, call it from [Nov. 12, 2010] to present. I saw that, and unfortunately other people at the helm did not see that. The strategy needed to change. The sourcing needed to change. The retail footprint needed to change. The wholesale business needed to change. Nothing changed.
The brand has evolved. It’s not the Neiman’s or Saks customer of years ago. It’s men and women, ages 15 to 60, African American, Latino, Asian, white — all races. It’s a much bigger audience. Based on research we’ve done, it’s lower incomes today, with an average household income of about $65,000. Quite honestly, that’s the American average. But it’s 150 million strong in that demographic.: We have 4 million-plus in our database, which is much larger than it’s ever been. It’s grown every year.
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