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Dive Brief:
- Aiming to transform itself into a direct-to-consumer brand, True Religion launched a new mobile app Wednesday, according to a press release.
- The app features exclusive products, deals, interactive content, user-generated content, style recommendations and other perks. It’s available in the Apple and Google Play stores, per the announcement.
- The brand said that 80% of its e-commerce transactions and more than half of new visits occur via mobile devices. The company anticipates that the app will comprise 10% of its total e-commerce sales next year.
Dive Insight:
After a financially tumultuous time, True Religion is trying to turn itself around. As much of the retail world contended with the COVID-19 pandemic disruption, True Religion filed for bankruptcy in 2020 and exited Chapter 11 in October that year. CEO Michael Buckley said that the court-approved restructuring plan enabled the company to cut operating costs, reduce its debt and reach profitability.
Following its 2020 bankruptcy exit, the company has focused itself on becoming a digital-first retailer. True Religion reached record Cyber Week sales in 2021, generating $7 million in e-commerce sales, a 45% jump from 2020. The brand also said it wanted to surpass $100 million in e-commerce sales in 2022, which would represent about half of its total revenue.
As the brand turns its attention to its digital strategy, it has also brought in new leadership. In March, True Religion hired Scott McCabe to become its senior vice president of e-commerce, tapping into his prior experience at Columbia Sportswear, another brand emphasizing DTC, along with retailers like Tailored Brands, Macy’s, Gap and Banana Republic. The company named Sandip Grewal as its chief financial and chief operating officer in July.
“We know that the True Religion customer uses their smartphone to engage with the brand,” McCabe said in a statement. “The app will enhance our ability to facilitate a seamless and more direct relationship to our most loyal customers.”
via https://www.aiupnow.com
Tatiana Walk-Morris, Khareem Sudlow
