True Religion Sets Record for Cyber Week Ecommerce Sales
True Religion, an iconic American apparel and accessories brand, today announced that ecommerce sales on this year's Cyber Week rose to a record-setting $7 million. These sales represent the largest volume week in the Company's history, reflecting a 45% increase in sales for the week over 2020. The company also announced that during this same period, its conversion rate and traffic rose 20% and 15%, respectively.
"We are thrilled with our record-setting performance during the critical Cyber Week period, which includes our biggest sales days of the year," said Michael Buckley, Chief Executive Officer of True Religion. "As part of our business transformation, we have spent a significant amount of time learning who our customers are, what they want and how they want to shop, and we are now able to deliver that experience. Our strategic decision to diversify our marketing channels has resulted in significantly increased demand for our products and our focus on inventory management allowed us to satisfy this demand throughout the entire Cyber Week shopping event."
The Company's ongoing business transformation toward a digital-first, DTC model is providing customers with a seamless ecommerce experience whenever and wherever they interact with the brand. The company expects to do well in excess of $100 million in ecommerce sales next year and anticipates that online sales will represent 50% of revenues by 2025, up from 35% this year.
True Religion's Executive Vice President of Digital, Angela Clark, said, "We have a tremendous opportunity to scale the True Religion brand through product expansion, expanded distribution channels, and enhanced digital marketing efforts. Our digital-first mindset has been instrumental in propelling the brand into a true omnichannel experience for our customers, regardless of where they shop."
"While this is proving to be a challenging holiday season for some retailers, we are pleased with our performance to date," added Buckley. "We believe our commitment to serving our customers by transforming to a digital-first brand positions us well for the remainder of this holiday season and beyond."
About True Religion:
True Religion, an iconic American apparel and accessories brand founded in 2002, became famous for its unique way of stitching which dramatically changed the silhouette of the typical 5-pocket jean. Today the company is in the midst of a remarkable transformation led by Chief Executive Officer Michael Buckley. Buckley and his team's success derives from focusing on understanding and addressing True Religion's new diverse customers, men and women who span a broad age range from 15 ? 60+ with an average household income of $65,000. There are over 150 million individuals in the United States alone who fit into this demographic profile. Excellent brand recognition across generations is a testament to the iconic nature of True Religion.
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