VERNON, CA-Jeans retailer True Religion Apparel Inc. plans toexpand its store base considerably, growing from 15 locationsanticipated at the end of this year to 30 at the end of 2008 and 50in 2009, company president Michael Buckley said Wednesday in apresentation to financial analysts. Buckley outlined TrueReligion's store expansion plans and other elements of its growthstrategy in a presentation at the Thomas Weisel Partners 2007Consumer Conference at the Mandarin Oriental Hotel in New YorkCity.

Buckley explained that the fast-growing company's sales climbedfrom $2 million in 2003 to $139 million in 2006 and is on track totop the 2006 number this year despite the economic downturn thathas some retailers lagging. “We don't believe our customers havebeen impacted by the economic downturn. They have a substantialamount of discretionary income,” the True Religion president said.The company's high-end jeans retail for about $170 to $400, butBuckley pointed out, “We're not experiencing any price resistance,and we believe we won't as long as we offer innovativeproducts.”

True Religion's store growth somewhat parallels the company'ssales history. The company opened just one store in 2005, openedthree last year and this year will finish the year with 15locations. The company also retails its denim and denim-relatedsportswear in department stores and boutiques in 50 countries. TrueReligion also earns licensing revenue from third parties.