Borletti Group acquires minority stake in True Religion

Investment firm Borletti Group, founded by Maurizio Borletti and Paolo De Spirt, is strengthening its position in the fashion lifestyle market after acquiring a minority stake in American denim and casualwear brand True Religion, controlled by Acon Investments.

The Borletti Group, which has more than 20 years of experience investing in premium and lifestyle brands, including Printemps, Rinascente, MooRER, and Zimmermann, said the acquisition was driven by True Religion’s recent “outstanding performance” and strategic vision for future growth.

Maurizio Borletti, founder and partner of Borletti Group, said in a statement: “We are thrilled to support True Religion at such an exciting stage of its growth journey. Our decision to invest was driven by the brand’s outstanding performance, particularly over the past four years, and by its clear growth trajectory and high profitability.

“We look forward to actively contributing to True Religion’s development, bringing our expertise in the retail and fashion sectors, our international network, and a strategic vision focused on digital expansion and omnichannel growth.”

Borletti Group invests in True Religion alongside Acon Investments

Acon Investments, True Religion’s majority shareholder, led the transaction with the support of Borletti Group and its co-investors, including Azimut and the founders of Moose Knuckles, and is partnered with the Schottenstein Group, a strategic ally with a network of apparel and retail businesses that includes American Eagle Outfitters.

True Religion emerged onto the Los Angeles denim scene in 2002 by disrupting the construction of the classic five-pocket jean with its five-needle thread at two-stitch-per-inch process. Today, the brand offers premium denim, sportswear and other apparel for men, women and kids.

In January 2025, when Acon Investments secured a controlling stake in True Religion, the American private equity investment firm, said it was looking to accelerate the brand’s international growth by broaden its geographic reach and continuing the diversification of its product offerings.

Financial terms of the transaction were not disclosed.