Despite their recent financial troubles over the past year retailer, American Apparel is launching a new denim line. In a press release about the new collection, CEO Dov Charney stated, “Jeans are an iconic, essential part of the modern wardrobe, just like the t-shirt. “No one does basics like American Apparel. We’ve mastered the basic t-shirt, now we’re getting excited about jeans.” The denim line has been in the works over the past year and launches today! There are two different styles for women; a high-waist cuffed jean short and a high-waist tapered leg blue jean. A denim design for men is set to launch just in time for back to school. The jeans will cost $80 a pair.
Considering all the bankruptcy drama surrounding the company within the last couple of months, I wouldn't think a new denim will save it. In the first quarter of 2010, AA had lost over $86 million in its earnings. And it's being said that the company owes several millions back to banks in the US, Canada and in Europe. Not to mention, it's rumored that if the company doesn't pay back some of it's debt by April 30th, it will apply for chapter 11 bankruptcy!!
So it looks like the American Apparel going out of business sale I was hoping for MIGHT happen!
***cross fingers!!
xoxo
Liipstik
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