True Religion, going once, going twice, SOLD! Hit the jump for the full story!

After about a year, True Religion was finally sold to TowerBook Capital partners, an investment firm. Guess how much they dropped? $835 million, mind you, the company’s value last year was just $541.8 million. This isn’t the investment firm’s first time investing in fashion. The company also invested in Jimmy Choo, Phase Eight, and Odlo. If you want a piece of true religion, Stock is only at $31.60.