TRUE linkswear sought a long-term financing partner in Republic Business Credit, which understood the footwear and apparel company's e-commerce and wholesale market strategy and could keep up with TRUE's dynamic growth trajectory. Republic provided a sizeable asset-based loan to ensure availability against TRUE's inventory and accounts receivables.
TRUE is a golf footwear and apparel company founded in 2009 by brothers Ryan, Jason and Jeremy Moore. Ryan Moore is a five-time winner on the PGA Tour, and the game of golf has always been part of the family's DNA. They founded the Tacoma, Washington-based company to develop a more modern golf shoe after years of walking courses in uncomfortable footwear. The company has expanded into lifestyle golf footwear and apparel offerings, including their ever popular "Dead Golfer" collection.
Republic was the right partner because of who they are, not just what they do. They share a founder's mindset that allows us to confidently grow our business.
TRUE primarily sells through its own e-commerce website but also has partnerships with country clubs and resort pro shops across the country, as well as online sellers like Amazon. Their flagship retail partners include Bandon Dunes, Pebble Beach, Sand Valley, Austad's, and Puetz Golf. In 2024, it will be expanding its relationship with larger retailers such as DICK's Sporting Goods, Scheels and the PGA TOUR Superstore.
Republic's asset-based loan provided TRUE with the working capital to accelerate their growth plans, develop new products and launch partnerships with more retailers. Additionally, Republic worked with TRUE to tailor the offering to fit the company's near and long-term needs, including an accordion option as well as a structured six-month over-advance during the low season to help the company bring in new inventory as orders have already exceeded 110% of 2023 bookings.
A sponsor of TRUE and partner at KarpReilly, Ryan Greene has been a supporter, board member and investor for years. "In Republic, TRUE found a long-term partner that can accelerate their growth with a dynamic debt solution. We are proud to have TRUE in our portfolio of companies and believe this partnership will further support our investment," he said.
TRUE is currently led by CEO, Jason Moore, and backed by private equity fund, KarpReilly, an existing partner of Republic. Moore shared, "Republic was the right partner because of who they are, not just what they do. They share a founder's mindset that allows us to confidently grow our business."