The Wall Street Journal reports (subscription required) that Levi Strauss will debut its new "Levi's Engineered Garments" label next week, beginning with four Bloomingdales stores. The line is a collaboration with Engineered Garments, a New York label.

The line includes $235 button-fly 501 jeans, $235 hunting pants, and $185 Army shirts. The premium priced products are a step up from the company's recent Capital E effort, with prices ranging from $138-195.

But more importantly, it's a big step up from the more moderately priced (but still high quality) offerings that have been the company's bread and butter since 1853. I'm skeptical about Levi's ability to convince people to pay premium-denim prices for a brand with such a long history of more mainstream offerings, but the line's existence is indicative of at least one thing: the brass at at Levi Strauss Inc. views high-end denim as the future, and wants a piece.

If they're right about that -- especially in the current consumer environment -- it's bullish for True Religion Apparel (NASDAQ: TRLG), the top publicly-traded high-end jean company out there. I don't think Levi's poses much of a threat as far as market share and, if the pie continues to expand, True Religion should prosper.