Friday , July 30 2021

Jeans maker Levi Strauss plans to become a public company again: Investor



Jeans maker Levi Strauss plans to become a public company again

Photo: Reuters

145-year-old jewelry maker Levi Strauss & Co plans to launch an IPO, Reuters reported, citing sources familiar with the case.

The company, which plans to raise between $ 600 million and $ 800 million, is likely to become public in the first quarter of next year, the CNBC report said.

The report stated that Levi was planning to debut on the stock exchange with around $ 5 billion.

The company is currently refusing to comment on the news.

This will bring Levi back to public space after almost five decades of retirement.

For the first time, the company became public in 1971, but the descendants of founder Levy Strauss, shortly after, decided to turn it back into a personal one.

In the latest quarterly report, Levi said its sales rose 10 percent to $ 1.39 billion, and net income grew by 44 percent mainly due to increased demand for jeans in retail and online space stores.


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