The 165-year-old company that invented blue jeans still makes most of its money from men’s pants, but that's changing.
Levi's is expected to raise over $600 million in its IPO on Thursday, at a valuation of $6.6 billion.Levi Strauss, one of America’s oldest companies and the inventor of the blue jean, will begin its second stint as a public company on Thursday.
Levi’s relaunched its women’s line in 2015 with a number of new styles and a four-way stretch fabric designed for comfort. Customers took notice. In 2016, Kylie Jenner posed on Instagram wearing a pair of Levi’s Wedgie Fit jeans. In 2017, Beyoncé wore a pair of its cutoff jean shorts during a performance at Coachella.
In 2018, the company recorded net income of $283 million. Revenue rose 14% to $5.6 billion. That is up from net income of $135 million on revenue of $4.8 billion in 2011. The company has also paid down some $1 billion in debt since 2011. This is Levi’s second stint on the public markets. The company, which was started by Bavarian immigrant Levi Strauss in 1853 as a wholesale dry goods business and patented the use of metal rivets to reinforce the seams in work pants, went public for the first time in 1971. Then, in 1985, it was taken private by the Haas family in a leveraged buyout.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Levi Strauss valued at $6.6 billion as IPO prices above targetLevi Strauss & Co fetched a higher price than expected in its initial public off...
Read more »
Levi Strauss valued at $6.6 billion as IPO prices above targetLevi Strauss & Co is coming back to the stock market after more than three decades with a valuation of $6.6 billion $LEVI
Read more »
Dow futures lower | FBI aides Boeing probe | Levi Strauss trading setFutures are pointing to a lower open for the Dow and S&P 500 ahead of the Thursday session, with investors still trying to digest the implications of yesterday's Fed meeting.
Read more »
Guess shares tumble on earnings shortfall as Levi Strauss IPO loomsShares of clothing company Guess tanked nearly 14 percent in the premarket Thursday after reporting earnings that missed analyst expectations.
Read more »
Levi Strauss IPO comes as denim market braces for year of corporate shakeupsLevi Strauss is expected to begin trading on Thursday. The move comes as its next closest U.S. competitors, VF Corp and Gap Inc., plan corporate shake-ups of their own and customers shift their shopping habits.
Read more »
Here's why Levi Strauss, the world's biggest denim brand, is going publicFor the first time in more than three decades, investors can buy shares of Levi Strauss & Co., the world's biggest jeans seller.
Read more »
Levi Strauss IPO seeing high demand, more than 10 times oversubscribed: SourcesBlue jeans giant Levi Strauss & Co.'s Thursday initial public offering is more than 10 times oversubscribed, sources familiar tell CNBC.
Read more »
Levi Strauss prices IPO at $17 a share
Read more »
Levi Strauss prices IPO at $17 a share, will raise more than $600 millionLevi Strauss & Co. priced its initial public offering at $17 a share Wednesday afternoon, and will raise more than $600 million. The iconic San Francisco...
Read more »