Levi Strauss plans to go public again, seeks to raise up to US $ 800 for the same

Source: https://apparelresources.com

Blue jeans giant Levi Strauss & Co. is planning to raise US $ 600 million and US $ 800 million in an initial public offering, according to sources familiar with the matter.

The 145- year old San Francisco-based company is working with Goldman Sachs and JP Morgan Chase & Co. on plans to go public in the first quarter of 2019. The company is aiming to debut with a valuation of more than US $ 5 billion, according to the report.

This can prove to be the company’s return to the public markets, nearly five decades after going private. The company first went public in 1971 but the controlling family took the company private again in 1985 in a $1.7 billion leveraged buyout.

In its latest quarterly report, the company said sales rose 10 percent to $1.39 billion and net income jumped 44 percent, mainly due to demand for its jeans at both retail stores and online.

The firm designs and sells apparel under the Levi’s, Dockers and Denizen brands. The company operates about 2,900 retail stores but its products are sold in about 50,000 retail locations across 110 countries.

Categories: Apparel, Brands, Business, Retail, USA

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