Friday , February 26 2021

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



Levi Strauss plans to become a public company

Photo: Reuters

The 145-year-old gem manufacturer Levi Strauss & Co intends to launch an IPO, Reuters said, citing a source familiar with this case.

The company, which plans to increase between 600 and 800 million dollars, is likely to become public in the first quarter of next year, reports CNBC.

The report states that Levi's plans to debut on the stock market with about $ 5 billion.

The company does not want to comment on the news now.

This will Levi return to the public space after almost five decades of retirement.

The company first became public in 1971, but the descendants of founder Levy Strauss soon decided to return it to private.

In its latest quarterly report, Levi said sales rose 10 percent to $ 1.39 billion, while net revenues rose 44 percent, largely due to increased demand for jeans in retail and online stores.


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