Levi Strauss & Co. (LS&Co.) announced February 13, 2019 that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of shares of its Class A common stock.
LS&Co. intends to list its Class A common stock on the New York Stock Exchange under the ticker symbol “LEVI.”
In case you were curious, Levi's went public in the United States in 1971. It was bought back by the Strauss family in 1985. Well, it is time to have another go at being a publicly traded company.
Levi Strauss & Co. designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's®, Dockers®, Signature by Levi Strauss & Co.™, and Denizen® brands. Its products are sold in more than 110 countries worldwide through a combination of chain retailers, department stores, online sites, and a global footprint of approximately 3,000 brand-dedicated retail stores and shop-in-shops.
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When does Levi's go public? Sorry, I am not sure of an exact date yet.
How will Levi's stock effect other jean companies? The stock prices of Urban Outfitters, Abercrombie & Fitch, Gap, American Eagle Outfitters and Buckle all declined after Levi made the announcement. Obviously that is a short term effect, but what will the longer term effect of this announcement become?
Did you know that one of Levi's rivals will be spinning off jeans brands into a public company of their own? Don't quote me on this, but I believe VF Corp., may be planning to spin off its Lee and Wrangler denim brands into an independent, publicly traded company so that VF can focus on faster-growing athleisure and outdoor brands like North Face, Timberland and Vans.
If Lee & Wrangler spin off from VF Corp, would it be a good idea for Levi Strauss to buy those two brands? Sounds like a good plan to me...
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