Evaluation of Levi’s, a Jeans Manufacturer, During the IPO Reaches $6.6 Billion
Levi Strauss returned to the stock exchange due to its line of women’s clothes.
Levi’s re-started producing women’s clothes in 2015 presenting many new styles and stretching in all directions fabric for greater comfort. Customers paid their attention to the novelties: the sales of women’s clothes continued to grow for 14 quarters in a row. In 2016, Kylie Jenner posted in Instagram her photos on which she wears WedgieFit jeans from Levi’s. In 2017, Beyoncé appeared in Levi’s jeans shorts during a concert at the Coachella festival.
Levi Strauss & Co sold shares in amount of $623.3 million. The cost of the shares reached $17, which is above the target range of $14-16 the Company expected.
The owner of Levi’s began trading on the New York Stock Exchange on March 21 under the LEVI ticker. Before the IPO began, CNBC sources talked about a possible valuation of the Company at $5 billion.
In 1971, Levi Strauss & Co already placed its shares on the stock exchange, but the Haas family (the heirs of Levi Strauss) completely bought them back in 1985.
Despite the trend of closing traditional stores due to competition with Amazon and other sites, owners of popular brands such as Levi’s continue to grow thanks to sales through online channels, Reuters notes.
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