Levi Strauss & Co. has unveiled plans for an initial public offering (IPO) that could generate $587 million, valuing the 165-year-old denim brand at up to $6.17 billion. The company, which last traded publicly in 1988, will offer 36.7 million shares priced between $14 and $16, according to regulatory filings.
The IPO follows a surge in denim demand driven by trends like high-waist and pinstriped styles. Recent financial results from competitors American Eagle Outfitters and Abercrombie & Fitch highlight strong performance in the sector, with denim sales as a key growth driver.
Proceeds from the offering will be used for strategic brand acquisitions, though no immediate takeover plans are outlined. The company reported $5.6 billion in annual net revenue in 2018 and aims to expand its global presence as a lifestyle brand for men and women.
Levi Strauss is also launching customer customization services, including tailor shops and print bars where consumers can design personalized denim products. The San Francisco-based firm will list under the ticker symbol "LEVI" on the New York Stock Exchange, with Goldman Sachs, JPMorgan, and other major banks managing the underwriting.
A 2016 photo of a Levi's denim jacket in Frankfurt, Germany, accompanies the filing, underscoring the brand's longstanding global reach. The IPO follows similar moves by tech firms like Uber, Lyft, and Airbnb in 2019.
