For the first time in more than three decades, investors can buy shares of Levi Strauss & Co., the world's biggest jeans seller.
This week denim lovers will get the opportunity to invest in more than just a pair of Levi 501s. For the first time in more than three decades, investors can buy shares of the world's biggest jeans seller.
A key reason Levi Strauss is going public is that an IPO allows the founder's descendants to cash-out some of their holdings, yet retain control because of the dual-class shareholder structure. It also will give the company a financial boost to invest in its business and potentially sweeten compensation for its employees.
The Haas family"has transitioned to professional managers, so the [family] really isn't involved in managing Levi Strauss, and we have a company with a history of managing profitability and sales," Smith said. Euromonitor data show the other top four jeans players in both the U.S. and the world are all publicly traded, or owned by publicly traded companies. In the U.S., Wrangler is the second-biggest jeans brand by sales, followed by Old Navy , American Eagle Outfitters and Target. Worldwide, Zara is second to Levi, H&M is the third-largest jeans seller, VF's Wrangler and Lee are fourth and fifth, respectively.
Levi Strauss is headquartered in San Francisco, making the fight for great talent even more competitive as the Bay Area and nearby Silicon Valley are home to companies from Gap to Google, Facebook, SalesForce and many more. Going public, adds another attractive characteristic for many job seekers.
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