Jeans maker Levi Strauss files for stock market comeback
The 145-year-old company could be valued at $5bn when it debuts, says report
Bengaluru — Jeans maker Levi Strauss on Wednesday filed documents to list itself on the New York Stock Exchange, seeking to return to public markets after more than three decades. Levi's, one of the world's biggest denim brands and the inventor of blue jeans, faces rapid changes in consumer tastes as people shop for cheaper store brands and athleisure apparel. Last year, rival VF Corporation said it would spin off its less profitable Wrangler and Lee jeans business into a publicly traded company, allowing it to focus on Vans and its outdoor wear businesses to help improve profit margins. The 145-year-old company, which intends to list as "LEVI", set a placeholder amount of $100m to indicate the size of the IPO. The final size of the IPO could be different. The San Francisco, California-based company could be valued at about $5bn when it debuts, a CNBC report said in November. Levi's is controlled by the descendants of founder Levi Strauss. It is required to post quarterly earnings w...
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