Levi Strauss & Co hopes to sell $587 million worth of shares in an upcoming retu...
- Levi Strauss & Co hopes to sell $587 million worth of shares in an upcoming return to the stock market after three decades, which would value the inventor of blue jeans at $6.17 billion and give it a potful of cash to invest in broadening its product range.
“The valuation is fair and as expected. It is also a good time for Levi’s to go public due to the resurgence of 80s’ blue jeans fashion,” said Eric Schiffer, chief executive officer of California-based private equity firm Patriarch Organization. The 165-year-old company, however, aims to evolve into a full-fledged global lifestyle leader for both men and women.
The descendants of founder Levi Strauss, the Hass family, will retain 80 percent of voting control in the company following the IPO, the filing showed.
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