Denims maker Levi Strauss & Co has disclosed plans for a return to Wall Avenue for the primary time in three a long time.
The 146-year-old firm – one of many world’s greatest denim manufacturers, credited with the invention of blue denims – stated in a regulatory submitting that it deliberate to boost about $100m.
The variety of shares and value vary has but to be decided. A CNBC report final November estimated that the corporate might be value round $5bn.
Levi’s, which is managed by the descendants of founder Levi Strauss, made its first pair of denims in 1873.
It was publicly traded from 1971 till 1985 when it was taken non-public in a buy-out – the identical 12 months it launched its well-known launderette advert for Levi’s 501s.
Shares might be listed on the New York Inventory Change underneath the “LEVI” ticker image.
Newest annual outcomes for the corporate confirmed gross sales up 14% to $5.6bn and earnings flat at $281m.
Levi’s sells its merchandise at greater than 50,000 retail areas together with three,000 standalone shops and concessions throughout 110 international locations – underneath the Levi’s, Dockers and Denizen manufacturers.
It faces altering client tastes as many consumers go for cheaper retailer manufacturers and “athleisure” put on, although some see indicators of a rising demand for its providing.
Jane Hali, head of funding analysis agency Jane Hali & Associates, stated: “Denim is doing a lot better than it has up to now and Levi’s has the flexibility to be mass market.”