- Levi Strauss & Co said on Monday it expects to raise as much as $587 million through an initial public offering , giving it a value of up to $6.17 billion as the jeans maker returns to the market after three decades.
The IPO comes at a time when demand for denim is surging, driven by new styles such as high-waist and pinstriped jeans. Smaller rivals American Eagle Outfitters and Abercrombie & Fitch posted strong results last week, boosted by robust denim sales. The 165-year-old company, known for inventing blue jeans, said it wants to evolve into a full-fledged global lifestyle leader for both men and women.
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