Levi's is expected to raise over $600 million in its IPO on Thursday, at a valuation of $6.6 billion.Levi Strauss, one of America’s oldest companies and the inventor of the blue jean, will begin its second stint as a public company on Thursday.
Levi’s relaunched its women’s line in 2015 with a number of new styles and a four-way stretch fabric designed for comfort. Customers took notice. In 2016, Kylie Jenner posed on Instagram wearing a pair of Levi’s Wedgie Fit jeans. In 2017, Beyoncé wore a pair of its cutoff jean shorts during a performance at Coachella.
In 2018, the company recorded net income of $283 million. Revenue rose 14% to $5.6 billion. That is up from net income of $135 million on revenue of $4.8 billion in 2011. The company has also paid down some $1 billion in debt since 2011. This is Levi’s second stint on the public markets. The company, which was started by Bavarian immigrant Levi Strauss in 1853 as a wholesale dry goods business and patented the use of metal rivets to reinforce the seams in work pants, went public for the first time in 1971. Then, in 1985, it was taken private by the Haas family in a leveraged buyout.
I bought a bunch of little $LEVI jeans for my son who will be here any day now. Their baby stuff is adorable.
Levi's will never go out of style & these guys stay with the trends (baggy = 90's, Skinny = Early 2000's, Hipster = Present day) Plus they're always discounted out major retailers (i.e. Kohls)
Levi's jeans for life
My favorite jeans
Now it's time for Levi Ackerman to make a comeback as humanity's strongest
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Source: CNBC - 🏆 12. / 72 Read more »
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