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A $2.5 Billion Blue Jeans Fortune Emerges With Levi's IPO Plan

Iconic apparel maker files for an IPO as it expands overseas
Founder’s descendants own 59% of the company started in 1873

Piles of jeans sit displayed for sale inside a Levi Strauss & Co. fashion store in London.Photographer: Chris Ratcliffe/Bloomberg

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By Devon Pendleton

February 13, 2019 at 7:08 PM UTC

This article is for subscribers only.

Levi’s are proving an enduring wardrobe investment for the descendants of the inventor of blue jeans.

The Haas family, which traces its lineage to company founder Levi Strauss, owns almost 59 percent of the San Francisco-based apparel maker that filed for an initial public offering on Wednesday. The firm is said to be valued at $5 billion, according to CNBC, giving the family a combined net worth of at least $2.5 billion.