Deals
Levi Strauss Roils Apparel Industry With IPO Announcement
- Company says cash could be used to carry out acquisitions
- Competitors’ shares drop sharply after IPO filing unveiled
A shopper enters a Levi Strauss & Co. store.
Photographer: Martina Albertazzi/BloombergThis article is for subscribers only.
Levi Strauss & Co. filed for a public offering -- a sign the iconic maker of denim pants and jackets is betting it can overcome growing competition in the apparel industry.
It filed paperwork with an initial offering size of $100 million, a placeholder amount that’s used to calculate fees and will typically change. CNBC reported that the denim maker is looking to raise $600 million to $800 million. The company’s ticker would be LEVI.