American clothing manufacturer Levi Strauss & Co announced its readiness to enter the New York Stock Exchange.
Levi's management sent documents for consideration to the US Securities and Exchange Commission.
Today, the business of one of the most recognizable denim brands is valued at $6.4 billion. According to the results of 2018, the company recorded an increase in revenue for 14%, up to $5.6 billion. The main shareholders of Levi's are six members of the Haas family, who own a total of 63% shares of the company.
As part of the upcoming IPO, Levi Strauss & Co expects to raise about $ 100 million, follows from documents sent to the US Securities and Exchange Commission. The placement is expected to take place in the first quarter of 2019. For the first time, Levi's securities were placed on the stock exchange in 1971, but after 14 years the shares were completely redeemed by the Haas family.
To date, Levi's branded clothing is sold in more than 50,000 stores worldwide. Analysts agree that the company has chosen the right time for an IPO, and demand for denim classics will grow in the coming years. In 2018, the sales of denim clothing in the market increased by 5%. The NPD Group estimates that the US jeans market is worth $16.4 billion a year.