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Levi Strauss to acquire Beyond Yoga apparel brand

Aug 10, 2021
Levi Strauss to acquire Beyond Yoga apparel brand

San Francisco

Levi Strauss & Co has decided to buy the yoga apparel brand Beyond Yoga. This acquisition will launch Levi into the activewear market.

The size of the all-cash deal has not been disclosed by Levi but it is expected that this acquisition is going to add more than $100 million to its net revenue and will shoot up its earnings. According to Chip Bergh, CEO, Levi, the company has been looking for an acquisition for quite some time now. The activewear space looks very attractive as it has enormous growth potential.

As per the company, once the transaction is done, Beyond Yoga will operate as a standalone division within its business. Michelle Wahler, the Co-Founder of the company will continue to serve as the CEO of Beyond Yoga and will report to Bergh.

As per Harmit Singh, CEO, Levi, the revenue of Beyond Yoga has doubled and its profitability has doubled in the past three years.

Bergh also said that Levi is planning to expand the Beyond Yoga brand outside of the United States. It wants to open more brick-and-mortar stores. He feels that this deal will help Levi to grow its women’s business. The aim is to grow this sector to 50%, he added.  Bergh also said that once people will start returning to the office, they will still prefer casual clothing and even athleisure-type products.

Source – CNBC

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