Levi Strauss & Co. has filed for an IPO and will be listed on the New York Stock Exchange under the ticker symbol “LEVI.” The number of shares to be offered and the price range for the proposed offering have not yet been determined.
Levi’s performance was strong last year: the retailer reported $5.6 billion in net revenue for the fiscal year ended Nov. 25, 2018, up 14% from the previous year. The company reported an 18% increase for its direct-to-consumer business, driven by both e-Commerce and Levi’s growing retail network, which included 74 company-owned store openings in 2018. The brand has approximately 3,0000 retail shops and stores-within-stores worldwide.
Levi’s is one of the prominent retailers taking political stands to draw like-minded shoppers to its brands. Chip Bergh, President and CEO of Levi Strauss & Co., noted that the company has a “long history of not being afraid to take stands on social issues” at the 2019 NRF Big Show. The company has recently opposed the Trump administration’s Muslim travel ban and its rescinding of protection for the DACA “Dreamers” program.
The denim retailer also has been bolstering its business through partnerships: the brand operates a denim tailoring shop in Nordstrom’s first Men’s store in New York City. The space lets shoppers purchase Levi’s apparel, design custom embroidery on any denim item, heat press shirts, or get an express hem or other alterations.