Levi Strauss seeks $6.2bn valuation as it prepares to float
Levi Strauss is seeking a $6.2bn valuation as it gears up to return to public ownership through a stock marketing listing in New York.
The iconic denim brand, founded 166 years ago, has said it expected to raise $587m through taking the brand public after 30 years as a private company.
It plans to invest the funds raised in creating a global fashion and lifestyle brand and would be seeking to attract younger shoppers through initiatives such as personalisation and customisation.
Funds raised may also be used to fund acquisitions it said, but there are no immediate plans to carry out any buy-outs.
The San Francisco-headquartered company, which last year achieved revenues of $5.6bn, plans to float nearly 37m shares, or about 10% of the enlarged equity, at between $14 and $16 and will trade under the stock market ticker LEVI.