(Reuters) – Levi Strauss announced on Tuesday the upcoming sale of dockers, its cult brand, at Authentic Brands Group, owner of Reebok and Van Heusen, for $ 311 million (276.54 billion euros), in order to focus on traditional Levi’s and its line of Beyond Yoga sports clothes.
Last October, Levi Strauss announced his intention to sell Dockers in order to focus on his main brands and stimulate his growth with direct sales stores to consumer, at full prices.
“The Dockers transaction makes it possible to align our portfolio more on our strategic priorities, by focusing on our direct consumer approach (DTC), developing our international presence and investing in opportunities in the fields of female fashion and ‘Denim Lifestyle’,” said Michelle Gass, general manager of Levi Strauss, in a press release.
Dockers’ products have represented 5% of Levi’s net revenues for each of the 2024, 2023 and 2022 exercises, according to documents filed by the company.
The sale is expected to be finalized by the end of July for activities in the United States and Canada, other global activities to be closed by January 2026.
The company plans to use $ 100 million in the sale product for share buybacks.
(Written by Neil J Kanatt in Bangalore, Mara Vîlcu for the , edited by Augustin Turpin)
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