US-based apparel maker, Levi Strauss & Co, has announced plans to return to the stock market. Following recent years of profit growth and strong sales, Levi’s 166-year-old brand breaks a 34-year absence from the market.
At this stage, the company has not set a price range or goal for how much it plans to raise—a $100 million sum has been established as a placeholder.
Levi’s originally applied to trade on the New York Stock Exchange in 2018, posting a revenue of US$5.58 billion—a 14 percent increase from the previous year. The company plans to use the proceeds for ‘general corporate purposes.’