Beyond Yoga, an athletic clothing company will be acquired by Levi Strauss

6TH AUG 2021, MUMBAI:

Beyond Yoga, which focuses on body positive gear, will operate as a separate business and may add more than $100 million to Levi Strauss' net revenue in fiscal 2022, according to the firm.

Levi Strauss & Co. said on Thursday that it will acquire Beyond Yoga, a clothing company, for an unknown sum, as it seeks to extend its position in the profitable leggings category, which grew in popularity during the COVID-19 epidemic. During pandemic-related lockdowns that confined people indoors, fashion shops like American Eagle Outfitters Inc and Abercrombie & Fitch Co have been increasing their exposure to the type of clothes that can be worn at home, such as shorts and tanks.

Beyond Yoga, which focuses on body positive gear, will operate as a separate business and may add more than $100 million to Levi Strauss' net revenue in fiscal 2022, according to the firm. Levi's stock soared last month as the firm predicted a high full-year profit, boosted by a faster-than-expected resurgence in demand for its denim, shirts, and jackets. 

https://www.linkedin.com/feed/update/urn:li:activity:6829676149791100928

Top 5:

1. House of Anita Dongre's joins CanopyStyle and Pack4Good initiatives

2. Arvind Ltd’s exports to EU, UK and US to surge in Q2 FY’21

3. The Titan Company’s Q1 income rises to Rs 3,519 crore

4. Pandemic supports the growth of local handloom industry in India

5. Despite sales declines in China, Adidas raises its outlook