Through the acquisition, the American denim company will make its entry into the booming activewear segment after a pandemic year which saw job cuts and weakened sales. Levi Strauss expects the all cash transaction to add more than $100 million to its net revenue by the end of next year. It plans to expand the mostly digital, size-inclusive Beyond Yoga — which, according to Harmit Singh, chief financial officer of Levi Strauss, more than doubled its revenue and profitability in the last three years — to a wider, more global audience.
Beyond Yoga co-founder Michelle Wahler will continue on as chief executive of Beyond Yoga, a standalone division within the company, and report to Levi Strauss president and chief executive Chip Bergh.
“We are honored and excited to become a part of the Levi Strauss & Co. family,” said Wahler. “Joining their portfolio will enable us to accelerate our growth by leveraging the experience and resources of their team and their global infrastructure.”
The 167-year-old jeansmaker cared about running an ethical business before it became a marketing exercise. What happens to that commitment in a pandemic?