Levi Strauss to acquire athletic wear maker Beyond Yoga, Retail News, ET Retail

Levi Strauss & Co. stated on Thursday it would get apparel maker Over and above Yoga for an undisclosed amount of money, as it looks to grow its presence in the profitable leggings group that boomed all through the COVID-19 pandemic.

Attire vendors, including American Eagle Outfitters Inc and Abercrombie & Fitch Co, have been ramping up their exposure to the kind of apparel that can be worn at dwelling such as shorts and tanks, as need for the things surged all through pandemic-led lockdowns that stored folks indoors.

Levi Strauss stated Over and above Yoga, which focuses on overall body constructive apparel, would function as a standalone division, and perhaps contribute about $one hundred million to the firm’s web profits in fiscal 2022.

Previous month, Levi’s shares climbed immediately after the company forecast a solid total-year earnings fueled by a more rapidly-than-envisioned rebound in need for its jeans, tops and jackets.