Levi Strauss & Co. said on Thursday that it will acquire Beyond Yoga for an unknown sum in order to extend its foothold in the lucrative leggings sector, which surged during the COVID-19 epidemic.
Apparel shops such as American Eagle Outfitters Inc and Abercrombie & Fitch Co have increased their exposure to home-wear goods like shorts and tanks, as demand for the items increased amid pandemic-caused lockdowns that kept people indoors.
Beyond Yoga, which focuses on body positive gear, will function as a separate business and may add more than $100 million to the company’s net revenue in fiscal 2022, according to Levi Strauss.
Levi’s stock rose last month as the firm forecasted a high full-year profit, powered by a faster-than-expected resurgence in demand for its jeans, shirts, and jackets.
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