Levi Strauss to acquire athleisure apparel brand Beyond Yoga
Levi Strauss & Co. (LS&Co.) has agreed to acquire US-based athleisure apparel brand Beyond Yoga for an undisclosed price.
The American clothing company said that the acquisition of Beyond Yoga helps its foray into the high-growth activewear segment and diversifies its business further.
According to Levi Strauss, the acquisition will take the Beyond Yoga brand to more consumers via direct-to-consumer expansion and further development of the wholesale presence with premium partners.
Chip Bergh — president and CEO of Levi Strauss said: “This acquisition establishes LS&Co.’s presence in the fast-growing activewear segment with a brand with tremendous growth potential.
“The foundation the Beyond Yoga team has built, combined with LS&Co.’s resources, global reach and scale, make me confident that Beyond Yoga will become a powerful growth engine for LS&Co. and help drive our strategic priorities.
“Beyond Yoga’s values-led approach to business, centered on inclusivity and authenticity, makes it a natural fit to our company portfolio.”
After the closing of the deal, Beyond Yoga will operate as an independent unit within Levi Strauss with its co-founder Michelle Wahler to continue as CEO. Michelle Wahler will report to Chip Bergh.
The Beyond Yoga CEO said: “We are honored and excited to become a part of the LS&Co. family. Joining their portfolio will enable us to accelerate our growth by leveraging the experience and resources of their team and their global infrastructure.
“We are thrilled to have LS&Co. help us expand our brand to a wider audience, as we continue to promote our mission of inclusivity and acceptance for all.”
The deal, which is subject to customary closing conditions, is anticipated to close during Q4 2021.