Levi Strauss IPO comes as denim market braces for year of corporate shake-ups.
Levi Strauss & Co. is heading back into the public spotlight as a year of change kicks off for denim makers.
But those aren't the only changes denim makers are facing. The category has been has been in flux as U.S. consumers shift from jeans to athleisure brands, and do more of their shopping online. Still, the U.S jeanswear market is forecast to improve though the pace of global denim sales are expected slow. As Levi Strauss goes public, it is looking at opportunities to sell more to women, and ring up more sales online and in China.
In the last five years, Nike, Adidas, Lululemon, Under Armour and Athleta have gained apparel share in the U.S. as Levi, True Religion, Gap, J. Crew, Banana Republic and Ralph Lauren have lost ground, according to Bernstein. Women's is a key growth target for Levi Strauss. Revenue in that segment grew by 25 percent from 2016 to 2017, and 29 percent from 2017 to 2018.
Levi notes in its prospectus that"despite recent challenges to chain retailers and department stores, primarily in the United States, net revenues from our top ten wholesale customers globally increased 8 percent year-over-year in fiscal year 2018."
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