Exciting news for the Levi Strauss & Co. fans! LS&Co. has just announced that it will be purchasing the activewear brand, Beyond Yoga.
It’s stated that the transaction will be financed with cash and is expected to close during the fourth quarter of 2021.
For those who don’t know, Beyond Yoga is a fast-growing, premium athletic and lifestyle apparel brand that’s based in the USA.
This acquisition will bring the Beyond Yoga brand to even more customers through direct-to-consumer expansion, including brick-and-mortar retail, and further development of it’s wholesale footprint.
Jodi Guber Brufsky, founder and chief creative officer of Beyond Yoga, spoke on the deal in a release, “I have always had one goal: to make women feel good in their bodies. Beyond Yoga was created with this mission in mind, and it has served as the touchstone of the company. It was important to me that when the time came, the company would move into the hands of someone whose values matched ours. We are so excited about this partnership and look forward to a successful future.”
Now, LS&Co. is able to enter the activewear category and therefore expand its product offerings. So, it’s a total win-win for both brands.
Chip Bergh, president and chief executive officer of LS&Co. Said in a release, “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.”
We can’t wait to see what’s in store for the future of this deal!
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