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2d ago

Levi Strauss Sells Dockers Brand to Authentic Brands Group for $311 Million

The deal realigns Levi's strategy around core denim and direct-to-consumer growth while positioning Dockers for global expansion under new ownership.

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FILE - A Levi's banner adorns the facade of the New York Stock Exchange, Thursday, March 21, 2019. (AP Photo/Richard Drew, File)
A logo is displayed on a pair of jeans at the Levi’s outlet retail store at Bicester Village in Oxfordshire, Britain, August 21, 2024. REUTERS/Hollie Adams/File Photo

Overview

  • Levi Strauss has finalized the sale of its Dockers brand to Authentic Brands Group for $311 million, with potential earn-outs of up to $80 million based on future performance.
  • Authentic Brands Group will own Dockers' intellectual property and plans to expand the brand internationally through its network of 1,700 licensing partners.
  • Centric Brands will manage Dockers' manufacturing, sourcing, and distribution operations under the new ownership structure.
  • Levi's CEO Michelle Gass stated the sale aligns with the company's focus on its core denim business, direct-to-consumer strategy, and growth in women's apparel.
  • Dockers, launched in 1986 as a khaki alternative to denim, will be reimagined for a new generation as Authentic explores opportunities in Latin America, Europe, the Middle East, and Asia.