Wearing well: Levi Strauss shares surge 31pc on market return

Levi Strauss CEO Talks IPO 'This Brand Stands For Everything Good About America'

Levi Strauss CEO Talks IPO 'This Brand Stands For Everything Good About America'

Following the initial public offering price of $17 per share, San Francisco's Levi Strauss & Co. closed at $22.41 per share on March 21, up $5.41, a 31.82 percent increase.

The 165-year-old company's return to the public market comes at a time when stocks are near all-time highs and the popularity of denim is surging, driven by the resurgence of the 90s styles such as high-waist and pinstriped jeans.

Levi's proving to Wall Street there's staying power for a legacy name that dates back to 1853 when its namesake founder started a wholesales dry goods business in San Francisco. At the close, Levi rose 32 percent to $22.41. Its products are also sold in more than 110 countries worldwide through a combination of chain retailers, department stores, online sites.

The brand has since had its ups and downs in terms of its cultural relevance but has been seen as again rising under Chief Executive Charles Bergh, who joined Levi's in September 2011 after a lengthy stint at Procter & Gamble. Jeans sales appear to be on an upswing in the United States, increasing 2.2% to $16.7 billion last year after four straight years of declines, according to data from Euromonitor. Levi's men's business accounted for $4 billion of its $5.6 billion 2018 revenue, remaining the "key driver of its profits", according to the company.

Priyanka Chopra, Meghan are 'still close' despite feud reports
The news comes after a source recently told E! Meanwhile, Chopra attended Markle's royal wedding to Prince Harry in May 2018. Earlier this week another source quashed rumours of a rift between the pair and hinted that they're closer than ever.

"Things go in waves", says Marie Driscoll, managing director of luxury and fashion at Coresight Research. "There's alot of competition, but Levi's has always been the brand in denim".

Levi's 501 blue jeans by USA clothing manufacturer Levi Strauss.

1928: Levi Strauss & Co. registers the Levi's name as a trademark. That means that the Strauss's descendants will still exert big influence over the company's major decisions.

Levi's said in the filing that China represents 20 percent of the global apparel market but just three percent of its revenues, a potential growth market for which the company recent tapped a new management team. "We're here to run the business for the long term".

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