Levi Strauss & Co to acquire Beyond Yoga
Levi Strauss & Co is to acquire the Beyond Yoga premium athletic and lifestyle brand.
The purchase will be financed with cash and is expected to close during the fourth quarter of 2021, subject to customary closing conditions.
In a statement, Levi Strauss & Co said the acquisition will enable it to enter the activewear category and will compliment its growing women’s business. In addition, it will bring the Beyond Yoga brand to more consumers through direct-to-consumer expansion, including bricks-and-mortar retail, gender and category growth, and the further development of Beyond Yoga’s wholesale footprint with premium partners.
Chip Bergh, president and chief executive of Levi Strauss & Co, said: “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. We look forward to welcoming the Beyond Yoga team to LS&Co.”
Beyond Yoga has more than doubled its revenue and grown profitability over the last three years. Established in 2005, the company has headquarters in Los Angeles and is 85% female led.
Following completion of the transaction, Beyond Yoga will operate as a standalone division within Levi Strauss & Co and co-founder Michelle Wahler will continue to serve as chief executive while reporting to Bergh.
Wahler said: “We are honoured 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.”