THE WHAT? Levi Strauss & Co has announced the planned acquisition of Beyond Yoga. The transaction will be financed with cash and is due to close in the fourth quarter of 2021, subject to regulatory approval. Financial and operational terms of the deal will be disclosed on closing.
THE DETAILS The deal will see Levi Strauss & Co enter the activewear category for the first time, complementing its existing women’s business.
Following completion, Beyond Yoga will operate as a standalone division within Levi Strauss & Co. Co-founder Michelle Wahlar will remain in situ as CEO, reporting to Chip Bergh, President and CEO at Levi Strauss & Co.
THE WHY? The acquisition will bring the activewear brand to more consumers via DTC expansion, including bricks and mortar retail, gender and category growth and further development of wholesale with premium partners. As Bergh explains, “This acquisition establishes LS&Co.’s presence in the fast-growing activewear segment with a brand with tremendous growth potential. 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.”