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Levi Strauss & Co. is venturing into activewear by buying Beyond Yoga for an undisclosed amount, both companies said Thursday.
Jeans maker Levi
LEVI,
will buy the premium activewear and lifestyle brand in a cash deal that’s expected to close in the fourth quarter, bolstering its presence in women’s wear.
Beyond Yoga, a female-founded and female-run Los Angeles-based competitor of Lululemon Athletica Inc.
LULU,
and other makers of leisure and activewear, will be a standalone division of San Francisco-based Levi.
“This acquisition establishes LS&Co.’s presence in the fast-growing activewear segment with a brand with tremendous growth potential,” Chip Bergh, president and chief executive of Levi, said in a statement.
The companies plan to use Levi’s brand and reach to “significantly expand” Beyond Yoga, they say. The transaction is expected to add $100 million to Levi’s net revenue in fiscal year 2022, according to the news release.
