Levi Strauss co. said on Thursday it would buy the apparel maker Beyond Yoga for an undisclosed amount as it looks to expand its presence in the lucrative leggings category that boomed during the COVID - 19 pandemic.
Apparel retailers, including Abercrombie Fitch Co and American Eagle Outfitters Inc. have been ramping up their exposure to the kind of apparel that can be worn at home such as shorts and tanks, as demand for the items surged during pandemic lockeddowns that kept people indoors.
Levi Strauss said Beyond Yoga, which focuses on body positive apparel, would operate as a standalone division and potentially contribute more than $100 million of the company's net revenue in fiscal 2022.
Last month, Levi's shares climbed as the company forecasted a strong full-year profit fueled by a faster than expected rebound in demand for its jeans, tops and jackets.