Levi Strauss is selling its Dockers brand to Authentic Brands Group for up to $391 million, with the goal of concentrating on its primary Levi's label and Beyond Yoga. The initial sale value is $311 million, with potential for an additional $80 million based on performance. The transaction reflects changing consumer habits towards athleisure wear, which have impacted Dockers' sales, a brand that historically contributed to the Casual Friday trend. Leaders from both companies express optimistic views for Dockers' future growth in the casual workwear sector.
The sale arrives as San Francisco-based Levi Strauss boosts its focus on the chain's core Levi's brand as well as Beyond Yoga, which the company acquired in 2021.
Dockers played a key role in shaping casual workwear as we know it today, and we see significant potential to build on that legacy and grow the brand.
While it was not the sole creator of dressed-down office looks, Dockers has been widely-credited as an integral part to Casual Friday's rise, particularly in the 90s.
The nearly 40-year-old brand has struggled some in recent years notably since the start of the COVID-19 pandemic, when many shoppers traded their khakis for more comfortable clothes.
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