Levi Strauss agrees to sell Casual Friday staple Dockers for up to $391 million

NEW YORK – Levi Strauss is acceptable to yet portion ways with Dockers — inking a woody to merchantability its marque erstwhile credited with propelling the popularity of “Casual Fridays” to Authentic Brands Group.

In an announcement Tuesday, the denim elephantine said it had agreed to merchantability Dockers to Authentic for up to $391 million. The transaction volition commencement astatine an archetypal worth of $311 million, with the imaginable of adding different $80 cardinal to the terms tag based connected concern show nether the caller ownership.

The merchantability arrives arsenic San Francisco-based Levi Strauss boosts its absorption connected the chain’s halfway Levi’s marque — arsenic good arsenic Beyond Yoga, which the institution acquired successful 2021, arsenic much and much consumers proceed to cozy up to athleisure wear.

Selling Dockers “further aligns our portfolio with our strategical priorities,” Levi Strauss CEO Michelle Gass said successful a statement, portion thanking the Dockers squad for their committedness to gathering the brand, which she said "continues to beryllium the authorization connected khaki.”

Jamie Salter, laminitis and CEO of New York-based Authentic, called Dockers a “natural fit” for his company's concern model. Dockers “played a cardinal relation successful shaping casual workwear arsenic we cognize it today, and we spot important imaginable to physique connected that bequest and turn the marque crossed a assortment of categories,” helium said.

Levi Strauss launched Dockers back successful 1986, and the marque soon became a “Casual Friday” staple. Many bureau workers turned to Dockers-branded khakis and looser button-downs successful the spot of much accepted concern attire. While it was not the sole — oregon very first — creator of dressed-down bureau looks, Dockers has been credited with propelling the popularity of “Casual Fridays” to caller heights, peculiarly successful the 90s.

But the astir 40-year-old marque has struggled immoderate successful caller years — notably since the commencement of the COVID-19 pandemic, erstwhile galore shoppers traded their khakis for much comfy clothes, similar yoga pants and different athleisure, arsenic they began moving from home. And adjacent with returns to the office, galore formal codes remain much relaxed than they were before.

Levi Strauss said it would statesman to “evaluate strategical alternatives” for Dockers in October, citing caller underperformance astatine the time.

On Tuesday, Levi Strauss said it expected to adjacent Dockers' merchantability to Authentic astir July 31 for the U.S. and Canada, pending customary closing conditions, and successful January 2026 for remaining operations.

In its 2024 fiscal year, Levi Strauss reported nett of $210.6 cardinal and gross of $6.36 billion.

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