Levi Strauss and Co (Levi’s) has announced the acquisition of premium athletic and lifestyle apparel brand Beyond Yoga for an undisclosed cash consideration.
Following the expected close of the deal in Q4 FY21, Beyond Yoga will be brought to more consumers via brick and mortar retail, gender and category growth, and wholesale footprint development.
Levi’s will also support the US-based group in growing globally as it looks to capitalise on the uptake of premiumisation, casualisation, and wellness trends.
Chip Bergh, president and CEO at Levi’s, said that the takeover of the brand with “tremendous growth potential” will help establish a foothold in the “fast-growing activewear segment”.
He added: “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.”
Beyond Yoga is set to now act as a standalone arm within Levi’s, with co-founder Michelle Wahler continuing as CEO at the group and reporting to Bergh.
She said: “We are honored and excited to become a part of the LS&Co family. Joining their portfolio will enable us to accelerate our growth by leveraging the experience and resources of their team and their global infrastructure.
“We are thrilled to have LS&Co help us expand our brand to a wider audience, as we continue to promote our mission of inclusivity and acceptance for all.”