Latest news with #ProjectFuel
Fashion Network
20-05-2025
- Business
- Fashion Network
Levi Strauss & Co to sell Dockers to Authentic Brands for $311 million
'The sale of Dockers allows us to further align our portfolio with our strategic priorities—focusing on our direct-to-consumer (DTC) approach, growing our international presence, and investing in opportunities in women's and denim categories,' said Michelle Gass, president and CEO of Levi Strauss & Co, in a press release. As part of its Project Fuel transformation plan, Levi Strauss has made several changes, including discontinuing its Denizen brand, mainly distributed in Asia; closing its Plock factory in Poland; and ending its footwear line. The company is also reducing its workforce and concentrating efforts on its flagship Levi's label and its athleisure brand, Beyond Yoga. 'Following a rigorous process, we are confident that we have maximized the company's value and that Authentic is the right organization to write the next chapter in Dockers' growth story,' Gass added. Dockers will join Authentic Brands Group 's extensive portfolio, which typically operates through licensing agreements with third-party manufacturers and distributors. ABG's holdings include Ted Baker, Jones New York, and shirt brands such as Van Heusen and Arrow. The group also owns preppy staple Izod and major U.S. casualwear names like Nautica and Eddie Bauer. 'Dockers is a natural fit for the Authentic model,' said Jamie Salter, founder, chairman, and CEO of Authentic. 'It's a brand with deep roots, high awareness, and a strong licensing foundation—exactly the attributes we look for when acquiring new brands. Dockers played a key role in shaping the casual workplace look we know today, and we see strong potential to build on that legacy across multiple categories.' The transaction remains subject to closing conditions and is expected to be finalized around July 31, 2025, for Dockers' intellectual property and operations in the United States and Canada. The rest of the brand's operations—including its presence in Europe and Asia, where Dockers maintains several stores and retail partnerships—are expected to transfer by January 31, 2026. During the transition period, Dockers will continue operating under Levi Strauss & Co's existing infrastructure.
Fashion Network
20-05-2025
- Business
- Fashion Network
Levi Strauss & Co to sell Dockers to Authentic Brands for $311 million
'The sale of Dockers allows us to further align our portfolio with our strategic priorities—focusing on our direct-to-consumer (DTC) approach, growing our international presence, and investing in opportunities in women's and denim categories,' said Michelle Gass, president and CEO of Levi Strauss & Co, in a press release. As part of its Project Fuel transformation plan, Levi Strauss has made several changes, including discontinuing its Denizen brand, mainly distributed in Asia; closing its Plock factory in Poland; and ending its footwear line. The company is also reducing its workforce and concentrating efforts on its flagship Levi's label and its athleisure brand, Beyond Yoga. 'Following a rigorous process, we are confident that we have maximized the company's value and that Authentic is the right organization to write the next chapter in Dockers' growth story,' Gass added. Dockers will join Authentic Brands Group 's extensive portfolio, which typically operates through licensing agreements with third-party manufacturers and distributors. ABG's holdings include Ted Baker, Jones New York, and shirt brands such as Van Heusen and Arrow. The group also owns preppy staple Izod and major U.S. casualwear names like Nautica and Eddie Bauer. 'Dockers is a natural fit for the Authentic model,' said Jamie Salter, founder, chairman, and CEO of Authentic. 'It's a brand with deep roots, high awareness, and a strong licensing foundation—exactly the attributes we look for when acquiring new brands. Dockers played a key role in shaping the casual workplace look we know today, and we see strong potential to build on that legacy across multiple categories.' The transaction remains subject to closing conditions and is expected to be finalized around July 31, 2025, for Dockers' intellectual property and operations in the United States and Canada. The rest of the brand's operations—including its presence in Europe and Asia, where Dockers maintains several stores and retail partnerships—are expected to transfer by January 31, 2026. During the transition period, Dockers will continue operating under Levi Strauss & Co's existing infrastructure.
Yahoo
09-04-2025
- Business
- Yahoo
Levi Strauss CEO says any price hikes related to tariffs will be ‘surgical'
Levi Strauss & Co. CEO Michelle Gass said that any price hikes the company makes due to President Donald Trump's tariffs would be "surgical." Gass, on an earnings call Monday, told analysts that the situation around tariffs is "very new" and "fluid" and that the company is just "getting our arms around it." She stopped short of specifying what those price increases would look like, saying "as we look at pricing, we do believe that the brand, especially given the health of the brand, that there is pricing power there. But if we do anything, it will be very surgical," Gass said during the call. Bill Ackman Calls For 90-Day 'Time Out' On Tariffs, Or Risk 'Self-induced, Economic Nuclear Winter' Gass took the helm in 2024 as the struggling retailer announced a multiyear global productivity initiative to turn around the business and boost profitability. Under the initiative, called Project Fuel, the retailer plans to optimize its operating model and structure, redesign business processes and identify opportunities to reduce costs while simplifying processes across the organization. It has since laid off dozens of workers out of its California office, and warned that more could come. Read On The Fox Business App Fed Chari Powell Says Tariffs Likely To Cause Inflation To Rise, Could Be Persistent With tariffs adding to its woes, Gass told analysts Monday that the company has assembled a task force to assess "the various scenarios and identifying what levers we have to mitigate," which could include "structural changes." The company sources from 28 countries, 20 of which are imported into the U.S. However, Gass said the company's supply chain "is more agile today than it ever has been" and that it "pivots" all the time. "We will continue to do so as we look to address the issues both in the short, medium and long-term," Gass said. Business executives have warned of the potential impact tariffs could have on the U.S. economy. BlackRock CEO Larry Fink said on Monday that the stock market could see declines deepen due to uncertainty over Trump's tariffs and that CEOs are telling him they think the U.S. economy is likely already in a recession. Also on Monday, JPMorgan Chase CEO Jamie Dimon told shareholders that the levies are likely to "increase inflation" on both foreign and domestic goods, and raised concerns over what their impact will be on America's economic article source: Levi Strauss CEO says any price hikes related to tariffs will be 'surgical'
