Levi Strauss & Co said it sold $623.3 million in shares in its initial public offering on Wednesday, as the U.S. jeans maker looks to return to the stock market after 34 years as a family-owned company.
The success of the IPO underscores the diverging fortunes of retail companies. Tens of thousands of brick-and-mortar stores have closed in the last few years under pressure from e-commerce firms such as Amazon.com Inc, but vendors with consistently popular offerings such as Levi have flourished, as they reach more shoppers through online channels.
Source: News Formal (newsformal.com)
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