The American jeans giant Levi Strauss & Co has reached an agreement to sell the khaki manufacturer Dockers to Authentic Brands Group for 311 million dollars, equivalent to approximately 3 billion kronor.
The sale of Dockers is in line with Levi's strategy to focus on direct sales, international growth and to increase investments in women's clothing and in the denim segment, says CEO Michelle Gass in a statement.
Levi's attempted to sell Dockers already in the early 2000s when it had a sales revenue of one billion dollars per year. It never became a deal and Levi's explanation was that it was because they did not receive any "suitable" bids.
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