Bank of Japan Eyes April Rate Hike Despite Inflation Dip, ING Says 
UK Consumer Confidence Weakens Amid Middle East Conflict and Rising Living Costs 
SpaceX IPO Filing Expected This Week as Valuation Could Surpass $75 Billion 
CK Hutchison's Panama Ports Dispute Escalates as Arbitration Claims Surpass $2 Billion 
Valero Port Arthur Refinery Explosion Prompts $1M Lawsuit Over Worker Safety Negligence 
Asian Currencies Weaken as Dollar Rebounds Amid Middle East Uncertainty and Japan Inflation Data 
Oil Prices Rebound as Iran Denies U.S. Talks Amid Gulf War Supply Fears 
Iran-Israel Missile Strikes Continue Amid Mixed Signals on U.S.-Iran Diplomacy 
Air Canada Express Crash at LaGuardia: Controller Distracted by Prior Emergency 
Oil Prices Plunge Over 6% as Middle East Ceasefire Hopes Ease Supply Fears 
Asian Currencies Stay Muted as Dollar Holds Firm Amid Iran Uncertainty 
Time to buy local: war fuel price shocks reveal the folly of a long food supply chain 
WTO Reform Talks Begin in Cameroon Amid Global Trade Tensions 
Lynas Rare Earths Signs Vietnam Deal with LS Eco Energy to Boost Magnet Metal Production 
9 Tips for Avoiding Tax Season Cyber Scams 
Berkshire Hathaway and Tokio Marine Form Major Strategic Insurance Partnership 
Gold Prices Surge on U.S.-Iran Ceasefire Reports 
Levi Strauss & Co., the American clothing company, known around the world for its Levi's brand of denim jeans, revealed on Thursday, Aug. 5, that it will be acquiring Beyond Yoga, the apparel maker that produces athletic wear and more.
According to Reuters, Levi Strauss & Co. did not disclose the amount it will be investing for the purchase of Beyond Yoga. The San Francisco-based denim maker is looking to expand its business to the exercise and training clothing category.
It was mentioned that other clothes companies such as Abercrombie & Fitch Co. and American Eagle Outfitters Inc. are also venturing into the production and selling of apparel that can be worn at home as more people are staying inside their houses during the pandemic.
This means that these well-known brands are also expanding their businesses to more comfortable clothes like shorts, leggings, and tanks. Besides, the demand for such types of clothing has surged since the lockdowns have started. This is the time when people around the world were ordered to stay indoors.
At any rate, Levi Strauss and Co. said that Beyond Yoga will be operating as a standalone unit even after the acquisition deal is completed. It was estimated that the newly acquired activewear company may potentially add more than $100 million to Levi’s net revenue for 2022.
“This acquisition establishes LS&Co.’s presence in the fast-growing activewear segment with a brand with tremendous growth potential,” Levi Strauss & Co. president and chief executive officer, Chip Bergh, said in a press release. “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.”
Now, since Beyond Yoga will operate as an independent unit within Levi’s company, its current CEO and co-founder, Michelle Wahler, will remain in her position but will be reporting to Chip Bergh.
Wahler said via the release that Beyond Yoga is excited to work with and be part of Levi Strauss & Co. She added that this acquisition deal will allow the company to grow further. “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,” she said.
