.LEVIS is taking on the athleisure market with Chip Bergh’s first acquisition as CEO.
The jeans giant is buying Beyond Yoga, jumping into the premium athleisure market with a quickly growing brand based on body inclusivity.
While athleisure is a trend that has been championed and developed by a number of larger brands, especially Lululemon and Athleta, Bergh described the space as “where the puck is headed” in fashion. The brand is expected to add more than $100 million in sales to Levi’s next year and be “immediately accretive to gross margins.” Beyond Yoga more than doubled its revenues over the past three years while also boosting its profitability.
“It’s a competitive space, but we have always been very heads down and focused and we’re authentic and values-led and I think that really resonates with the customer,” Wahler said. Having Beyond Yoga onboard will also bring some additional outside energy into Levi’s. As Singh said, “innovation and entrepreneurship — bring it.”
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