Dockers Stay Docked
Levi Strauss & Co., the San Francisco jeans maker that has been trying to turn its finances around, announced it will not sell its Dockers brand after all. The company was hoping to sell its Dockers unit for at least $800 million but could find no takers. Private equity firm Vestar Capital Partners made a bid but wanted to pay $650 million. The brand went up for sale last May to reduce Levi’s debt of about $2 billion. Chief Executive Officer Phil Marineau said Levi’s will create more value for the Dockers brand by keeping the business and driving continued development. Last year, Dockers made up 24 percent of the company’s $4.1 billion in sales.
