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Levi goes public, with jeans on the commercial floor



Levi Strauss & Company, the denim company that tracks its roots for the days of the California Gold Rush, began trading publicly on Thursday for the second time in its 165-year history.

The company's shares were priced at $ 17 each, giving it a valuation of approx. 6.6 billion The stock opened at $ 22.22 and jumped into trading at noon in New York, where the stock market suspended its ban on wearing jeans for the day.

Levi, who sells jeans and Dockers, has undergone a turn for the best part of The Last Decade under its CEO Charles V. Bergh, who joined the company in 201

1. While the San Francisco company has not yet returned to its peak in the 1990s, Mr. Bergh monitored an increase in sales to 5.6 billion. last year, with a profit of $ 285 million.

165-year-old business .]

The company was founded by Levi Strauss, who immigrated to the United States from Bavaria and set up business in San Francisco in 1853 with a wholesale company . Twenty years later, he and a business partner received a patent for "waist overalls" with metal rivets at points of tension – a garment known as the blue jean.


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