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00:00:00
after more than three decades Levi Strauss Cinco is back on the public market shares of the jeans maker surged thirty one percent in their debut Thursday giving the one hundred sixty five year old company a market value of nearly nine billion dollars indicating a strong appetite to own a part of the denim giants to celebrate the occasion the New York Stock Exchange broke from its strict dress code and allows jeans on the floor traders took full advantage the San Francisco based retailer that invented blue jeans in the late nineteenth century is listing shares just as the eighties blue jeans fashion makes a comeback Levi's has been working to attract young customers and plans to expand this tailor shop and print bar where shoppers can customize your Levi's products the company is controlled by the descendants of founder Levi Strauss the has family which will keep eighty percent of voting control following the listing Levi's which also sells foot wear belts and while it's reported annual net revenue of five point six billion dollars in twenty eighteen its products are sold in more than fifty thousand retail locations including about three thousand standalone stores in one hundred ten countries Levi says it plans to use some of the money from the share offerings to expand further into emerging markets like Brazil China and India