Levi Strauss & Co. (LS&Co.) has entered into a definitive agreement to sell its Dockers® brand to Authentic Brands Group for an initial transaction value of $311 million. The deal includes an $80 million earnout opportunity, potentially increasing the total value to $391 million, contingent upon the future performance of the Dockers® business under Authentic's ownership. This sale aligns with LS&Co.'s strategic focus on its core brands and its direct-to-consumer growth approach. CEO Michelle Gass expressed confidence in Authentic Brands Group's ability to foster the next chapter of growth for Dockers®. The transaction also supports LS&Co.'s plans to return a portion of the proceeds to shareholders through share repurchases.
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