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FutureStarrThe History of Levi Strauss & Co
The American clothing company Levi Strauss & Co. is most famous for its denim jeans. Founded in 1853, the company was named after Levi Strauss, who immigrated from Buttenheim, Bavaria. The brothers had just started a dry goods business in New York, so they decided to expand into the west. This move proved to be a successful move for the company, and they soon expanded their business to include apparel.
In 1890, the company became a corporation. Sigmund Strauss, the founder, took over as president. He was succeeded by Walter Haas, his son-in-law. The two men were related by marriage but had little or no background in the clothing industry. They both reorganized the company's finances and improved its reputation as an international company. This move helped the company continue to grow.
The firm's growth continued to increase. In 1952, Levi Strauss & Co. branched out from denim to sportswear. They produced and sold Koveralls, playsuits for children. In 1955, the company introduced the zipper fly into their jeans. By the end of the decade, they were selling twenty million pieces of clothing per year and nearly half of their jeans. They were growing quickly and earning strong profits, which made the company more profitable.
Throughout the 19th century, the company had numerous acquisitions. In 1887, the company acquired Beyond Yoga, an activewear brand. In 1906, they also bought Gerben Perrott PLLC, a trademark library. The merger of these two companies was another important step in the growth of Levi Strauss & Co. However, the company's growth did not stop there. In fact, it was even more successful than its predecessors.
Despite the fact that Levi Strauss & Co. is still based in San Francisco, it is one of the largest brand-name apparel makers in the world. In 1873, the company launched the first pair of blue jeans and became immensely rich. Today, the company operates in more than 60 countries and employs approximately 3,000 people. There are more than fifty production facilities and 32 customer service centers in the company. In addition to this, the company has joint ventures in a host of countries.
The company's profits have suffered for years. The company has faced a string of challenges, including misrepresenting its products as being manufactured in the United States when they were actually made in the Northern Mariana Islands. The fact is that these garments are made in sweatshops using Chinese labour. This has caused the brand to face a lot of negative press. Its current profit margins are below its highest levels since it filed for IPO on the New York Stock Exchange in 1987.
The company operated five factories in Nevada. During the post-war years, the company experienced a shortage of denim, but it did not let this prevent it from achieving its goal. Its products remained a popular choice among many customers, and the company's profits began to climb in 1948. While this might seem like a small sum, it was enough to attract a new generation of customers.