The company says the acquisition “will strengthen our brand by offering consumers compelling head-to-toe choices”.
Armin Broger, president of Levi Strauss in Europe, Middle East and North Africa, says: “By bringing the footwear and accessories business in-house, we will be able to combine DC Company’s expertise in footwear development, sourcing and distribution, and its entrepreneurial approach with LS&CO.’s broad footprint across Europe, Middle East, Africa and Asia.”
Separately, LS&CO has appointed Stefano di Martino to lead its international licensing and new business division, which is responsible for developing the Levi’s brands accessories business across Europe, Middle East, Africa and Asia. He will also lead the footwear and accessories business unit following the acquisition.
The acquisition comes a week after the clothing maker reported a second quarter loss of $4.1m as the global economic downturn and strong dollar hit sales, with European sales dipping 17% to $221m.