Live Like Levi’s...
An era is dominated by public ownerships, Levi Strauss & Company still represents a small brigade of businesses that are completely owned and managed by family descendents. Incorporated in 1853 as a dry goods wholesale business by Levi Strauss along with his brother-in-law David Stern, the actual journey started in 1873, when Jacob Davis (a tailor by profession) and Levi received the patent to manufacture the famous Levi’s brand of jeans. Gradually, Levi along with his nephews (the Sterns) turned his enterprise into a family business and passed on the legacy of his thriving business to his nephews in 1902. In the year 1928, Levi’s became a trademark. Gradually, the company expanded its presence in the global market and finally got listed in 1971. But, the company started losing ground in the early eighties. Here, stepped in Robert Haas (the great-great grandnephew of Levi) taking over as the CEO in 1984. He focussed on the core products, streamlined the work-force and closed down many plants to increase productivity. In the mid-nineties, he again made Levi’s a private company by deploying a leveraged buyout worth $1.6 billion. Later, he handed over the mantle to Philip Marineau, a veteran from PepsiCo. Now, under Marineau’s new leadership, the company is undergoing a serious strategic makeover & operates as the world’s largest apparel marketer with best selling brands like Levi’s, Dockers & Levis Strauss Signature.
- An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative
Jammag Magazine Editor & Publisher: Rashmi Bansal arrested, please click:
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