[ad_1]
While some investors celebrate Levi Strauss' return to public markets on Thursday after decades of private-sector activity, many are surprised by the CEO's recent comments that he has not washed his jeans for 10 years.
Prior to his second IPO on Thursday, bringing his market capitalization to nearly $ 8 billion – a much higher figure than he expected – admitted Chip Bergh of Levi to CNN's markets. Business pair of jeans. And he does not envisage either.
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| LEVI | LEVI STRAUSS & CO. | 22.19 | -0.22 | -0.97% |
He also criticized the story of the old woman on the gel of your jeans to preserve its color and shape.
In a statement to FOX Business on Friday, Levi's confirmed that Bergh had not washed his jeans in a "washing machine" for more than ten years.
MORE FOX BUSINESS
"If it's the pair I'm thinking of, he'll treat it or, at worst, wash his hands, if necessary. But never in the washing machine, "said a spokesman for Levi.
This is not the first time that Bergh has been drawing media attention around the washing – or rather non-washing – of jeans.
In 2014, at a conference on sustainability, Bergh had shocked the crowd by telling them that his jeans "had not seen inside a washing machine" and that He had urged others to also stop washing theirs.
Bergh then clarified his comments in an editorial on LinkedIn entitled "The Dirty Jean Manifesto".
"My talk at the conference, which was essentially about sustainability, was to question the need to throw everything into the washing machine after one or two portages." I made this provocative statement because I firmly believe in what our brands represent quality, durable and durable products made in a sustainable way.I also said because I think we do not need to wash jeans as often as most people think, "writes Bergh.
Levi shares climbed 33 percent on his debut Thursday. However, his stock began to dive Friday early in the session.
[ad_2]
Source link