The company has said it has entered into an agreement to sell its Dockers brand to the brand development firm for $31M.
The deal has the potential to reach up to $391M through an $80M earnout opportunity in future years based on the performance of Dockers under Authentic’s ownership.
The denim giant announced in October 2024 that it had initiated a formal review of strategic alternatives for the Dockers brand, including a potential sale, as it looked to focus on growing its namesake brand and Beyond Yoga, which it acquired in 2021.
“The Dockers transaction further aligns our portfolio with our strategic priorities, focusing on our direct-to-consumer (DTC) first approach, growing our international presence and investing in opportunities across women’s and denim lifestyle,” said Michelle Gass, President and CEO of Levi’s. “After a robust process, we are confident that we maximised the value of the business and that Authentic is the right organisation to usher in the next chapter of growth for the Dockers brand.”
Under the terms of the agreement, Authentic will own Dockers’ intellectual property. The company has signed a licensing agreement with its long-standing partner, Centric Brands, which will serve as the operating partner for Dockers across key categories in the U.S. and Canada. Centric will take on sportswear, activewear, kids’ apparel, dress shirts, workwear and performance golf.
