U.S. Dollar Drops as Weak Jobs Data Boosts Fed Pause Bets, Yen Jumps on Intervention Talk 
Anthropic Tightens AI Access Controls After Reports of China-Based Workarounds 
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer 
Meta Stock Jumps as AI Cloud Expansion Challenges AWS, Microsoft, and Google 
Kuaishou Stock Jumps as Kling AI Secures $2 Billion Funding Round 
Sodexo Raises 2026 Revenue Outlook After Strong Q3 Sales Beat 
Lockheed Martin Emerges as Frontrunner to Acquire Ultra Maritime in $3.5 Billion Defense Deal 
Australia Trade Balance Swings to Surprise Deficit as Imports Outpace Exports in May 
Asian Stocks Rebound as Tech Shares Rally on Fed Rate Cut Hopes and Easing Iran Tensions 
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production 
Denmark Central Bank Intervenes to Support Krone Peg Against Euro 
Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan 
Asian Currencies Stay Under Pressure as Dollar Holds Near 13-Month High Ahead of U.S. Jobs Report 
Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
Trump Administration Declines USMCA Renewal, Opens Talks on New Trade Changes 
US Resumes Dollar Shipments to Iraq After Months-Long Suspension 
Levi Strauss & Co., the American clothing company, known around the world for its Levi's brand of denim jeans, revealed on Thursday, Aug. 5, that it will be acquiring Beyond Yoga, the apparel maker that produces athletic wear and more.
According to Reuters, Levi Strauss & Co. did not disclose the amount it will be investing for the purchase of Beyond Yoga. The San Francisco-based denim maker is looking to expand its business to the exercise and training clothing category.
It was mentioned that other clothes companies such as Abercrombie & Fitch Co. and American Eagle Outfitters Inc. are also venturing into the production and selling of apparel that can be worn at home as more people are staying inside their houses during the pandemic.
This means that these well-known brands are also expanding their businesses to more comfortable clothes like shorts, leggings, and tanks. Besides, the demand for such types of clothing has surged since the lockdowns have started. This is the time when people around the world were ordered to stay indoors.
At any rate, Levi Strauss and Co. said that Beyond Yoga will be operating as a standalone unit even after the acquisition deal is completed. It was estimated that the newly acquired activewear company may potentially add more than $100 million to Levi’s net revenue for 2022.
“This acquisition establishes LS&Co.’s presence in the fast-growing activewear segment with a brand with tremendous growth potential,” Levi Strauss & Co. president and chief executive officer, Chip Bergh, said in a press release. “The foundation the Beyond Yoga team has built, combined with LS&Co.’s resources, global reach and scale, make me confident that Beyond Yoga will become a powerful growth engine for LS&Co. and help drive our strategic priorities.”
Now, since Beyond Yoga will operate as an independent unit within Levi’s company, its current CEO and co-founder, Michelle Wahler, will remain in her position but will be reporting to Chip Bergh.
Wahler said via the release that Beyond Yoga is excited to work with and be part of Levi Strauss & Co. She added that this acquisition deal will allow the company to grow further. “We are thrilled to have LS&Co. help us expand our brand to a wider audience, as we continue to promote our mission of inclusivity and acceptance for all,” she said.
