BC Tip: Levi Strauss & Co - the wrong sort of 501

Levi Strauss & Co returned to the stock market recently, but its IR site was not dressed as properly as it could have been

Levi Strauss & Co IR site home page

Levi Strauss & Co IR site home page

The Feature

Levi Strauss & Co shares started trading again on the New York Stock Exchange recently, after an absence of over 30 years.

The company’s Investor Relations site, separate from the other areas of its corporate web estate, carried regulatory news items relating to the IPO, including the final prospectus filed on flotation day.

Its Events & Presentations section was and remains, at the time of writing, totally empty. The section is promoted on the IR site landing page, leaving error messages visible to users arriving at the site.

The Takeaway

An IPO is a stressful time for any IR department and digital manager, and it can be easy for things to slip through the cracks on the IR site – especially if the site, or part of it, is new, and laws about what can and cannot be shown must be navigated.

But that does not mean that companies cannot do more to prepare for the day that shares float.

We suspect that the Events & Presentations section on the Levi Strauss & Co site was simply part of a standard template, but clearly it would have been better to remove it until the company had something to put in it; or to create a more elegant message advising users when materials would be available.

The prospectus is largely hidden, only available from the SEC Filings area of the site and not in, for example, Financial news. The company should at least point investors to this more obviously now the shares are trading. We would also expect material from the prospectus to be adapted for the website, to state the company’s investment case, in the near future as regulations allow.

Sometimes the IPO company has not thought about its IR site and who is going to run it, so that planning should be part of the overall preparations. We know that US companies, encouraged by their legal departments, can outsource their IR sections or sites. If this is the case, it should still be closely overseen by the in-house digital and IR teams.

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If you have a query or for more information about Bowen Craggs, please contact Dan Drury: ddrury@bowencraggs.com.