May 20 (Reuters) - Levi Strauss on Tuesday said

it will sell its Dockers apparel brand to Reebok and Van Heusen

owner Authentic Brands Group for $311 million to focus on its

flagship Levi's brand and the Beyond Yoga activewear line.

Last October, Levi Strauss announced its intention to sell

the underperforming Dockers brand to concentrate on its core

brands and boost sales through its direct-to-consumer stores at

full price.

"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,"

Levi CEO Michelle Gass said in a statement.

Dockers' products accounted for 5% of its net revenues in

each of the fiscal years 2024, 2023 and 2022, according to

company filings.

The sale is expected to finalize by the end of July for

the U.S. and Canada operations, with the remaining global

operations closing by January 2026.

The company plans to use $100 million of the cash

proceeds for share repurchases.