While the price tag of $100 or $200 may be jaw-dropping to those who grew up sporting jeans to mow the lawn or lounge on the couch, it’s not uncommon in today’s retail marketplace. Companies like Joe’s Jeans (JOEZ) and True Religion (TRLG) are peddling trendy jeans for teenagers, and companies like Ralph Lauren (RL), Aeropostale (ARO) and The Gap (GPS) commonly market premium jeans for the older crowd with a price tag of $75 to $150.

When you think Levi Strauss & Co., the first number that probably pops into your head is “501.” After all, that’s its signature blue jeans line. But there’s a new number dominating talk about Levi’s right now: $198. That’s how much Levis thinks it can command for a new line of high-end jeans at retailers in the U.S.

And by the way, these price tags aren’t exactly scaring away consumers. True Religion stock is up nearly 70% since Jan. 1 on booming sales, and Joe’s Jeans is up more than 100% YTD! Part of that boost is because retail sales have been surprisingly strong, but even if the trend isn’t sustainable the leaders in premium clothing should still be able to reap big profits.

So can Levi Strauss & Co. rebrand itself as a premium clothing company to cash in on this lucrative segment of the clothing market? And if it does so successfully, will Levis make another reinvention of itself – this time as a publicly traded company via an IPO?

There’s no doubt that Levis is a company that’s turned itself around. According to The Wall Street Journal, Sales for the company are hovering around $4 billion annually after peaking at $7.1 billion 1996, but things appear to be turning around. And earlier this week, the company reported that it earned $56 million in its first fiscal quarter that ended Feb. 28, up 17% from a year earlier, and that revenue was up 9%. Now that consumer spending has topped its 2008 peak (really!), it’s likely that continued profits are on the way – and with those profits, pressure to launch an IPO of Levi Strauss stock.

It could be that the 157-year-old company is trying to reinvent itself as an edgier brand suitable for the runway catwalk simply to boost sales and not to position itself for an IPO. Levis has pushed forward with boutique stores, including a flagship outlet in London, and renaming its pricier labels to look more like a company that caters to jet setters and clubgoers instead of couch potatoes and landscapers. In the words of Robert Hanson, president of Levi’s Americas division, “It was our intent going into the recession that we would be able to attack coming out of the recession.” This restructuring and rebranding may help the company do exactly that.

But after looking at the red-hot growth of clothing stocks like True Religon and Joe’s Jeans, Levis execs may also be eager to try their luck at an IPO. After all, this would allow the brand access to even more capital to continue to rebranding and success of the company for many years to come.

Tell us what you think here.

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