The Canadian units of US retail and apparel giants Wal-Mart Stores Inc and Levi Strauss & Co were on Wednesday expected to announce the launch of Levi's new value-priced Signature brand.

Reports in the country's press said Wal-Mart Canada and Levi Canada will make an official announcement later today, with the new line likely to carry a price point under C$40.

Wal-Mart started selling Levi’s Signature jeans in the United States in July and the new brand has since proved a hit with consumers who have reigned in spending amid tough economic conditions.