The iconic clothing maker Levi Strauss is experiencing a revival in Western wear, thanks to a cultural shift towards denim on denim styles. The company’s CEO, Michelle Gass, recently expressed excitement over the growing popularity of Western wear, citing a surge in demand for not just traditional blue jeans, but also denim shirts, skirts, dresses, and even cowboy hats.
Beyoncé’s reference to Levi’s jeans in her song “Levi’s Jeans” from her latest album has undoubtedly played a role in boosting the profile of Western wear. The singer’s promotion of Western style, along with other cultural touchpoints like Louis Vuitton’s fashion line and Taylor Swift’s Eras Tour, has contributed to the mainstream appeal of denim fashion.
CEO Michelle Gass highlighted Levi Strauss’s new focus on dressing customers in denim from head-to-toe, a strategy that seems to be paying off. Sales of denim skirts, jumpsuits, and dresses have more than doubled in the latest quarter, indicating a shift towards a more comprehensive denim offering beyond just their classic “501” jeans.
Despite the positive momentum in Western wear and denim trends, Levi Strauss faced a setback in its financial performance, leading to a more than 15% drop in its stock price. The company narrowly missed revenue forecasts due to unfavorable foreign exchange rates and weakness in the Dockers brand, although it exceeded earnings per share estimates.
Analysts have had mixed reactions to Levi Strauss’s latest quarter results. While some viewed the performance as below expectations, others acknowledged the company’s overall solid performance. There are concerns about the wholesale business and European sales, but there is optimism around new styles and fits driving excitement for the brand.
Levi Strauss’s embrace of the Western wear resurgence represents a strategic shift towards capturing the full range of denim fashion trends. While facing some challenges in financial performance, the company’s focus on innovation and cultural relevance, as evidenced by endorsements from pop culture icons like Beyoncé, bodes well for its future in the ever-evolving fashion industry.