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World entering a new denim cycle says Chip Berg, CEO, Levi’s

  

Chip Bergh, CEO, Levi’s feels, the world is entering into the early stages of a new denim cycle with shoppers flocking to loose-hanging, wide-leg and flared jeans. Bergh says Levi’s started to notice an uptick in sales in new styles of jeans when it launched two different fits early last year: One pair of jeans that ballooned out at the bottom, and another that was high-rise at the waist and loose fitting.

The shift has been driven in large part by young consumers, says a CNBC report. It has been endorsed by all teens’ favorite websites, including Shein, Princess Polly, Urban Outfitters and Revolve. A separate note from UBS’ retail team earlier this week noted how fashion trends within the denim category are shifting. It completed a global, Google search analysis that found a significant spike in browsing online in January 2021 compared with January. 2020 for new jean styles, including ‘baggy/wide jeans’ and ‘straight jeans.

In the first quarter of this fiscal Levi’s reported double digit sales decline as ongoing store closures in Europe and weaker foot traffic in the US due to the COVID pandemic weighed on results. However, the brand boosted its sales and profit outlook for the first half of the year, assuming the global health crisis doesn’t become worse from here. The brand expects to reach its 2019 growth levels by the fourth quarter.

 
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