Forever In Blue Jeans? Levi’s Shakes Off Its Troubles By Embracing The Past
Levi Strauss, the world’s most famous denim brand, opened a new flagship store on Friday in Times Square, New York. The 17,000 sq ft store offers on-site tailoring, a T-shirt printer and a mini-museum of the 165-year old brand. Just a few years ago Levi’s was struggling. Strangled by yoga pants and the rise of “athleisure”, and struggling to compete with cheaper jeans from fast-fashion companies like Uniqlo and H&M, the original blue jeans maker was having an identity crisis. Sales were flat and debts were piling up. But it appears to have hit its stride once more. Levi’s is reportedly considering going public, raising between $600m and $800m in a share sale that would value the company at upwards of $5bn, according to CNBC. The company’s rising fortunes have come from embracing its past while accepting the future. According to market analyst NPD, jeans sales rose 5% in the U.S. last year and finally appear to be bouncing back after years of losses to activewear. Read more at The Guardian.
