Bloomberg Talks
Levi Strauss President & CEO Michelle Gass Talks Sales Outlook
Oct 3, 2024
Michelle Gass, President & CEO of Levi Strauss, dives into the company's sales outlook amid recent market declines. She discusses strategic options for the Dockers brand and how reallocating resources could boost Levi's and Beyond Yoga. Gass highlights Levi's positive sales momentum and innovative pricing strategies. The conversation also touches on the growth potential of Beyond Yoga post-acquisition and emphasizes the importance of cultural partnerships to enhance market presence.
11:06
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Quick takeaways
- Levi Strauss is focused on long-term growth, aiming for $10 billion in sales while adapting to macroeconomic challenges.
- The partnership with Beyoncé signifies Levi's strategy to enhance brand visibility and engagement in women's fashion and cultural relevance.
Deep dives
Levi Strauss's Growth Strategy
Levi Strauss is focused on long-term growth strategies, aiming to reach $10 billion in sales over time. Despite a recent narrowing of the revenue forecast, the company reported a 3% increase in adjusted revenue and a 5% increase in the Levi's brand. The direct-to-consumer model has shown significant strength, with e-commerce seeing nearly a 20% rise, particularly driven by women's fashion. The company believes that expanding its footprint in the women's segment, currently at a third of its business, presents a valuable opportunity for further growth.
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