Levi’s is an established brand known for its rise from American workwear to popular everyday wear, with denim being the main focal point. Their most well-known product is the 501® jean, a straight-leg jeans with a button fly, a symbol of freedom and a pioneering spirit.
origin
In 1853, immigrant Levi Strauss had just opened a haberdashery in San Francisco and later noticed the demand for durable workwear. So in 1873 he and tailor Jacob Davis designed the first pair of jeans, the famous 501® jeans. Levi’s was born as a high-quality denim brand and would later establish itself as socially progressive, authentic and inclusive.
Development
Over the next 112 years, Levi’s products became so popular that the brand expanded its business across Europe and Asia from 1965 and went public in 1971. Later, in 1983, the first Levi’s® stores opened in Europe, followed by 527 more locations over the next few years. This success lasted for two decades until the brand’s profits began to decline in the late 1990s, prompting them to close several manufacturing plants and lay off more than a third of the workforce. Levi’s struggled financially for over a decade and only became profitable again in 2007. Like many other companies during the pandemic, Levi’s net sales fell 62 percent in May 2020, offset by its acquisition of yoga apparel brand Beyond Yoga.
Current
Today, Levi’s employs approximately 16,600 people and is sold in over 50,000 retail stores in 110 countries worldwide. The label’s net sales totaled $6.2 billion at the end of 2022. The focus for 2023 is on managing inflation, recession and changing consumer behavior. Portfolio diversification will be another focus for Levi’s when it comes to revenue, as it’s helped the company deliver profitable growth over the past year. Overall, the brand has set a long-term goal of becoming a net-zero emissions company by 2050.
