Levi’s Is Reducing Its Dependence on Wholesale
Levi Strauss & Co reported third quarter results on Tuesday. They revealed that global direct-to-consumer sales are on the rise, while wholesale is declining.
Levi’s CEO Chip Bergh outlined a strategy to stay ahead of the trends currently wreaking havoc on traditional retail: Levi’s will open a hundred new stores so more consumers can get their Levi’s jeans from Levi’s, instead of from another retailer.
“Levi’s is the number one denim brand in the world by a mile, and we are maintaining our share leadership position by putting the consumer and our values at the center of everything we do,” he said, but asked for patience amid the shift. Analysts seem inclined to grant that.