Levi's performed better than expected in the previous quarter. This encourages the jeans brand to focus more on its own shops and e-commerce: plans to open new stores are in the making.
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Levi's is cutting 700 jobs in its offices, or about 15% of the workforce. As a result of the corona crisis, turnover of the jeans brand fell by no less than 62% in the past quarter and uncertainty remains.
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Levi Strauss saw its first quarter on the stock market end on a negative note: there was less profit than envisioned, to the investors' disappointment. Still, sales of the jeans brand went up in every market.
Researchers say that retailers should actually pay 33 euros more for a pair of jeans, to take into account hidden expenses such as damage to the climate and workers' rights.
Luxury jeans brand Jacob Cohën is opening a flagship store in Antwerp. It's the Italian chain's third store in Belgium.
American jeans manufacturer Levi Strauss has made a comeback on Wall Street after 34 years. And it has done so with success: the initial price of 17 dollars was already higher than what the merchant banks were aiming for, and it immediately made a sharp increase of more than 30%.
Store chain Hema needs to pay a 4.4 million euro fine to jeans brand Levi’s after the latter went to court because Hema applied its V-shaped stitching to its own collection.
Antwerp entrepreneur Tom Duhoux has revealed his own denim brand called HNST and it presents itself as the world’s most sustainable jeans brand.