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.
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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.