The decline of skinny jeans is proving to be good news for Levi’s.
While the long-reigning style retains a hold in the denim market and looks unlikely to vanish entirely, looser fits have been making steady inroads, meaning shoppers have been buying new jeans. Levi’s has been one of the beneficiaries.
In the three months ending May 30, the company saw its total sales rise 156% versus the same period last year, including a jump of 153% in the Americas, its largest market. The comparison was against last year’s pandemic plunge in denim sales, so there was practically nowhere to go but up. But there were other factors at play too, according to Levi’s CEO Chip Bergh.
For one, dress continues to get more casual, Bergh explained on a call with analysts. That means as spaces such as offices and restaurants reopen, Americans may be more likely to pick up new jeans for work or going out than more formal clothing. The past year has also seen a sizable share of Americans change waist sizes, Bergh said, and whether they went up or down in size, they needed to buy new clothes to fit their body.
