Fashion
Founder Levi Strauss patented the blue jeans in 1873 but the brand itself was established in 1853, and today its jeans can be found in over 2,800 stores in 110 countries.
Although long enjoying iconic status, it has been difficult for Levi’s to consistently stay relevant and be at the centre of culture. It was 1996 when Levi Strauss reached its peak year, amassing USD7.1 billion of global sales – even bigger than Nike, which booked USD6.5 billion in sales that year.
Entering 2001, the denim maker saw its sales plummet to USD4.1 billion – which for the next decade became the norm. The challenge today is that customers in its biggest markets, the United States and Europe, are not out spending on retail. And CEO Chip Bergh sees that over the past decade, denim and apparel in general has been on the decline.
