Fashion
How CEO Michelle Gass Plans to Turn Levi's Into a $10 Billion Company
Levis will be developing more local products in China, including lighter denim styles for warmer climates. Consumers want a very premium experience and they want to see more changes in our offering more frequently. Based on these learnings, we are building a local product engine in the market. We will offer more premium items, but also items like tops, she explains.
However, all this product development comes with major challenges when it comes to denim’s environmental impact. The industry has a reputation as one of the most polluting in clothing manufacturing, largely due to its water-intensive production and environmentally damaging dyeing processes. Despite the progress made, many fundamental problems remain.
In 2021, Levis announced that it would focus its sustainability efforts on three core pillars: climate, consumption and community, starting with climate. In May 2024, it said its goal of achieving carbon neutrality by 2050 had been validated by the Science Based Targets initiative (SBTi).
“Just as we are a leader in denim, we must be a leader in sustainability,” Gass said. “Denim is a product that consumers want, so we must invest in innovative products and technologies to reduce our impact on the environment.” The company will release its 2023 sustainability update in September.
The Opportunity of Women's Fashion
“Womenswear is absolutely critical to the global strategy,” says Gass, who is wearing a Levis denim jumpsuit when we meet. “We’ve historically been known as a men’s brand. And we’ve made huge strides in women’s. We’re going to amplify that strategy going forward,” she says. “We see this as an even bigger opportunity to really embrace a head-to-toe denim lifestyle. For women, it’s jumpsuits like the ones I’m wearing today that are really hot right now, but there are also denim dresses, denim skirts. Womenswear is about a third of our business today and it should be at least half, and all of our research suggests that if we attract women, they’re going to buy men’s as well.”
There are also non-denim products, like chinos and non-denim tech pants, that are geared toward performance and activity. Its market share extends beyond denim bottoms, Gass notes. As part of its elevating strategy, the brand will unify its premium offering with a blue label rather than its traditional red on the back pocket. It will continue to launch about six to eight fashion collaborations per year.
The Western trend, fueled by Pharrell Williams and Beyoncedrive business? What helps us is our core strategies, but to your point, there’s a lot of buzz right now around denim and western and we’re excited to be involved in that,” Gass said. “You can look at some of the evidence like our western shirts for example, and they’re up 40% year over year. We’ve been marketing on our website, which makes it easier for consumers to find these western trends. Certainly western is having its moment. Levi’s is having its moment.
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