digital sales represented approximately 20% of total sales<\/strong>. The denim brand reported a gross profit of $862m (\u00a3633.7m), an increase of 49.4% compared with $577m (\u00a3424.1m) in the same quarter in the prior year.<\/p>\nChip Bergh, President and Chief Executive Officer of Levi Strauss & Co, said: \u201cWe delivered a strong quarter with revenue growth versus pre-pandemic 2019 levels, despite a more difficult macro-environment than we expected.<\/p>\n
\u201cThese results reflect the strength of the Levi's brand, improving momentum in our direct-to-consumer business and the scale and agility of our supply chain network where we have executed against macro-headwinds exceptionally well.\u201d<\/p>\n
It also acquired yogawear brand Beyond Yoga in August, for approximately $400m (\u00a3294m). As Levi\u2019s enters the activewear category, the partnership will help the growing women\u2019s category which is projected to become 50% of the total business.<\/p>\n
\u201cThe acquisition of Beyond Yoga establishes our position in the fast growing, high-margin premium activewear market as we continue to capitalise on global casualisation trends,\u201d added Bergh.<\/p>\n
\u201cAdditionally, men\u2019s yoga is a great opportunity for expansion and with our knowledge of that category, we can really help grow the business.\u201d<\/p>\n
While many companies in the industry are challenged with supply chain issues, Levi\u2019s remained ahead of the problems faced by other retailers with its focus on diversified sourcing strategy. The company has already negotiated cotton pricing through spring 2022 to keep the near-term business effect of decade-high cotton prices minimal for the company.<\/p>\n","protected":false},"excerpt":{"rendered":"
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Revenues jump at Levi\u2019s as denim trend continues - TheIndustry.fashion<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n