By Sabrina Lynch
- Levi’s stock jumps up to 20% thanks to Beyoncé’s new Levii’s Jeans track
- Other businesses are also basking in the glory as sales for Western boots have increased by 24% since Cowboy Carter dropped
Levi Strauss & Co. (LEVI +2.55%) has registered a 20% rise in footfall to stores across the country. Fashion trends may fade, but denim doesn’t thanks to the Beyoncé effect. The Cowboy Carter mastermind has propelled the clothing company Levi Strauss’ share price by 20 percent, all thanks to her giving the jeans maker a shout out on her song “Levii’s Jeans”. A week after Beyoncé’s eighth album dropped, the exciting jump happened and as a gesture of gratitude to the artist, Levi’s quickly changed their IG account name to “Levii’s”.
Why it Matters: Beyoncé’s cultural influence has come at a good time for the jeans juggernaut since announcing its global corporate workforce will slashed by 10% to 15% by June 2024. Levi’s had just begun its two-year restructuring plan in an effort to cut costs and streamline its operations. Over 19,1000 staff are sitting on edge waiting to see if their jobs will be affected by the new business plan, so a sales boost derived from Ms. Carter’s duet with Post Malone will be welcomed with open arms.
The Beyoncé effect: This is not the first time the superstar has sported Levi’s either. She famously wore 501-style cutoffs during her legendary Homecoming performance at Coachella, prompting sales of the shorts to soar when they were marketed as the festival’s unofficial uniform. Beyoncé’s magic touch has also rubbed on Black-founded fashion labels, such as Telfar. On the Grammy-award winning album “Renaissance”, her lyric “This Telfar bag imported” led to views of Telfar items increasing by 85% on The Real in just one day. Her shout outs have also helped big retail chains and small businesses alike. When Red Lobster was mentioned in her single “Formation”, the restaurant chain enjoyed a 33% rise in sales.
The Beyhive is one fan base that is not to be played with. It just goes to show the extent of Queen Bee’s influence and the power of her endorsements. The mere mention has not only re-ignited the love for Levi’s to her fans but also introduced the brand to new audiences who may not have been aware of it. It just goes to show the interconnectedness of different industries and how such a collaboration can create a ripple effect.
What’s Next: New sales generated from Beyoncé’s blessing of their denim could be the saving grace for Levi’s. It’s now up to Levi’s to carry this momentum forward and maintain it. Brand positioning with other influential figures to maintain consumer interest, consumer-centered marketing strategies and understanding market shifts could help capture consumer attention in new and unexpected ways.
CBX Vibe: “Levii’s Jeans” Beyoncé
