Levi Strauss & Co joins US Cotton Trust Protocol, reports +156% revenues
San Francisco-headquartered Levi Strauss & Co recently announced its membership of the US Cotton Trust Protocol (Trust Protocol), effectively bringing its legacy brands Levi’s, Dockers, Denizen, by Levi’s and Signature by Levi Strauss & Co into the Trust Protocol’s orbit.
A press release told how over 90% of the company’s products are cotton-based, while chief sustainability officer, Jeffrey Hogue, said: “The quality and sustainability of the cotton we use is critical to our business and important to our customers.”
“Membership of the Trust Protocol will be an important step and a key partnership in our efforts to source 100% more sustainably grown cotton.”
Going forward, Levi Strauss & Co will focus on purchasing cotton with decreased water use, as well as reduced carbon emissions, fertiliser and pesticide usage, the release explained.
Aligning itself with the Trust Protocol will reportedly support the company in attaining verified data on sustainability practices from US cotton growers, including year-over-year figures on metrics including water and energy use, greenhouse gas emissions, soil carbon, soil loss and land use efficiency.
“As a member, Levi Strauss & Co will receive farm-level data which will help them progress their sustainability efforts and achieve their cotton sourcing goals,” emphasised Trust Protocol president, Dr Gary Adams.
Separately, the company has reported net revenues of $1.3 billion for the second quarter (ending May 30, 2021), up 156% versus the same period last year.
Acknowledging the contextual impact of covid-19, it also outlined how net revenues for the US, China and Europe had additionally exceeded fiscal 2019’s figures.
President and chief executive of Levi Strauss & Co, Chip Bergh, commented on the results: “We generated strong momentum in the second quarter with the accelerated recovery of our revenues and delivered growth across all regions and channels.
“This was underscored by the strength of our brands and our ability to capitalise on evolving denim trends and a continued shift to casualisation.
“As we move into the second half of 2021, we are focused on emerging stronger with our strategic priorities of leading with our enduring brand [Levi’s], accelerating our direct-to-consumer connections and diversifying across categories, channels and geographies.”
Image: Levi’s via Instagram.
