Levi’s reveals five-year goals to investors
10/06/2022
The group further revealed that from fiscal 2022 to fiscal 2027, it expects annual net revenue growth of 6-8%, an increase over earlier targets of 4-6%.
Levi’s outlined how implementing its “global vision” across all markets as part of a brand-led approach will be key to its advancement. Executive vice-president and chief commercial officer, Seth Ellison, revealed a slightly different process for the Chinese market during his speech, however.
Rather, Mr Ellison discussed how the group’s country-specific strategy expressly “priorities premiumisation” in China, ensuring a product mix that is hand-picked from “the best of the global brand” to capture the imagination of the market’s affluent and upper middle-class segments. This also extends to taking steps towards elevating and expanding the footprint of franchise stores, he added, so as to make greater inroads into the nation’s higher-income third and fourth tier cities and, if all goes to plan, win market share by meeting more customers where they are primarily located.
In line with its vision for the rest of the world, though, the San Francisco-based firm will also look to continue to scale its tops product category in China by optimising the in-country product engine, Mr Ellison said. The company anticipates growing worldwide women’s and tops sales revenues by almost 50% by 2027.
Other objectives for the group more generally include intensifying its focus on direct-to-consumer strategies, which Levi’s projects will ultimately result in the channel providing 55% of annual net revenues by the end of the five-year period. Said tactics are set to include increased investment in stores, online platforms and “other digital capabilities” to deliver a more integrated, omnichannel shopping experience for consumers.
Image: Levi’s via Instagram.
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