Led by DTC, Levi's continues to rise
Denim and casualwear group Levi Strauss & Co has reported growth across all business segments for the second quarter (Q2) ended May 29, 2022, resulting in net revenues of $1.5 billion, up 15% on the previous year.
Direct-to-consumer (DTC) stores led the charge, with revenues rising by 16% year on year. This was closely followed by the company’s wholesale business, which achieved a year-on-year revenue increase of 15%. E-commerce grew by 3% in comparison to Q2 of 2021.
Together, DTC and digital sales made up 37% of revenues for the quarter.
“Our brands are resonating with consumers across geographies, channels and product categories,” commented president and chief executive, Chip Bergh. “By continuing to advance our most impactful growth drivers – being brand-led, DTC-first and diversifying the portfolio – we are well-positioned to continue to drive growth and create significant value for all our stakeholders.”
Revenues for the Americas grew 17% on 2021, followed by Asia (up 16%) and Europe (up 3%).
Image: Levi Strauss & Co via Instagram.
