Levi’s witnessed a large bloom in the first quarter, reaching a net revenue of $1.7 billion. Besides, Levi Strauss and Co. reach a potential 9% figure on a constant currency basis. Thus, this clearly reflects a potential rise in its loyalty membership by 40%.
Direct to Consumer (DTC) means a sale strategy that establishes a direct connection with customers. Many online brands, like Levis Strauss and Co., now understand the benefits of an online presence. Following this, such brands sell products directly to consumers instead of using third-party platforms like Amazon.
After this rise in the first quarter, Levi’s expects the same performance for fiscal 2023. Moreover, considering the reported revenue, it expects its growth trajectory to boost to 6.4 billion dollars.
President and Chief Executive Officer of Levis Strauss and Co added, “Our first quarter results reflect the strength of our brands and the progress we are making against our strategic priorities. We delivered strong growth in our international business and record-breaking revenue performance in our direct-to-consumer channel.”
Being one of the largest apparel companies, Levi Jeans and Levi Roots are quite popular. Also, in the Levis outlet, you can witness a huge jeanswear collection.
Let’s break down its global revenues;
Globally, This revenue spiked 16% year-over-year based on constant currency.
In the US Market, Solely in America, Levi’s shows a 15% revenue growth.
E-commerce; Its e-commerce market grows by 14% based on constant currency.
Loyalty membership; Approximately 25 million consumers join its vast chain.
This massive deviation from DTC brands has helped Levi’s to have better control over its consumer unit and engagement. Following this, Levi’s makes its root firmer by opening five brick-and-mortar stores in the U.S. and 25 globally.
