Consumers are increasingly going to be able to get their Levi’s from Levi’s, and they’re likely to pay full price.
That’s essentially the strategy outlined by Levi’s CEO Chip Bergh on Tuesday as he addressed wholesale declines that he said are offset by increases in sales online and through the company’s own stores.
Levi’s U.S. wholesale business eight years ago brought in almost half of the company’s entire global sales, while today it’s just around 30%, he told analysts, adding that will “continue to trend down as other parts of the business grow at a faster pace.” The company this year expects to open about 100 new company-operated stores, according to the release — bucking the tide of massive store closures in the country this year.
