Levi’s CEO has admitted that the company is threatened by the athleisure trend of wearing yoga pants, Bloomberg reports…
Bloomberg reports that Levi’s, which is the world’s most iconic denim company, stuck to its core product instead of adapting to consumer trends.
As a result, this has cost the company. Bloomberg notes sales have dipped from over $7 billion to $4.8 billion over the years.
“As we saw ‘casualization’ continue even further, the customer basically told us that they had enough denim until something really unique and innovative came along,'” NPD analyst Marshal Cohen told Bloomberg. “We really saw the denim industry and denim retailers basically turn their nose up on the customer and say, ‘We don’t care what you really want, we’re going to tell you what you want.'”