Levi's is dropping shoes
On April 3, during a conference call with analysts to discuss the quarter's financial results, Levi's CEO Michelle Gass announced the closure of the company's footwear business, writes laconceria.it.
“After a strategic review of our categories, we have decided to close our small Levi's footwear business. This, coupled with the decision to exit the Denizen brand in the last quarter, will support our plans to unlock the true potential of the Levi's brand worldwide,” said Michelle Gass.
In another interview with Footwear News, Michelle Gaas admitted that this small business, "not a core competency of the company, is declining." Levi's wants to cut costs and focus on its core business. The company's strategic plan, called Project Fuel, already includes savings through workforce reductions and less aggressive discounting on jeans and denim clothing.
The American company, known for the production of jeans, opened a subsidiary in Milan in 1988, Levi's Footwear & Accessories Italy, which in 2022 had a turnover of 39 million euros with 46 employees.
The CEO clarified that Levi's will continue to release collaborations with shoe brands, recalling the recent collaboration with Crocs and New Balance.
On April 3, during a conference call with analysts to discuss the quarter's financial results, Levi's CEO Michelle Gass announced the closure of the company's footwear business, writes...
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