How Levi’s stock jumped because of Beyonce’s new song

Abu Mubarik April 15, 2024
Photo credit: Asterio Tecson via Wikimedia Commons

Levi’s stock rose 20% earlier this month following the release of a Beyoncé song called “Levii’s Jeans.” The track, which is part of the singer’s new album called “Cowboy Carter,” made several references to Levi’s jeans.

As a result, Levi Strauss & Co. saw its stock rise. This was nearly one week after the song’s release, which features Post Malone. Furthermore, the moment drove sales to increase for its denim skirts and pants.

“I would just say that denim is having a moment, and Levi’s brand is having a powerful moment around the world,” Levi Strauss CEO Michelle Gass said to CBS.

“One of the things that really is significant about the Levi’s brand, and we place a lot of emphasis and investment in it, is making sure that Levi’s brand remains at the center of culture. And I don’t think there’s any better evidence or proof point than having someone like Beyoncé, who is a culture shaper, actually name a song after us,” Gass added.

Taking advantage of the buzz around Beyoncé, Levi’s rebranded their Instagram account as “Levii’s” to mirror the spelling of her latest single’s name.

Meanwhile, Wells Fargo equity analyst Ike Boruchow said to CBS that Levi’s benefited from “a nod from cultural icon Beyoncé in her new song ‘Levii’s Jeans.'” He added that “Beyoncé’s influence has been all organic and is clearly having positive impacts” on the denim category and Levi’s in particular.

Beyoncé’s country-influenced album released last month features 27 song tracks and guest appearances from some of country music’s biggest stars, including Willie Nelson, Miley Cyrus, and Dolly Parton.

The album debuted at the No. 1 spot on the Billboard 200 albums chart, selling 407,000 equivalent album units. What’s more, the album reached the top spot on Billboard’s Top Country Albums chart, making her the first black woman to achieve such a feat.

Indeed, this isn’t the first time Beyonce’s work has helped businesses. During the last month of her recent tour, she asked attendees to wear silver clothing in honor of her Virgo birthday. This request helped several small businesses, as sales increased.

Last Edited by:Mildred Europa Taylor Updated: April 15, 2024

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