Beyoncé’s Influence Boosts Levi’s Stock by 20% – Reports
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Beyoncé’s influence stretches far beyond just the music scene. On March 29, 2024, the Houston-born songstress dropped “Cowboy Carter,” a fusion of country vibes and her signature style.
It didn’t take long for Billboard to confirm its triumph, as the album swiftly snagged the top spot on the Billboard 200 albums chart, selling a whopping 407,000 equivalent album units.
A noteworthy feat, it also marked history with Beyoncé becoming the first Black woman to lead Billboard’s Top Country Albums chart.
But Beyoncé’s impact isn’t confined to tunes; it’s making waves in the business world too. Tucked within the album’s 27 tracks is “Levii’s Jeans,” featuring Post Malone.
In a surprising turn, CBS News reported that Levi Strauss & Co., the iconic denim brand, saw its stocks surge by 20% shortly after the song’s debut.
This surge spilt over into denim sales, boosting demand for skirts and pants.
Wells Fargo equity analyst Ike Boruchow shed light on Beyoncé’s natural influence, noting the spike in Levi’s denim sales prompted by the song.
Responding swiftly to the cultural moment, Levi Strauss revamped its social media strategy, renaming its Instagram handle to “Levii’s” and adding a bee emoji in homage to Beyoncé.
CEO Michelle Gass Affirms Beyoncé’s Cultural Relevance to Levi’s Brand
Michelle Gass, Levi Strauss’s CEO, emphasized the brand’s cultural relevance, citing Beyoncé’s endorsement as pivotal.
“The Levi’s brand remains at the center of culture,” she told CBS News, underlining the significance of Beyoncé naming a song after them.
This isn’t the first time Beyoncé has boosted companies’ fortunes.
Beyonce’s “Renaissance World Tour” concert, immortalized in film, drove shares up for AMC Theatres.
Forbes reported a 1.5% uptick in shares during premarket trading on Oct. 2, 2023, as excitement for the film soared.
Beyonce detailed her call for fans to wear silver during the “Cuff It” tour, spurring sales for small businesses and leaving a lasting impact on the fashion world.
