Known for their quality jeans, California-based Levi Strauss & Co (LEVI) seems to also be seeing wins as its 2021 fourth-quarter reports come out. The results show that quarterly earnings increased 105% from the previous year, and 58% from 2019. Net revenues were at $1.6b. Its growth has boiled down to its strategic usage of e-commerce and brand strengthening. Lockdown and post-lockdown made people online shop, didn’t they?
The answer seems to be "yes" as notoriously fast-fashion Chinese e-retailer Shein is apparently looking to list on the US stock market. Although China has been cracking down on Chinese companies listing in the US, Shein seems to be having other plans.
Why it matters
Fashion is this year's catch as it looks like even the Middle East is getting in on the hype train with Abu Dhabi's Multiply Group having recently invested $25m into Rihanna's Savage X Fenty fashion brand. Look out, Shein and Levi!
