Levi’s, the iconic denim brand, saw a significant boost in its stock price, surging by 20 percent on April 4, driven, say stock market watchers, by the release of Beyoncé’s new song titled “Levii’s Jeans.” The track is part of Beyoncé’s country album “Cowboy Carter,” and the track features a collaboration with Post Malone and includes several references to Levi’s jeans.
The impact of Beyoncé’s endorsement on Levi’s brand market performance was highlighted by Levi Strauss CEO Michelle Gass during an earnings call. Gass emphasized the cultural significance of being recognized by Beyoncé, a renowned culture shaper, CBS News reported.
Levi’s Recognizes
In response to an analyst’s question about the song’s influence on sales, Gass answered, “One of the things that really is significant about the Levi’s brand is making sure that Levi’s remains in the center of culture. I don’t think there’s any better proof point than having someone like Beyoncé, who is a culture shaper, to name a song after us.”
The “Levii’s Jeans” song has not only garnered attention for Levi’s but has also contributed to increased interest in denim fashion. Fashion industry analysts have suggested that Beyoncé’s influence on popular culture is translating into positive sales trends for Levi’s and the broader denim category.
According to Bloomberg Intelligence senior industry analyst Mary Ross Gilbert, Beyoncé’s song, already a top 20 song on Apple Music’s top 100 USA playlist, “could also provide an added boost to sales.”
In addition to the song’s release, Levi’s has introduced new product lines, including denim skirts and non-denim pants, which also help boost sales performance.
Levi’s even temporarily changed its Instagram account name to “Levii’s” to reflect the song’s title.
The company’s stock did see a slight dip of 1.4 percent in stock price on April 5, trading at $20.69, Levi’s seems poised to capitalize on the momentum generated by Beyoncé’s song.
Released on March 29, “Cowboy Carter” made its debut at No. 1 on the Billboard 200 albums chart, with an impressive 407,000 equivalent album units earned in the U.S., according to Billboard. This marks Beyoncé’s eighth No. 1 album on the all-genre Billboard 200. And, “Cowboy Carter” claims the largest week of 2024 and stands as the biggest album debut since Taylor Swift’s “1989 (Taylor’s Version)” in November 2023.
In addition to dominating the Billboard 200, “Cowboy Carter” has also secured the top position on multiple genre-specific charts, including Billboard’s Top Country Albums, Americana/Folk Albums, and Top Album Sales charts. Beyoncé’ is the first Black woman to achieve this distiction since the chart’s inception in 1964.
