Denim Sector Alternative Data Overview | TickerTrends.io
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Ticker: $LEVI, $KTB
Sector: Apparel
The Denim Resurgence: Beyoncé’s Influence and the Preference Shift for Levi’s and Kontoor Brands
Beyoncé’s Denim Moment
Beyoncé, an icon of style and culture, recently stepped out in a pair of double denim apparel, capturing the attention of her massive fanbase and the fashion industry. The release of her new album and associated appearances singing the Western and denim-themed songs seem to be causing social shifts in consumer buying behavior.
The effect was immediate: with users on social media platforms buzzing with mentions and images. This shined a spotlight on denim products and thus companies associated with denim.
The search and social interest rise for “denim” and all associated products are clearly evidenced in the data displayed above. In the world of publicly traded equities, Kontoor Brands and Levi Strauss stand out as beneficiaries of this trend.
Impact on Levi’s
Levi’s, known for its iconic jeans, has particularly felt the positive impact. The brand, which owns Levi’s, Dockers, and Denizen, has seen an increase in consumer interest lately from this trend.
As shown above, we see that last year, year-over-year trends in Levi related keywords were registering a decline (with all terms under 1), but now fast-forward to today’s trends and all important keywords are well into growth territory.
These trends are shown even more clearly through “Levis denim” Google Trends data.
Levi is feeling the positive tailwinds of this consumer preference shift in favor of their industry.
Kontoor Brands Reaps the Benefits
Similarly, Kontoor Brands, which owns Wrangler and Lee, has also benefited from the denim craze. The brand has historically competed with Levi’s and now finds itself well-positioned to take advantage of the increase in consumer demand. Wrangler jeans markets itself as a “rugged” jeans brand, and often associates itself with country imagery ranging from cowboys to rodeos, giving consumers the “Old West” feeling. This consumer trend has also made Western-style clothing more popular and we certainly see a general uptrend in related keywords. Do note that the November 2023 spike shown in the chart below has to do with the Crocs cowboy boots released.
For Kontoor Brands specific terms, we see generally positive impacts showing up in the website traffic data.
Both sub-brands seem to be doing very well seasonally, benefiting from the denim sector tailwind.
Conclusion
The resurgence in denim’s popularity serves as a tailwind to the denim sector as a whole. But it will be important to keep close tabs with the trend, website traffic and social data in relevant terms to see whether this is a fleeting trend or a long lasting consumer preference shift. The influence of celebrities on fashion trends is undeniable, and Beyoncé’s recent double denim choice has proven to be a significant green light for major denim brands like Levi’s and Kontoor Brands. The broader implications for the fashion industry and consumer trends will be interesting to watch. View real-time alternative data at TickerTrends.io to stay up to date!
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