{"id":51866,"date":"2021-08-07T22:51:13","date_gmt":"2021-08-07T17:21:13","guid":{"rendered":"https:\/\/www.denimsandjeans.com\/?p=51866"},"modified":"2021-08-07T23:45:38","modified_gmt":"2021-08-07T18:15:38","slug":"denim-news-snippet-week-31","status":"publish","type":"post","link":"https:\/\/www.denimsandjeans.com\/recovery\/news\/denim-news-snippet-week-31\/51866","title":{"rendered":"Denim News Snippets – Week 31"},"content":{"rendered":"\n

Levi Strauss Steps Down Better Cotton Initiative (BCI) Board<\/strong><\/h2>\n\n\n\n

Levi Strauss & Co stood down from the leadership of the cotton trade body Better Cotton Initiative (BCI).  After Chinese internet users raised concern about alleged forced labor in Xinjiang, several brands including H&M, Nike, and other BCI member brands were targeted. BCI is a group that promotes sustainable cotton production. Its members include Nike, Adidas, H&M, and Japan’s Fast Retailing. The China branch of BCI however said in March there were no signs of forced labor in Xinjiang. No further comments were made by BCI since then. Member brands now remain indecisive and stricken as to how and when to respond to the Chinese user’s claims made around them.<\/p>\n\n\n\n

American Eagle Rolls Out Its Augmented Reality Campaign On Snapchat<\/strong><\/h2>\n\n\n\n

American Eagle launches its new fall\u00e2\u20ac\u02dc21 back-to-school campaign, \u00e2\u20ac\u0153Future Together, Jeans Forever,\u00e2\u20ac\u009d by deploying an innovative virtual shopping experience powered by Snapchat\u00e2\u20ac\u2122s \u00e2\u20ac\u0153Dress Yourself\u00e2\u20ac\u009d tool, and in partnership with cartoon avatar creator Bitmoji. The campaign accentuates a variety of new denim offerings to further the brand\u00e2\u20ac\u2122s momentum as a leader in jeans and aims at getting young people excited about showing off new styles as they head back into the world together for a new school year. <\/p>\n\n\n\n

The campaign\u00e2\u20ac\u2122s innovative augmented reality experience allows Snapchat users and American Eagle fans worldwide to create an outfit from the Bitmoji avatars of American Eagle brand ambassadors Addison, Chase, Madison, Caleb, and Jenna in clothing from the retailer\u00e2\u20ac\u2122s \u00e2\u20ac\u0153Future Together, Jeans Forever\u00e2\u20ac\u009d line, as well as use their phone\u00e2\u20ac\u2122s self-facing camera to try on and shop select looks themselves. Combining appealing influencer personalities, both real-life and virtual-avatar-based, and the latest technological trends, like augmented reality, provides a potent way for brands to speak to and with their Gen Z, millennial, and younger customers. <\/p>\n\n\n\n

Kontoor Aims For Product Diversification To Escalate Q2 Wins<\/strong><\/h2>\n\n\n\n

 Kontoor Brands\u00e2\u20ac\u2122 Wrangler and Lee businesses exceeded financial expectations in Q2. In an earnings call on Thursday, the company reported that Wrangler brought in $311 million in revenue for a 24% increase since last year, while Lee brought in $176 million for a 105% increase. Revenue across all brands totalled $491 million for a 41 percent increase, fueling executives\u00e2\u20ac\u2122 confidence for the future. To sustain this momentum, the company is diversifying its offerings through strategic product extensions, focusing on increasingly popular categories like outdoor, workwear, and T-shirts. CEO Scott Baxter said the new categories present nearly $150 billion in total addressable markets, and are a natural addition to the brands\u00e2\u20ac\u2122 current offerings. Baxter further said that the shift to casualization is \u00e2\u20ac\u0153not cyclical\u00e2\u20ac\u009d but will continue to fuel the brands\u00e2\u20ac\u2122 relevance over time stating that the industry is seeing a \u00e2\u20ac\u0153denim resurgence\u00e2\u20ac\u009d in post-pandemic consumerism.<\/p>\n\n\n\n

Levi Strauss & Co. To Acquire Beyond Yoga<\/strong><\/h2>\n\n\n\n

Levi Strauss is set to buy Beyond Yoga and make its entry into the booming activewear segment after a pandemic year that saw job cuts and weakened sales. Levi Strauss expects the all-cash transaction to add more than $100 million to its net revenue by the end of next year. It plans to expand the mostly digital, size-inclusive Beyond Yoga to a wider, more global audience.  Beyond Yoga co-founder, Michelle Wahler will continue as chief executive of Beyond Yoga, a standalone division within the company, and report to Levi Strauss president and chief executive Chip Bergh. Wahler said that the brand was glad to become a part of the Levi Strauss & Co. family and the initiative will aid to accelerate their growth by leveraging the experience and resources of their team and their global infrastructure.<\/p>\n\n\n\n

Indian Textile Firm Arvind Ltd Triumphs Triple-Digit Growth In Apr-June<\/strong><\/h2>\n\n\n\n

 Arvind Limited, one of the largest textile companies in India, reported Q1 revenue skyrocketing to 140 percent, reaching \u00e2\u201a\u00b91,439 crores compared to revenue of \u00e2\u201a\u00b9599 crores in Q1 FY21. For the period ended on June 30, 2021, textiles business which includes denim, wovens and garments reported a 170 percent jump in revenues to \u00e2\u201a\u00b91,176 crores (\u00e2\u201a\u00b9436 crores). The company’s EBITDA for the quarter escalated 460 percent to \u00e2\u201a\u00b9104 crores with a loss of \u00e2\u201a\u00b929 crores. While net loss shrank to \u00e2\u201a\u00b98 crores. <\/p>\n\n\n\n

Robust export demand for the denim category whose volume grew 2.8 times in Q1 FY22 neutralized the reduction in domestic orders, while the woven category recorded volume growth to 3.3 times. Moreover, garments volume improved 1.8 times year over year. On the contrary, Advanced Material segment sales expanded to \u00e2\u201a\u00b9193 crores. For Q2 FY22, Arvind Limited predicts exports demand to remain strong along with domestic revival to gain traction from August. The company expects to reduce its debt to near Q4 FY20 levels in the upcoming quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

Levi Strauss Steps Down Better Cotton Initiative (BCI) Board Levi Strauss & Co stood down from the leadership of the cotton trade body Better Cotton Initiative (BCI).  After Chinese internet users raised concern about alleged forced labor in Xinjiang, several brands including H&M, Nike, and other BCI member brands were targeted. BCI is a group that promotes sustainable cotton production. […]<\/p>\n","protected":false},"author":59,"featured_media":51867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1318],"tags":[29,1350,1780,1800],"class_list":["post-51866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-denim-news","tag-news-2","tag-weekly-news","tag-weekly-reports"],"_links":{"self":[{"href":"https:\/\/www.denimsandjeans.com\/recovery\/wp-json\/wp\/v2\/posts\/51866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.denimsandjeans.com\/recovery\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.denimsandjeans.com\/recovery\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.denimsandjeans.com\/recovery\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/www.denimsandjeans.com\/recovery\/wp-json\/wp\/v2\/comments?post=51866"}],"version-history":[{"count":2,"href":"https:\/\/www.denimsandjeans.com\/recovery\/wp-json\/wp\/v2\/posts\/51866\/revisions"}],"predecessor-version":[{"id":51870,"href":"https:\/\/www.denimsandjeans.com\/recovery\/wp-json\/wp\/v2\/posts\/51866\/revisions\/51870"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.denimsandjeans.com\/recovery\/wp-json\/wp\/v2\/media\/51867"}],"wp:attachment":[{"href":"https:\/\/www.denimsandjeans.com\/recovery\/wp-json\/wp\/v2\/media?parent=51866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.denimsandjeans.com\/recovery\/wp-json\/wp\/v2\/categories?post=51866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.denimsandjeans.com\/recovery\/wp-json\/wp\/v2\/tags?post=51866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}