Today, Levi Strauss & Co. announced financial results for Q4 and FY23, reflecting growth in the U.S. and global direct-to-consumer (DTC) businesses.
“I am proud of what we have accomplished over the past 12 years. By putting the Levi’s® brand at the center of culture, we revitalized this iconic brand and transformed our financials, putting us in a position where we are stronger today,” said Chip Bergh, president and chief executive officer of LS&Co. “While 2023 was a challenging year, we ended on a strong note, and I am optimistic about the future. I couldn’t be more confident in Michelle as my successor, and together with the rest of our team, they position the company to thrive in its next phase of growth.”
“I am honored to take the role of chief executive officer of this iconic company and thank Chip for his exceptional leadership in having built a solid foundation for future growth,” said Michelle Gass, president and incoming chief executive officer of LS&Co. “We have a strong pipeline of newness and innovation launching this year to fuel consumer demand. And I am confident in the significant growth opportunities ahead for this company — including accelerating international growth, becoming a denim apparel lifestyle business and leading with DTC. The success of these strategic initiatives drove our growth in the fourth quarter and position us to create outsized long-term shareholder value in the years ahead.”
Check out key highlights below, and for full results, see the press release.