LEVI’S discontinues footwear line
The footwear segment of Levi Strauss and Co. is based in Europe, and the company has announced it will be discontinued. CEO and President Michelle Gass stated that it is not a primary category, but rather a minor one, lacking significant scale and experiencing a downward trend.
Gass also confirmed that collaborations, which have yielded positive results, will continue. Examples include partnerships with NEW BALANCE and CROCS.
This announcement comes in the context of Project Fuel, a productivity plan aimed at reducing the workforce by 10% to 15% and focusing on direct-to-consumer initiatives.